Australian Finance Podcast

Phil Thompson, an expert in life insurance and income protection, shares valuable insights on making claims in this detailed discussion. He outlines the essential steps for claiming income protection and life insurance, addressing TPD, Trauma, and Childs Cover processes. Phil highlights the significant role of insurance advisers in reducing stress during claims and the necessity of understanding the insurance PDS. He also shares real-life stories that illustrate common challenges and solutions in managing claims, offering listeners practical advice for navigating this daunting landscape.

Phil Thompson, a life insurance and income protection expert from Skye Wealth, dives deep into the importance of reviewing your personal insurance. He highlights life events like having kids or buying a house that should prompt a reassessment. Phil clarifies that life insurance is not the same as car insurance and shares strategies to manage costs effectively. He discusses the differences between stepped and level premiums and explains why increasing coverage is more complex than decreasing it. This enlightening discussion is a must-listen for anyone concerned about their insurance needs.

Phil Thompson, an expert in life insurance and income protection from Skye Wealth, shares invaluable insights on navigating the insurance application process. He debunks myths surrounding medical underwriting and duty of disclosure while explaining the critical fact-finding phase. Listeners learn about the nuances of underwriting, the impact of pre-existing conditions, and the importance of tailored applications. Phil also discusses tax implications of income protection policies and the flexibility in managing life insurance, emphasizing consulting with advisors for better outcomes.

How do you actually buy life insurance and income protection? Life insurance and income protection expert Phil Thompson from Skye Wealth joins Owen Rask on The Australian Finance Podcast to talk personal insurance in our mini series.Topics covered:- How to buy insurance through Superannuation- Risks of changing Super funds without checking your insurance- Getting insurance through a financial adviser- Getting insurance yourself- Income protection and life insurance through an employer- Insurance industry disclosures, claims stats & average claim amounts- How to assess your disability insurance needs- How to use superannuation to fund premiums, even if you change investment optionsMini series goodies:- Book a call with Skye: https://bit.ly/R-insur- Insurance checklist (PDF): https://www.raskmedia.com.au/life-insurance/~~ Finance Podcast resources ~~Ask a question: https://bit.ly/3QtiY00Access Show Notes: https://bit.ly/R-notesRask Community: https://bit.ly/3UkFWelInvest with Owen: https://bit.ly/R-investJoin Pearler (discount): bit.ly/PearlerJoin Pocketsmith (discount) https://bit.ly/R-PocketSmithMortgage Broking: https://bit.ly/broke-raskFinancial Planning: https://bit.ly/R-planProperty Coaching: https://bit.ly/R-P-coach100-point property checklist (PDF): https://bit.ly/prop-checkAccounting with Grey Space: http://bit.ly/3DG5lWSBusiness Coaching: https://bit.ly/o-coachDISCLAIMER: 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

Phil Thompson, an expert in personal insurance from Skye Wealth, joins to unravel the complexities of income protection insurance. He explains its benefits and the different types of coverage available. Listeners learn how to accurately calculate the income protection needed and the features to consider. Phil contrasts income protection with Work Cover, emphasizing the importance of personalized financial advice during challenging times. The discussion also touches on holding multiple policies and the evolving insurance market.

Phil Thompson, a life insurance and income protection expert from Skye Wealth, joins Owen Rask for an enlightening discussion. They break down lump sum insurance, including life, trauma, and TPD coverage. Listeners learn about the different types of policies and their unique benefits, as well as the crucial differences between trauma and TPD. The duo emphasizes the importance of adequate coverage for families in times of crisis and explores the nuances of insurance commissions, ensuring transparency in finding the right financial guidance.

Phil Thompson, a life insurance and income protection expert from Skye Wealth, shares valuable insights into personal insurance. He discusses its importance and the various types, including life cover and disability insurance. The conversation dispels common myths and clarifies how personal insurance differs from general products. Phil also emphasizes the need for ongoing policy reviews and the role of financial advisors in navigating this complex landscape. Listeners are encouraged to reassess their coverage as they face new life challenges.

Kate Campbell, a personal finance expert, and Owen Rask, a finance enthusiast, dive into savvy ways to tackle rising grocery costs. They share practical tips on meal planning, using discount gift cards, and exploring local grocers. Learn how bulk buying and seasonal shopping can drastically cut your bills. They also emphasize the importance of utilizing technology and cash-back programs. With their light-hearted anecdotes, you'll find efficient and enjoyable methods to save money while shopping!

Paul Clitheroe, a seasoned financial expert and personal investment strategist, shares invaluable insights on investing. He offers advice for young investors and reveals common investment scams. Clitheroe's own investment strategies, particularly his confidence in Australian shares and property, are discussed, alongside the transformative rise of ETFs. He draws intriguing parallels between sailing and investment, stressing the importance of planning and adaptability. Personal stories, including winning the Sydney to Hobart yacht race, add charm to his financial wisdom.

Discover what happens when ASX-listed companies fail and learn the importance of having a solid emergency fund. Explore effective investing strategies, even while traveling abroad, with tips on micro-investing and understanding overseas taxes. Dive into a three-bucket savings approach for financial security and understand the role of bonds in a balanced portfolio. Hear about the regrets of delaying investment and why starting early is key. Plus, check out resources for financial education to enhance your investing journey!