Imagine if you knew you are going to have a car accident or predict what the doctor is going to tell you at your next check up or you knew what the bad news was at the end of the line on the call you are about to receive.
While we would all like to think that unplanned and unwanted events will never happen to us, the reality is that they do. Every year thousands of Australian families are affected by unplanned events which can have substantial change on their financial well-being.
Unfortunately it may happen to any of us, any day.
• 93 Australians die from Cancer
• 137 Australians die from Coronary Heart Disease or Stroke
• 14 Australians die from accidents
• 26,000 have Heart Attacks - 60% will survive at least 1 year
• 23,000 develop Malignant Cancer - 40% will survive at least 5 years
• 18,000 suffer Strokes - 80% will survive at least 1 year
• 1 in every 11 women will develop Breast Cancer in their lifetime - 91% will survive at least 2 years
90% of the Australian population have at least contributing risk factor to heart disease.
Source: Heart, Stroke and Vascular Diseases – Australian Facts 2004, National
Heart Foundation of Australia and Australian Institute of Health and Welfare
Looking out for your lifestyle
If an unplanned event does occur, you’ll generally have enough to worry about without adding the burden of stressing about money too. A risk management strategy can help give you the peace of mind that comes from knowing that you are in control of your financial obligations.With Outlook you can develop a strategy that looks out
for your lifestyle…
When you can’t work for a while
If you or your spouse suddenly have a reduced income due to sickness or injury, you can ensure the bills won’t pile up with Income Protection Insurance. You receive the insurance benefit as an income stream of up to 75% or your income, for a maximum specified period.
If you become seriously ill or hurt
If you or your spouse has an incapacitating illness (including cancer, heart attack and stroke), you can keep your income stream healthy with Trauma Life Insurance. It can help you cope financially with the effects that trauma can have on your life. It can remove the financial stress and pay for changes you may need to make to your lifestyle.
If you become unable to do your job again
If you or your spouse has a seriously incapacitating illness or accident that means you are unlikely to be able to return to your normal occupation, you can minimize the financial effect with Total and Permanent Disablement Insurance. You can choose the level of protection you need (usually expressed as a lump sum).
If you die
Death is not something that most of us like to think about. However, it is an unplanned event that can be planned for. There are various forms of Life Insurance available and your Outlook financial planner will help you assess all the variables and select the optimum policy for your needs.
The superannuation option
Paying your Life Insurance premiums through your superannuation can be an attractive, tax-effective option because contributions are paid before earnings are taxed. When insurance is held through your superannuation, death benefits paid to the surviving spouse are tax free up to the pension RBL (Reasonable benefit limit).
Your life insurance premium contributions can also form part of your compulsory superannuation contribution and are exempt from contributions tax.