Insurance Advice
No one likes to think about the worst-case scenario, but having the right insurance in place is one of the most important things you can do to protect yourself and your family. If you were unable to work due to illness or injury, or if something happened to you unexpectedly, could your family maintain their lifestyle?
What We Do
Great Advice provides personalised insurance advice to help you protect what matters most. We assess your current cover, identify any gaps, and recommend solutions that are appropriate for your circumstances and affordable for your budget.
Our insurance advice covers:
- Life insurance — providing a lump sum to your family if you pass away, helping them pay off debts, cover living expenses, and maintain their lifestyle
- Total and Permanent Disability (TPD) insurance — a lump sum payment if you become permanently disabled and can no longer work
- Income protection insurance — replacing a portion of your income if you are unable to work due to illness or injury
- Trauma / critical illness insurance — a lump sum payment on diagnosis of a specified serious illness
- Insurance inside super vs outside super — understanding the trade-offs and structuring your cover tax-effectively
- Insurance review — assessing your existing cover to ensure it is still adequate, competitive, and not duplicated across old super funds
Why Great Advice
Many Australians are either underinsured or paying for cover they do not need. We take the time to understand your situation — your debts, your dependants, your income, and your existing cover — before making any recommendations.
As an independent practice, we are not tied to any insurer. We recommend products based on what is right for you, not what pays us the highest commission.
Frequently Asked Questions
Do I already have insurance through my super fund?
Most Australians have some level of default life and TPD insurance through their super fund. However, the default cover is often insufficient for your actual needs. We review your existing cover and advise whether you need to increase, decrease, or restructure it.
Is it better to hold insurance inside or outside super?
Holding insurance inside super means premiums are paid from your super balance rather than your take-home pay, which can improve cash flow. However, there are trade-offs — including potential impacts on your super balance and differences in policy terms. We help you weigh up the pros and cons for your situation.
How much life insurance do I need?
This depends on your debts, your dependants’ living expenses, your existing assets, and how long your family would need financial support. We use a needs-analysis approach to calculate an appropriate level of cover rather than relying on rules of thumb.
What happens to my insurance when I retire?
Most insurance inside super ceases when you close your super account or move to pension phase. If you still need cover in retirement, we can help you plan for this transition so you are not left unprotected.
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At Great Advice, it’s not all about giving you offers and products but presenting you meaningful suggestions that may impact your chances of achieving the outcomes important to you. That is Great Advice!
