Annual Insurance Reviews keep protection relevant and current
At Continuum Financial Planners Pty Ltd, insurance reviews are recommended to be undertaken on a regular basis. Just as any financial plan should be reviewed on a regular basis, so should your overall wealth protection strategy.
Our team offers an insurance review process that will raise with you, questions relevant to:
- why you hold the policies in the first place:
- are those reasons still current?
- is the level still appropriate?
- have any relevant circumstances changed?
We usually time this offer around the anniversary date of one of the policies that we manage on your behalf.
Insurance against Personal Risk is a Wealth Protection Strategy
Your personal risk insurance (life insurance) is an important part of your financial plan. Whether that ‘plan’ is an informal one; or a formal, documented wealth protection strategy it is incomplete when this element is absent. As an important element of your wealth management process, each Personal Risk Insurance policy is designed to serve specific strategic purposes – and:
- the type of cover;
- the amount of the cover; and
- who should be the owner of the respective policies –
…all need careful calculation and consideration.
What circumstances should prompt an insurance review?
Changing circumstances that can impact on the effectiveness of your insurance cover, include –
- employment status;
- salary level;
- marital status;
- financial dependants; and even
- smoker status.
Interestingly, many of these circumstances should also be ‘triggers’ to review your Will and Estate Plan generally.
Securing an annual insurance portfolio review
These reviews are undertaken at no cost to you if we manage your insurance portfolio as the ongoing commissions we receive are designed to meet our cost of providing the service.
If you would like a review of your insurance portfolio, please contact our office to arrange either:
- for us to be appointed managing adviser to your insurance portfolio; or
- if we are managing the portfolio, to make an appointment (see how, below).
The experienced advisers at Continuum Financial Planners Pty Ltd have access to a range of insurance providers; as well as to strategies that serve individual purposes. Our mantra is that – ‘we listen, we understand; and we have solutions’ that we communicate in personalised, professional wealth management advice.
To meet with an adviser and ensure your best interests are being served through your wealth protection plan, call our office on 07-34213456, or, at your convenience, use the linked Book A Meeting facility to arrange your appointment for an insurance review.
(This article was originally published by us in August 2009. It has been occasionally updated/ refreshed, most recently in November 2024.)
