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Insurance

  • Insurance

    RSM Financial can help provide you with the right insurance advice relating to income protection, trauma insurance, total & permanent disability (TPD) and life insurance. We also are specialist in business protection strategies which include Buy/ Sell insurance, Key Person coverage and business expense cover. RSM Financial insurance advice is designed to create a seamless process when selecting quality insurance to protect your family or your small business. Our team and service provides guidance and expert advice on everything from administration, processing of claims, selecting the right insurer for your occupation and most importantly tailoring the insurance to your personal financial needed. Our aim always being to ensure a seamless process, come claim time.

Insurance, that necessary evil!

At RSM Financial we often start this conversation by saying; "I hope this insurance is the biggest waste of money you'll ever spend"! Because if we hear you say this, it means you're still with us and hopefully fit and healthy. Rest assured, the protection we put in place is from reputable companies and where possible state of the art. We also quite frequently here the exact opposite; "RSM, thank you! I was unsure of whether I needed this cover, but I couldn't have survived without it". We provide you with advice around tailoring insurance cover to your needs. This means we place focus on your financial situation and its inherent risks. We don't just insure your income, we take into account what you actually spend, how you work, any safety net you currently have and put forward a proposal to better your current situation and here possible eliminate costs.

Medical Based Policies

Life insurance often requires a personal statement and additional medical information to be supplied to the company. A lot of people think undergoing a medical is a pain and too much hassle. So now the are many insurers that state they don't require medicals, whilst offering the same cover amount at a cheaper price. RSM Financial wants to challenge your thoughts. Why would high quality insurers want a medical and also charge more? How does this make any business sense when trying to compete against their counterparts that offer cheaper prices and don't require medicals? It comes back to the quality of their insurance offering. So please don't think every insurance offering is the same, because there not!

  • Cover options

    Option you can select when designing your life insurance, Income Protection, Total and Permanent disability cover or Trauma insurance vary between each insurance provider. The options you select to align the insurance cover to your personal needs will play a large role in dictating the price. It is important that you understand what you're paying for or what you are compromising in seeking a lower premium. Below is a selection of the main options we think you might like to know:

  • Stepped or level premiums

    Stepped premiums increase as you age and they typically the increase by 5-8% per annum. Level premiums, unless indexed, are designed to remain at the same price and are typically more expensive initially, but provide significant savings the longer you hold the policy. There are some circumstance where the insurer can raise the level premium. So think, is the cover needed for the long term?

  • Indemnity or Agreed Income protection

    Agreed- means the amount of cover the policy states is the amount of cover your will be paid. Indemnity, requires you to submit, upon claim, proof of the last two years income. The average of your income will be the salary the 75% insured cover is based off, but the insured amount will not increase over the stated insured amount. So think, does your wage change depending on tax, work load, commission etc?

  • Own or Any occupation definition

    Any occupation mean that in the event of you becoming disabled "you're permanently unable to return to work in an occupation you are reasonably qualified for by training or experience". Own occupation, means you are unlikely to return to work for which you're reasonably qualified.

  • Policy Link options

    This option allows you to link policy options that may not be available within superannuation policies. What this gives you is the ability to pay for the bulk of the premium through superannuation, but enable those options that are not applicable to superannuation contracts. The cost of the policy option is then catered for in an external superannuation policy. Options like Own Occupation under total and permanent disablement or agreed value income protection are option not available within super. Premier linking makes these available and allow the majority of premium to be paid from superannuation.