Jim Gleeson - Financial Planner
"I cannot direct the wind but I can help you to adjust the sails."
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"No advice" Ezicover Insurance
Ezicover insurance offers:
- A lump sum payment of up to $500,000 on death or terminal illness.
- A lump sum payment of up to $150,000 on diagnosis or occurrence of a heart attack, stroke, cancer or coronary artery by-pass surgery.
- A monthly payment of up to 75% of your average monthly pre-tax income if you are unable to work due to sickness or injury.
- A lump sum payment on accidental infection of HIV (Human Immunodeficiency Virus) or Hepatitis B or Hepatitis C while working in specified occupations.
- "Do It Yourself" insurance.
Superannuation Choice
From 1 July 2005, millions of Australians are now able to choose the super fund that works best for them. It's your money, you should have a say in where it goes.
There may be a strong reason why you might choose one particular superannuation fund over another. For example, check if your employer will pay more money into one fund than another. Or, you might be a member of a particularly generous superannuation fund that gives you benefits you can't get anywhere else.
If this is not the case and you are thinking about choosing your own fund, compare the following features of the funds you're considering.
- Insurance can cover you in case you die, become unable to work,
or need money during an illness. If you are considering changing funds
and want insurance, make sure you will be covered in the new fund.
Some funds may not offer insurance, or you may have to pass a medical examination or undergo a waiting period before they will cover you. There may also be restrictions for age, dangerous jobs, part-time or casual work, and maternity leave. Some funds make some insurance cover compulsory. Some allow you to opt out and not be charged, while others allow you to opt in.
Decide how much insurance you want and compare the costs. These can vary significantly between different superannuation funds.
Remember that your superannuation fund's insurance benefits may cost you less than insurance you could buy yourself. - Investment options. Some funds let you select where your superannuation will be invested. Some options offer higher returns, but with a higher risk that investments may go down as well as up. Other options offer greater security but with lower expected returns. Select the level of risk and return you are comfortable with.
- Fund services include help lines or websites for fund members, regular member statements and many other features. Decide which services are important to you and check whether they're offered at a reasonable price.
- Fees and costs you must pay. Keep your fees and costs down; otherwise you may have a lot less money to retire on. For example, your final return could be reduced by up to 20% over 30 years if your total fees and costs are 2% rather than 1% (for example from $100,000 to $80,000).
When you compare fees, make sure you're comparing funds with similar benefits and investment strategies.
"I cannot direct the wind but I can help you to adjust the sails."
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P: 02 9428 1370 Mobile 0412 575 526 | E: info@futureprom.com.au
ABN 96 398 071 419 | Authorised Representative Number: 258204 | AFSL No.:312478
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