Financial Planning Advice How Can You Prevent Yourself From Excessive Spending?

 Purchased directly from an insurer, as opposed to buying through a financial adviser, Direct Business Insurance and Life Insurance is obtained with minimal provision of individual medical information, and there is minimal underwriting, if any at all.


Pre-existing Conditions


If there is an 'automatic acceptance', and you provide no detailed medical information to obtain your insurance, then it is highly likely that anything considered a 'pre-existing condition' will not be covered. It's as simple as that. The evidence at the Commission has shown the extremely negative consequences of the direct insurance channel, and highlights the valuable contribution a financial advisor Melbourne can make when ensuring that individuals are getting the right insurance for their own individual circumstances.


Case Study


One situation identified by the Royal Commission is mind-blowing, and grossly inappropriate. In this instance, an insurer sold a policy to a man with an intellectual disability. An internal email chain that was distributed within the Insurance Company's Sale's team highlighted the insurer's intention to sell a particular product, despite the extensive negative impact it would have on the life of clients, especially someone with a pre-existing intellectual disability. The email shows that there is $150 on offer as an incentive to sign up as many 'lives' as possible: & quot; Target is 400 lives by lunch time. " " Everyone aiming for seven lives over the first two sessions - 3.5 lives per session, easy peasy - and we'll smash 400 lives to lock-in the incentive money for the last part of the day." "Also the draw for Tuesday is coming up, let's smash it out folks and lock this cash money in." Sorry to burst this giant bubble, but yes, a free gift voucher, free TV subscription and other gimmicks should ring alarm bells. Do your research. There may be alternative motives that do not have your best interests at heart.


It's a sad practice. One that Partners In Planning are controller service Raleigh NC to push aside. Spending 20 minutes to consider your Business Insurance and life insurance choices now, will avoid any confusion later. In our opinion, it's the greatest gift you can give to both yourself and your family. Find out more about the Business Insurance advice and Life Insurance policy that is right for you by contacting Partners In Planning. There's no better time.


Keeping your business on an even keel with Business Insurance Advice


Profit margins, business loans, demanding customers and more! Smooth sailing in a business is hard enough without adding the complications of injury, illness or even the death of a business partner or key person. That's why every business needs Business Insurance Advice business


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