Doctors in Australia often consider life insurance – including income protection, trauma, death and Total and Permanent disability insurance – as part of their financial plan. One of many reasons that life insurance is an important consideration for Doctors, is because their income is dependent on their personal exertion (as opposed to passive revenue). So, if the worst were to happen – illness or injury or death – then their future income (which is often their biggest asset) can be compromised.
Doctors have a few options when considering their life insurance cover. A common approach is to get a personal review of your needs, circumstances and goals by an insurance broker like Experien Insurance Services – that offers personal financial advice. This review can identify the types and amounts of cover you may need, then consider what cover you already have, and then recommend if cover should be amended, and if so, with which insurer. Any amendment or new cover can then be managed with you. Existing cover was usually sourced either from a financial adviser, arranged directly with a life insurer or cover arranged via a public offer superannuation fund.
The advantages of using a broker includes :
- Often a wide range of insurers are considered
- The broker will help you obtain detailed financial and health information to present to the insurer to try get the best possible underwriting decision
- The broker can consider the quality of cover at each insurer when making a recommendation
- The broker can consider various options on how to structure the cover for tax benefits and other goals
- The broker can regularly review your cover on an ongoing basis – usually at no extra charge or fees
- A broker can assist with the most important aspect – being any claim that arises. Again, this is often done with no additional fee or cost
To find out more about the services of Experien Insurance Services and to arrange a complimentary initial consultation at no additional cost, contact us via the link below :
The information provided contains general information and examples and does not take into account your personal objectives, financial situation or needs. Note that the policy wording will differ from insurer to insure and loadings, exclusions and other limitations may apply by the insurer to each applicant on a case by case basis.
Life insurance and Financial Advice services are provided by Experien Insurance Services Pty Ltd (EIS) ABN 99 128 678 937 and Experien Financial Services Pty Ltd (EFS) ABN 32 631 346 757. EIS and EFS are a Corporate Authorised Representative (No. 320626 and No. 1274354) of Affinia Financial Advisers Limited ABN 13 085 335 397 AFSL No. 237857. See our website for our Financial Services Guide. Always read the Product Disclosure Statement issued by an Insurer before considering insurance
