Australian Finance Podcast

Insurance: EVERYTHING you need to know about income protection, TPD & life insurance

Mar 6, 2024

Experts discuss everything about personal insurance from income protection to life insurance in a deep dive episode. They highlight the importance of expert advice in selecting the right policy, managing insurance through super funds, and aligning wills with insurance nominations. Real-life examples of insurance benefits in critical health situations are shared, emphasizing the need for comprehensive coverage and regular policy reviews.

01:18:26

Creator website

Episode guests

Phil Thompson

James O'Reilly

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Episode notes

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Quick takeaways

Personalized insurance is vital for financial protection against unexpected events like critical illness, disability, or death.

Specialized insurance advisors like James and Phil can offer tailored coverage and cost-effective solutions for clients.

Utilizing superannuation for insurance can provide tax benefits but requires understanding exclusions and restrictions for effective coverage.

Choosing between stepped and level premiums is crucial to align insurance costs with long-term financial goals and changing needs.

Deep dives

Importance of Personal Insurance

Having personal insurance is crucial, especially as it provides financial protection in case of unexpected events like critical illness, disability, or death. This podcast episode emphasizes the significance of insurance tailored to personal situations, such as life insurance, income protection, and trauma cover. The discussion delves into how insurance fits into an individual's overall financial plan, highlighting the role of insurance advisors like James and Phil in guiding clients through complex insurance decisions.

Introduction

3min

Specializing in Insurance Advice: A Holistic Approach vs. Tailored Service

9min

Navigating the Complexities of Insurance

23min

Navigating Insurance Coverage in Critical Situations

25min

Necessity of Aligning Wills and Insurance Nominations

16min

Financial Information, Sponsor Introduction, and Wealth Creation Strategies

6min

Insurance, Property Investment, Portfolio Management, and Business Growth Strategies

2min

Educational Resources and Platforms by Rask Network Promotion

2min

Insurance for 80 mins? If you can make it through this episode, you can do anything in life.

Owen Rask is joined by financial advisers, Phil Thompson from Skye Wealth, and Jame's O'Reilly from Northeast Wealth, on this special deep dive episode into personal insurances: income protection, life insurance, and TPD/disability.

This episode is EPIC and is an amazing primer for how to get and keep insurance.

Book a 15-min free insurance call with Skye: https://bit.ly/R-insur

Get financial advice from James (select age 50-60): https://bit.ly/R-plan

~~ Other resources ~~

Access Show Notes: https://bit.ly/R-notes
Kate's book, Buying Happiness: https://bit.ly/kate-amazon
Invest with Owen: https://bit.ly/R-invest
Mortgage Broking: https://bit.ly/broke-rask
Financial Planning: https://bit.ly/R-plan
Property Coaching: https://bit.ly/R-P-coach
100-point property checklist (PDF): https://bit.ly/prop-check
Accounting with Grey Space: http://bit.ly/3DG5lWS
Business Coaching: https://bit.ly/o-coach
Ask a question: https://bit.ly/3QtiY00

Pearler, the broker for long-term investors. Sign up to Pearler using the code “RASK” for $15 of Pearler Credit: bit.ly/Pearler.

DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.

Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg

Learn more about your ad choices. Visit megaphone.fm/adchoices

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Australian Finance Podcast

Insurance: EVERYTHING you need to know about income protection, TPD & life insurance

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Importance of Personal Insurance

Specialization in Insurance Advice

Insurance Inside Superannuation

Premium Structure: Stepped vs. Level Premiums

Challenges with Increasing Premiums

Importance of Understanding Different Insurance Types

Importance of Seeking Expert Financial Advice

Get the Snipd
podcast app

AI-powered
podcast player

Discover
highlights

Save any
moment

Share
& Export

AI-powered
podcast player

Discover
highlights

Australian Finance Podcast

Insurance: EVERYTHING you need to know about income protection, TPD & life insurance

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Importance of Personal Insurance

Specialization in Insurance Advice

Insurance Inside Superannuation

Premium Structure: Stepped vs. Level Premiums

Challenges with Increasing Premiums

Importance of Understanding Different Insurance Types

Importance of Seeking Expert Financial Advice

Get the Snipdpodcast app

AI-poweredpodcast player

Discoverhighlights

Save anymoment

Share& Export

AI-poweredpodcast player

Discoverhighlights

Get the Snipd
podcast app

AI-powered
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Discover
highlights

Save any
moment

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highlights