Eight steps to your future financial wellbeing
To help ensure your risk insurance plan is properly funded, we employ our disciplined eight-step insurance portfolio construction process. Importantly, your risk insurance plan will not be a pre-packaged solution. It will be as individual as you and/or your business are – and will be tailored to your requirements for the best use of your financial resources now, and in the future.
We start by assessing your current situation – if the unexpected happened today, what would be the financial shortfall? In other words, how much money would be required for you and/or your family to replace your income... and pay for other expenses? Or, if you own a business, how much capital would be required to keep it afloat should it lose you or another key person?
We then develop strategies to help you transfer that risk to insurance companies, and identify which types of insurances you require. We also help you qualify for tax deductions on the annual premiums where possible.
Next, we research the major, reputable insurance companies to find the insurances which provide you with the right level of protection, including the definitions and exclusions which best suit you, your family and/or your business. Of those insurances which meet your needs, we obtain quotes to ensure we recommend the most cost effective products for you.
The next step is for you to determine if that cost is affordable. If it’s not, you might choose to reduce the cost by reducing the amount insured – in other words, retaining some of the financial risk yourself.
Once you have made that decision, we finalise your risk transference plan, and arrange the purchase of the recommended insurances on your behalf. That may require you to undergo a physical exam from a doctor (which the insurance company should pay for), as well as completing the required paperwork and declarations (we will assist you with this).
Once your insurance portfolio is in place, we will regularly review it – and your situation - to ensure your portfolio continues to be relevant and cost effective. Should your situation change along the way, or if the legislative framework in which we work changes, we will work with you to modify your risk insurance plan accordingly.
Find a Financial Adviser near you
Australian Unity Personal Financial Services Limited (ABN 26 098 725 145) AFS
Licence No. 234459, 114 Albert Road South Melbourne VIC 3205.
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