Wealth Protection

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Any advice on this site is general nature only and has not been tailored to your personal objectives, financial situation and needs. Please seek personal advice prior to acting on this information. Any advice on this website has been prepared without taking account of your objectives, financial situation or needs. Because of that, before acting on the advice, you should consider its appropriateness to you, having regard to your objectives, financial situation or needs.




Personal Insurance Protection

Protecting what is important to you and safeguarding your lifestyle can ensure that your wealth remains intact in the face of potential risks and threats


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Financial planning is about much more than investing. By implementing appropriate Wealth Protection strategies you can ensure that you and your families financial position is secured should you suffer from an unexpected event. There are a range of strategies and techniques, including insurance, legal planning and risk management to protect your financial security.

Below are some important aspects of wealth protection that you should consider.

How long would you be able to meet your financial obligations should your income cease?

While the majority of people don’t hesitate to insure their home, car or even pets, they often disregard the importance of insuring their most valuable asset, themselves! Personal Insurance can provide financial protection against a range of risks death, loss of income, major illness, and total disability.

The following types of personal insurance are available:

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Life Insurance

Life insurance pays a lump sum if you die or are diagnosed with a terminal illness. Life insurance proceeds can be used to meet costs such as debt obligations, funeral costs, children’s education as well as provide replacement income for surviving family members.

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Total and Permanent Disability (TPD) Insurance

TPD insurance pays a lump sum if you suffer a disability or an illness preventing you from working again. There are different types of TPD policies available to protect you. The two key policies available are own occupation and any occupation cover. Own occupation TPD cover protects you should you be unable to work in your current occupation again. Any occupation TPD will protect you should you be unable to work in any occupation. TPD insurance can assist with covering expenses such as medical and rehabilitation costs, home modifications, the cost of ongoing care, mortgage costs and day to day living expenses.

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Income Protection Insurance

Income protection insurance provides regular monthly income in the event you are unable to work for medical reasons. Income protection ensures you will be able to meet your ongoing expenses such as mortgage costs, day to day living expenses, and medical bills. There are various income protection policies on offer. You can insure your income until retirement age providing you peace of mind both now and into the future. Premiums for income protection are generally tax deductible, making income protection more affordable.

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Trauma Insurance

Trauma insurance pays a lump sum if you are diagnosed with a specified major health event. Examples of conditions covered include cancer, heart attack and stroke. Trauma cover can support you through a difficult time by alleviating the financial pressure in relation to lost income, medical treatment and rehabilitation costs, lifestyle modifications and general living expenses.




Business Insurance Protection

The success of a business comes down to its people


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If you or someone fundamental to your business operations suffers a disability or illness and is unable to work or dies the impact to your business can be catastrophic.

Business insurance cover provides you with peace of mind that your business can be protected using:

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Business Expense Insurance

Business expenses insurance can support you in covering the fixed costs incurred by your small business should you be temporarily unable to work. In the unfortunate scenario that you are unable to return to work, this cost cover will ensure your business retains its value should you need to divest in the future.

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Key Person Insurance

Key person insurance can assist in protecting your business in the event that a key contributor to your business success suffers death, disablement or illness. The insurance will provide you with a lump sum payment to ensure business stability and cover any potential losses in business revenue, reduce debt obligations and fund the hiring and training of a replacement employee.

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Debt Protection

Debt protection insurance pays a lump sum to cover business debts should a business owner pass away, suffer a major illness and/or be unable to work again. This is particularly important for small businesses owners who have provided a personal guarantee against the family home for business related debts as it ensures the debts can be repaid without having to risk the sale of the family home and other personal assets.

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Buy/Sell Insurance

A buy sell agreement is a legally binding agreement covering the transfer of ownership of a business owned by more than one party. It covers voluntary exit scenarios such as retirement & resignation as well as involuntary exits such as exit due to death or total permanent disablement. The agreement ensures remaining owners who are experts in their field retain control of the business and the exiting owner or their estate is paid out to the value of their stake in the business.




Estate Planning

What would your estate look like if you passed away today?


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While its not something that people like to think about estate planning is an important part of your overall financial strategy.

Implementing an effective estate planning strategy will address the following in the event of your passing:

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Beneficiaries

Ensure that your estate assets and any non-estate holdings such as superannuation and life insurances are passed on to your desired beneficiaries in an efficient manner.

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Children

Provide control over who is appointed as the guardian of your children should you pass away and that estate assets are protected for the benefit of your children.

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Your Welfare

Ensure you have control over who would be appointed to act and make financial and medical decisions on your behalf should you lose the capacity to make these decisions yourself.

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Your Estate

Reduce the likelihood of your estate being contested.

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Taxation

Ensure taxation on payments made to your beneficiaries is minimised.

Wealth Protection services offered by Enlightened Private Wealth include:


Personal and Business Insurance



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Needs Analysis

Identification of your personal & business insurance needs based on your individual personal and business circumstances to ensure you have the right level of protection for you, your family and your business both now and into the future.

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Product Placement

Placement of appropriate insurance products based on your individual personal and business needs. With access to a broad range of available products in the market we are able to compare and seek out the best value product based on your needs.

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Tax Effective Structuring

Structuring of personal & business insurance to ensure that premiums payable and any benefits claimed are managed in a tax effective manner.

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Review

Review of existing personal and business insurance arrangement to ensure that your existing arrangements continue to meet your needs.

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Claims Management

We have managed multiple claims and are experts in claims management, easing the burden on you, your family and business when you are most in need of support.

Estate Planning



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Placement and Review of Superannuation, Pension & Life insurance nominations

Assist with the review of existing and implementation of new superannuation, pension and life insurance nominations in line with your wishes.

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Structuring

Structuring of assets/superannuation/pensions and life insurances in a manner which minimises estate taxation paid to your beneficiaries.

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Referrals to a Solicitor

Where required we are able to refer you to an appropriately qualified solicitor to review and/or establish the appropriate estate planning instruments such as Wills, Power of Attorneys and testamentary trusts.

Let us achieve your goals and secure your future today!

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