Author: Jeffrey Liu

Maximizing Insurance Inside Your Superannuation: A Comprehensive Guide Most Australians have some form of life insurance and Total and Permanent Disability (TPD) coverage through their superannuation, as it is often automatically included. However, it is essential to regularly review whether the cover amount and policy type continue to meet your specific needs—particularly after major life events such as marriage, divorce, starting a family, or changing jobs. If you have received a letter from the Australian Taxation Office (ATO) stating that your insurance may be cancelled due to an inactive or small super fund, contact your superannuation provider immediately. How Does…

IntroductionHealth insurance plays a crucial role in protecting us from unexpected medical expenses and providing access to better healthcare services. However, understanding the details of health insurance can be overwhelming, especially when it comes to what it covers, how often it can be used, its tax implications, and the potential risks of being uninsured. This article addresses common questions about health insurance, offering key insights to help you make informed decisions about your healthcare coverage. What happens if you don’t have private health cover? If you don’t have private health insurance, you may face the Medicare Levy Surcharge, an additional…

Life Insurance for Diabetics: What You Need to Know Finding affordable life insurance can be challenging for diabetics. Managing diabetes is already demanding, and securing financial protection for your loved ones shouldn’t add to the stress. Whether you have Type 1 or Type 2 diabetes, understanding your options and the factors influencing your premiums is essential to finding the right policy. Diabetics often face higher premiums and limited policy options, which can be frustrating. Understanding why insurers view diabetes as a higher risk and learning how to improve your eligibility can help. By addressing these concerns and offering actionable insights,…

Ensure your business has the right type of insurance and identify which employees can benefit from your business’s workers’ compensation insurance. As an employer, you have a responsibility to protect your business and your employees. You must report the wages of all relevant employees according to the legal definition of “employee.” Note that you must retain records of any payments made to a “contractor” that do not count towards considering the contractor as an employee. To understand your legal obligations, use the following definitions and guidelines: Individuals Who “May Be Considered” Employees Include: For a detailed list, refer to Schedule…

Workers Insurance in NSW Overview: Legal Requirements: Definition of Employer: Exemptions: Handling Injuries: Workers vs. Contractors: Sole Traders and Partnerships: Small Employers: Medium to Large Employers: Trusts and Trustees: Want to know more? If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 1800 668 153. You can also book a discovery call thru our live calendar. We love hearing from our readers! Please send us your questions, feedback or interest topic by clicking here. Author Profile: Jeffrey Liu, JP, is the founder and principal adviser of Hippo…

Your cover is designed to be flexible As your life changes and your responsibilities expand, your life insurance should expand with it. And if you’re thinking that sounds like a lot of effort, think again. Most policies allow you to increase your cover without any medical checks or complicated forms when major life events occur, like having a child or increasing your mortgage. In fact, that’s exactly how your cover is designed to work. Insurance isn’t ‘set and forget’ A common misconception about life insurance is that it’s a ‘set and forget’ arrangement that doesn’t need to be reviewed regularly.…

Definition of TPD In the event of an accident, illness, or disability that prevents you from working, disability insurance, also known as Total Permanent Disability (TPD) insurance, can protect you and your family by alleviating financial stress, maintaining your quality of life, and providing a lump-sum payout. This payout can be used for debt repayment, children’s education, paying out-of-pocket medical expenses, and retirement living expenses. How TPD differ from other insurance: Difference from Income Protection Insurance: TPD insurance provides a one-time payout for permanent disability, whereas income protection insurance offers a continuous income replacement during temporary loss of work ability.…

The application process is your chance to get certainty from your insurance. That’s because the information you provide in your application will help dictate what you’re covered for, and how much it will cost. Carry out your duty of disclosure correctly, and you can be confident your cover will do exactly what you expect it to if you make a claim. Your insurer needs to know your risks Imagine you bought a second-hand car that came with a dented bumper. When you go to insure it, your insurer will want to know if there’s any existing damage to the car…

4 key factors impact your premium Ever wondered how insurers work out the cost of your life insurance? There are many factors that can impact the premium you pay, but there are 4 factors in particular you need to be aware of. If your health improves or your lifestyle has changed recently, get in touch with your adviser to review your policy and determine if these loadings can be removed to help lower your premium Your cost is influenced by these important factors of your policy: For most policies, two premium structures are offered: A number of other factors may…

/*! elementor – v3.20.0 – 13-03-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=”.svg”]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block} Life insurance protects our future financial circumstances against unexpected illness or injury. Deep down, most of us probably know that’s a good investment in our future. But the truth is many people struggle to engage with life insurance enough to actually buy it. And for those that do, more struggle to keep it, review it and feel comfortable with it. Some of the issues are based on effort – life insurance isn’t an easily accessible product, and it requires people to read an entire product Disclosure Statement (PDS)…