Facts About Tradies Income Protection!!!

Experiencing an injury and to take a period of time off work at some stage of your life on low or no pay can be stressful at time. Income protection is absolutely vital for tradies running their own businesses or working as sub-contractors as they have no access to sick leave’s or compensation.

What is Income Protection Insurance?

Income protection is specially designed to replace your income if you cannot work for a period of time due to an injury or illness. Depending on the policy option you choose, Income protection can replace upto 75% of your income all the way.

Tradies Think that its’s Too Expensive:-

This just an excuse we hear from tradies when quoting their income protection Insurance. It is correct that income protection is costly but you can choose your policy wisely. Some injuries may result in a few weeks off work, which most tradies will be able to get through. But what if you couldn’t work for a few months, a few years or ever again? That’s where income protection can cover your injuries at or away from work.

If you still believe that the cost of income protection is too high, speak to your trade insurance broker about other options which may mean you can get a more basic level of cover for a more affordable price and they will be more happy to tell you about the tradies whom they have helped through the process of claiming on their income protection policies.

How Income Protection Policy Benefits You?

However, daring you are in your life, but you can’t take risk on your income which is the major source of fulfilling your as well as your family’s basic needs. The importance of money is known by everyone today but there is another part too, on which you need to pay full attention. Well, it’s a protection of your income.

The first thing come to mind by protection is of course, threat. Which type of threat you have on your income? Will someone steal it someday or will it be deducted from your employer? Don’t get confused! It just that, any mishap can occur you anytime during work or outside. In that case, you need some companion who will secure you financially. Income protection is all about that security.

In Australia, Income Protection policy is the most adopted cover by the professionals. And those who don’t get insured yet, they must be lacking the most beneficial deal. If you too are planning to be part of this policy, you must be aware about its benefits.

Below are some benefits I have listed:

Level of Protection: If we talk about one of the insurance provider, Riskwisdomfp, they ensure a sum of 75% of your salary paid to you during any injury that resist you from working. You can also use this money in paying mortgage expenses including other family expense. So, in that way you can call it, Mortgage income insurance too.

Benefit Period: It is totally up to the insurance holder, how long he/she can manage financially during their disability of working, which is a good part I guess.

Expert Advice: Most of the reputed insurance provider like Riskwisdomfp has experts in their company who guide you with the best insurance cover, so that you can adopt it accordingly.

So, it’s totally up to you, want to save your future or not!

Financial Advisor “- A key to secure financial future”

Choosing a financial advisor might seem daunting task but if you need help with a financial decision it’s worth persevering. A good financial planning advisor can save you money and a lot of worry.  The key to finding the right financial adviser is working out what type of advice you need.

With the variety of investment options available today, we suggest that you seek guidance from a financial advisor. Nearly every investment entails special risks that should be discussed with an experienced professional. Your investment goals are unique, and an advisor can help you find the right fund to match your needs.

Anyone can hang out a shingle as a financial planner, but that doesn’t make that person an   expert.  So look for a financial adviser who is a certified financial planner (CFP). They're licensed and regulated, plus take mandatory classes on different aspects of financial planning.

There are lots of reasons why people need advice from a financial adviser but there are also lots of different types of adviser, so it pays to know who to go to and when.

The first step in creating an investment plan is to work with your adviser to understand your current situation and decide what you want to accomplish with your portfolio. Our financial advisor will help identify what is important for you, including your attitude towards investment risk, asset allocation, investment costs, and other issues. This will help guide the decisions you and your adviser make about your portfolio.

Is Your Current Income is Protected?

Income protection is the crucial element of financial planning. Most people pay full attention to insure their possessions like car, home etc. But personal insurance and business insurance is the matter which requires to be at high priority in our financial plans.

It takes a moment to consider your own value to your family. Specially, Doctors or Dentist who always guard people from sufferings. They need to learn the value of income protection cover that protect their family, if they himself/herself became ill or died. Loss of earning is like a body without soul, totally useless. This is the time when nobody comes forward to help your family in your absence. Because the source of income is limited, many families survive their own life with very difficult, how they will help others.

At RiskwisdomFP, we have an experience and great deal of knowledge, if we talk about health, life and dentist income protection cover. Our expert advisors are always ready to feed any query and explain the types of policy that best suits your requirements. Today, everybody is working for themselves, but RiskwisdomFP is something on which you can totally rely on.

It is the common mentality, why dentist require insurance? But, nobody knows what happen next. Dentist are also human being, anything can happen them unexpectedly which led to lack of work. So, it is necessary to be financially prepared to reduce the financial impact on your loved ones if the worst could happen.

Keyman Cover Insurance Saves a Businessman From Financial Ruin

Everybody is aware about the rising cost of life essential things these days but they aren’t planning smartly for their long-terms requirements. Today, every person is earning for themselves, we are not living in ancient times where everybody works and give their earning to the head of family. In former ages, people were kind hearted and feel the pain of every individual. But in this era, everybody is selfish and working for themselves. This is acceptable also, not because the time has changed, the reason is unemployment, difficulty in finding jobs and salary issues. So, it become necessity to think wisely and get prepare for unexpected financial risks.

In the present condition, every member of the family go to work so that they can survive easily and earn their livelihood. As no one will come forward and pick up the tab in your difficult time. So the only way that you can select to face the financial risk in future is Insurance. We often get annoyed with some agents who called us to describe their policies and force to adopt life insurance policy, keyman insurance, business insurance etc. In reality, they are trying to make you aware about the financial risk what you can expect anytime. 

Though you have to pay installments in insurance policy but at the end, it will turn beneficial only for you. For example, if you are adopting keyman cover insurance, it will save you from financial loss in business. It is one of the best policy one can adopt for any kind of business small or big. It take ages to establish own business and a moment to ruin. Decision is your’s, think wise.