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phone CFL Financial 07 3328 8988
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If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

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Has the Insurance in your Super Fund Got Your Family Covered?

Posted on Nov 28, 2017 by CFL

What is the difference between:

  1. Keeping your default insurance policy through super
  2. Having a Financial Adviser sort out your insurance

We’ve all been bombarded with the information sent out by our superannuation fund and ads on TV about all of those ‘cheap / no-frills’ insurances.

In fact, there are so many insurance options and promises out there, it’s hard to know what to do.

The problem is most people don’t stop and ask themselves – “am I really getting a good deal from my superannuation insurances, or should I be speaking to a Financial Adviser to get some professional advice about this…?”

As Certified Financial Planners and Insurance Advisers with over 37 years’ experience between us, CFL have seen the good, the bad and the downright ugly when it comes to the way some of these superannuation or direct insurance policies have been set up….

We’ve also had to clean up our fair share of ‘insurance disasters’ where no advice was provided at inception….

So, what should you be looking out for when you’re either looking at NEW insurance cover or REVIEWING what you have already?

Your Superannuation Insurance Cover

We’ve all changed our superannuation at some time or another and received the automatic insurance cover as part of our super… but what we’re seeing more and more at CFL is that people are relying on this cover – and paying a big price….

A number of our clients have told us that they have insurance through their super fund, which they kept in place as their only insurance. Why? Because at the start there was the lure of:

It sounded so easy to them… they didn’t need to do anything at all and if they wanted to increase the cover they could do it by themselves. There was no need to talk to anyone and they had their insurances all set up.  But when we’ve looked at the facts with them we’ve discovered that these policies are not always what they’re ‘cracked up’ to be…

By the way…. The reason you don’t need to fill in any forms or answer any medical questions is because they’ll take ‘anyone’ on-board…!

They take your premiums…  And then, when it’s time to make a claim… That’s when they do their assessments and decide whether you qualify for a claim OR NOT…

Imagine you’re injured or sick in hospital and you have to start trying to prove there was no pre-existing condition, that you were healthy enough when you got the cover and therefore qualify for a claim…

So, what should you do instead?

Use a Financial Adviser

On the flip side, Financial Advisers have a more structured and methodical process to setting up your family’s important insurances…!

If your considering seeking advice it’s likely you’ll want to know:

Financial Advisers take the time to ask you the right questions, collect important information, and create tailored recommendations that are specific and designed with you and your family in mind…

Your adviser knows your needs, they know the rules, and they generally know all the available products, policies – and importantly – the wording and all the ‘fine print’ inside and out.

They will assess your situation to make sure you:

  1. Get the cover you need;
  2. Understand what you’re covered for
  3. Have certainty at claim time
  4. Don’t pay more than you have to; and
  5. Get better value for money

These are big decisions and you need someone in your corner to guide you and help you make the best decisions.

If your insurance cover (what you’ve got and what you’re paying for…) is important to you, and you want to check if your insurance has you covered properly (no ‘holes’ or other ways for an insurance company to renege on your claim…), contact us today for one of our quick 45-minute complimentary ‘Insurance & You’ strategy sessions.

We’ll check what you have versus what you need and let you know if you are truly getting what you are paying for.

Simply call us on (07) 3328 8988 to tee up a time to suit. We look forward to hearing from you.

PS: We just wrote a short Free Guide on how to set up and save money on your insurances that will help you identify the traps to look out for, and what to do instead. It’s called ‘The Bulletproof Your Insurance Blueprint’.

Just Click Here for access to this informative guide.

*Our little Secret*

The Insurance Blueprint also shows you a little-known way to access more comprehensive cover, and be eligible for discounts at the same time…! It’s a great little tip if you want superior cover than your super fund provides for a lower or similar cost.

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

Retirement-prosperity-thumbnail

The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

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contact us

Email:
Phone: 07 3328 8988
Fax: 07 3328 8999

Office Location:
Level 9, 360 Queen Street
Brisbane
QLD 4000

Postal Address:
GPO Box 2468,
Brisbane,
QLD, 4001

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