Phil Thompson, a financial adviser and founder of Skye Wealth, shares vital insights on life insurance. He explains why many Australians are under-insured and how to assess your coverage needs. Learn effective strategies to save on premiums and avoid common pitfalls in insurance decisions. Thompson highlights the unique challenges faced by Australians living abroad, emphasizing the importance of retaining an Australian policy and how mental health is increasingly considered in coverage options. Tune in for expert advice that could save your financial future!
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Key Life Insurance Moments
Consider life insurance when experiencing significant life events like buying a house, getting married, or having children.
These events often come with increased financial responsibilities.
insights INSIGHT
Factors Affecting Premiums
Insurers evaluate factors like job, gender, smoking habits, and family history to set premium levels.
Males often pay more for life and TPD, while females pay more for income protection and trauma.
volunteer_activism ADVICE
Reducing Premiums
Adjust policy features like the waiting period on income protection to lower premiums.
Consider the potential cost of a higher excess at claim time.
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In "Get Started Investing," Bryce provides a straightforward guide to the world of finance, demystifying complex concepts and making investing accessible to beginners. The book covers fundamental investment principles, risk management strategies, and practical steps to build a diversified portfolio. It emphasizes the importance of long-term investing and offers actionable advice for readers at various stages of their financial journey. The book is designed to empower readers to take control of their financial future with confidence and clarity. It is a valuable resource for anyone looking to start their investment journey or improve their existing strategies.
Don’t Stress, Just Invest
Don’t Stress, Just Invest
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Bryce
In "Don't Stress, Just Invest," Bryce offers a practical and reassuring approach to investing, emphasizing the importance of long-term planning and emotional resilience. The book tackles common investor anxieties and provides strategies to navigate market volatility. It explores various investment options, including stocks, bonds, and real estate, and offers guidance on building a diversified portfolio that aligns with individual risk tolerance and financial goals. The book encourages readers to develop a disciplined investment approach and avoid impulsive decisions driven by fear or greed. It is a valuable resource for investors of all levels seeking to build wealth with confidence and peace of mind.
Phil Thompson, financial adviser and founder of Skye Wealth, is back to help us get our heads around life insurance.
In today's episode we speak to Phil about:
Why so many Australians are under-insured (and how to figure out if you are)
The best ways to save money on premiums
The common mistakes he sees Australians make when getting insured
How Aussies living overseas can now access Australian insurance
In the spirit of reconciliation, Equity Mates Media and the hosts of Equity Mates Investing acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.
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Equity Mates Investing is a product of Equity Mates Media.
This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional.
Equity Mates Media operates under Australian Financial Services Licence 540697.
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