Australians do not consider life insurance a priority and severely underestimate the cost of being off work with illness or injury, according to research by Commonwealth Bank’s insurance arm CommInsure. Many respondents rank Christmas as more important than regular “health checks” on their insurance, the survey finds. The survey shows most Australians could support themselves for only about six months after a serious illness or injury that affects their ability to work. While 85% of respondents cite savings as a source of income support, more than 50% have “severely underestimated” the cost of treating serious injuries. Many Australians have a false sense of security about wealth protection and believe they can “turn to support networks such as savings or the Government to cover the costs of unforeseen circumstances”. Overall, 60.3% of respondents have life insurance, with 41.3% covered through their super fund only. While insurance provided within super is a good start, it’s important to continually assess your insurance needs, taking into account the worst-case scenario to ensure adequate protection in the event of a serious injury or illness.
Sunshine Coast Business Awards
The team from Stream Financial had a fantastic night at the Sunshine Coast Business Awards celebrating business success. Congratulations to all the winners, as finalists we were amongst the best of the coast.
Tax Deductable Premiums
Did you know? Income Protection insurance premiums are tax deductable, this means by having this policy can help reduce the amount of tax you pay each year. If you’re self-employed, we can even structure your insurance in such a way that Life and TPD insurance becomes tax deductable as well.
Skin Cancers in Australia
Did you know? Skin cancers account for around 80% of all newly diagnosed cancers, and that between 95 and 99% of skin cancers are caused by exposure to the sun? In response to this growing problem some leading life insurers have expanded their Trauma definitions to ensure Australian’s are covered when they need it most. A full benefit can be paid for clients diagnosed with certain skin cancers. With summer approaching perhaps it’s time for a skin check and review of your current insurances.
IPad CompetitionWinner
Congradulations to Paul Gaughan of Queensland Property Investors Group from Kawana Waters, our IPad competition winner! Thank you for your referral and we hope you enjoy your new IPad. This is what Paul had to say about his win;
“Easiest prize I have ever won, just told a mate who recently hurt himself at work about Stream Financial drop his name in and bam! New iPad for me. That’s you to the team for the prize.”
This year at Stream Financial
What a busy year it has been at Stream Financial! We’ve been flat out, with plenty of projects we’ve been working on, the Stream Team has been growing and becoming recognised for their work.
We added new Risk Advisors, Lachlan Money and Adrian Read to our team, expanding our staff to 6. Lachlan is a recent graduate from the University of the Sunshine Coast, having completed his Bachelor of Commerce degree in Financial Planning and has fitted in with us here at Stream seamlessly. Adrian is a very experienced advisor and holds a wealth of knowledge on Insurance.
While there are some new faces getting settled into their roles, a familiar face like Tim has been a whirlwind of activity. Having been nominated for the prestigious AFA Advisor of the Year Award, My Business Awards and becoming a finalist in the Sunshine Coast Business Awards Employer of the year… he’s had plenty on his plate.
Not only has Tim been getting recognition for his work, but the entire team at Stream have made finalist for the Sunshine Coast Small Business award and are awaiting judgement for the My Business Awards.