Services

Life Insurance

There is no more effective or cost efficient way of providing emergency cash when a person is disabled, suffers a critical health event or dies

Life insurance is at the heart of what we do.  It can be categorised broadly below.

Death Cover

Also referred to as ‘Term Life Cover’, this provides a benefit in the form of a lump sum in the event of your death.

The proceeds can be used to meet your family’s outstanding commitments like a your mortgage, and to maintain your family’s standard of living.

Total Permanent Disability Cover

Total and permanent disability (TPD) insurance covers you covers you if you cant work again due to an illness or injury.  These policies pay a lump-sum benefit after the insured has been totally and permanently disabled.

A total and permanent disability event can cause serious financial challenges when you look at the lifetime loss of income as well as the fact that you may need to make profound changes to your lifestyle and even your living arrangements.

Income Protection

An income protection plan will pay a regular income if you are unable to work because of sickness or injury. Whether the disability is as serious as cancer or as minor as a broken arm, income protection provides a simple, cost-effective safety net when you can’t work.

Most policies will pay up to 75 per cent of your average monthly income, and in some cases even more, if a disability, illness or injury prevents you from working. Income protection premiums are tax deductible.

What about WorkCover?       

If you are covered by WorkCover, you will only be covered for the short term, and only if the injury happened in the normal course of performing your work duties. Serious injury can occur on the sporting field, playing in the yard and even on a day to the beach.  If this happens, WorkCover won’t pay a cent.

Income Protection insurance can also include Business Expenses cover

Business Expenses covers your business against fixed costs like rent, lease arrangements and non-income producing employees’ salaries, should you suffer a serious sickness or injury.

The plan can cover you for up to 100 per cent of your eligible fixed expenses while you are unable to work due to sickness or injury

If you are unable to work due to illness or injury, remember that you can’t drive sales and bring new business in the door. The business not only has to meet your entitlements, but also cover the costs of replacing your duties.

Trauma and Critical Illness Cover

Trauma insurance can help you cope financially with the impact of a serious illness or injury. It is paid as a lump sum and can be used to pay for changes to your lifestyle or for care required as a result of the trauma.

It’s important to note that this form of cover pays a benefit on diagnosis of one of the covered conditions.  There is no requirement to be disabled or unable to work, and the proceeds can allow you to seek the best medical advice or even the costs of alternative treatment overseas.

Statistically, one in two people will suffer a claimable trauma event between the ages of 35 and 65.

Children's Trauma/Critical illness Cover

Children’s trauma provides a lump sum upon the diagnoses of serious illnesses such as cancer or injury such as paraplegia, or severe burns, the funds can be used to help with any expenses, such as medical, rehabilitation or home modifications. These policies generally include a life insurance benefit and can be converted into adult policies when they get older.

Setting Everything Up For You

Once your strategy is set and you agree to go ahead, we make everything as easy as possible for you. This can include;

✓ Completion of all the relevant paperwork – you will still have to sign some things but we will do pretty much everything else

✓ Lodgement of relevant paperwork and secure retention of copies and records

✓ Organisation and follow through of underwriting and lodgement requirements such as medical test and information, financial and other documentation relating to your applications

✓ Liaison and follow through with the various financial and legal organisations to ensure that your arrangements are executed expediently

✓ Negotiation, management and advice with regard to acceptance terms or offers on your behalf

Financial Advice

Self-Managed Superannuation

Your Self-Managed Super Fund can purchase life insurance on behalf of members, however there are a few hurdles to cover to make sure everything is done the right way.

We can review your life insurance including cover via your Self-Managed Superannuation Fund.  We can make sure that your fund can do so and attend to your nomination of beneficiaries.

Estate Planning

Estate Planning is all about making sure the right people get the right amount at the right time.

Estate Planning is more than just having a will.  It’s about making sure that things go as smoothly as possible – when things haven’t gone well.

Unfortunately, if you don’t get your Estate Plan right, you can’t fix it after the fact.  Rectifying estate matters involves costly and time consuming work with lawyers and courts, and all at the worst possible time.

Our estate planning work with clients can include;

✓ The distribution plan  for your estate

✓ Superannuation entitlements

✓ Estate funding and equalisation

✓ Tax implications

✓ Business succession

✓ Testamentary trusts

✓ Enduring powers of attorney

Working with your legal advisers or ours, we can help you establish a plan to look after those you care about, in the easiest way possible. 

Business Succession Planning

When you’ve put a lot of time, energy and money into your business it makes sense for you to protect against the loss of your premises, inventory, vehicles and equipment; assets that are critical to the day-to-day operation of your business. 

What about your human assets?

How would your business survive the loss of an owner or key person due to Death, disability or critical illness? In conjunction with our legal specialists, Bemrose Life can arrange for a structured, funded succession plan to be established to ensure orderly and mutually acceptable business ownership transitions due to the death or permanent disablement of a partner of your business.

Material things can always be replaced or repaired, but a key person's death or disablement can result in financial loss more disastrous than any loss of, or damage to, physical assets. When a key person dies, or is permanently disabled, they're lost to the business forever.  This could mean a loss of experience and expertise, contacts and networks, management ability and sales results, which can create immediate and lasting financial problems for the business.

Ongoing Review

One way or another, your life circumstances are going to change.  To ensure that your plan continues to meet your needs, we review it with you periodically.  This involves:

✓ Making sure that we have current information with regard to your family, your income, asset and debt position, your business or occupation details, your risk profile and your objectives for the future

✓ A review of your strategy - and adjustment where necessary to keep pace with your circumstances

✓ Adjustment of your specific arrangements – such as life insurance policies, or estate documents – where required

You can contact us to discuss any planned transitions in your life, and in any case, we’ll be in touch from time to time to check in and see how things are going.