Life, Trauma, TDP, Income Protection Insurance Frequently Asked Questions & Answers
Below are some of the more common questions we are asked.
Q: Why Deal with Anne Davidson (A.L. & Associates Pty Ltd ~~
Insurance Acumen Australia ) / The Corporate Will Company?
A: Being an Insurance Broker, research is done on your behalf to find the better
insurance product for your individual requirements, taking your personal details
into consideration. We are not tied to any one Insurance Provider.
Q: Can I Consult directly with you?
A: Yes. You can email Anne personally, on
info@lifeinsuranceaust.com.au
and contact will be made with you, according to your requests or
instructions within the email message.
Alternatively, telephone direct on 1300 766 467.
Q: If I complete a
request for quotation form,
am I then signed up for anything?
A: Absolutely Not. An insurance quote form is just a request for price information.
Q: What is the process of getting life insurance, trauma insurance, income protection insurance or total & permananent disability insurance cover if I accept the
quote given?
A: In summary, the process will be as outlined below:
· Request Insurance Quote
· Quote replied and accepted by you
· An application form (a proposal), and relevant documentation,
will be forward to you. Some will be for your information and some
will be for completion, signature, and returned for assessment
· The Underwriter of the Insurance company will assess your
application
· The details of that assessment will be conveyed to you
· There may be other information, medical or financial questions,
the Underwriter may need to further the assessment. If so, this
will be duly coordinated with yourself. It cannot happen without
you!!!
· Once the assessment is completed, you will be advised if
there is a conditional proposal.
· You will be asked to sign the conditional proposal
· Upon your signature and acceptance, the Insurance will
then be Underwritten and you will be covered accordingly.
· You will receive verbal advice from your adviser (Me)
· You will receive the original policy document mailed to
you from the relevant Insurance Co.
Q: Can I cancel the policy?
A: Yes, at any time. You can either write, email, or ring your
adviser (Me). Or you can either write, email or ring the relevant
Insurance Company direct.
Q: Is there a cash value to any of the insurance policies ?
A: No. They are insurance policies only, with no investment components.
Q: How do I pay for the insurance cover?
A: There are normally three choices: by personal cheque or money
order, by direct debit from your bank account, or by authority to
debit your credit card. You can normally pay monthly or annually.
There is sometimes a discount if you choose to pay annually.
Q: What Companies do you deal with?
A: As an Insurance Broker, we are unrestricted as to which Insurance Company
we deal with.
Q: Do I have to be an Australian resident?
A: Yes. You need Australian permanent residency.
Q: Do the insurance policies cover me outside of Australia?
A: Normally Yes. There may be restrictions if you
are traveling into war torn countries.
Q: Are there any medical requirements?
A: This will depend upon several factors.
a) When high sums insured are requested, different companies have
differing levels. Tests for blood pressure, cholesterol, HIV and
various other tests may be required
b) Usually these tests can be performed by a Mobile Medical Team
which is organized in liaison with yourself, and can be conducted
at your home, or office, usually seven days per week. This service
and the test results are paid for by the relevant Insurance Company.
c) Factors such as age, smoker or non smoker, current health issues,
past medical problems or other similar issues, can require medical
testing.
d) A full medical examination by a specialist doctor is normally
only required in the event of very large sums insured ie. $5M +
e) Underwriters may request a medical report from your family doctor.
Q: Are all policies tax deductions?
A: No. Generally the following applies:
· Income Protection insurance policy premiums are tax deductible
· Trauma Insurance / Diagnosis Insurance cover is not tax deductible
· Life Insurance owned by anyone other than a Superannuation fund
is not tax deductible
· Life Insurance owned by a Superannuation Fund is tax deductible
· TPD Insurance owned by anyone other than a Superannuation fund is
not tax deductible
· TPD Insurance owned by a Superannuation Fund is tax deductible
Q: What costs are incurred by me when getting a quote or applying
for insurance?
A: There is no cost for obtaining a quotation.
There is no cost to you when applying for Insurance or when the
Insurance is underwritten.
Q: Who pays you?
A: The respective insurance company pays a commission to the Broker.
The commissions
paid are pretty much the same from one Insurance provider to the
next. All commissions
paid are fully disclosed to you by the Adviser (Me).
Further Inquiries
We welcome inquiries on our Life Insurance, Trauma Insurance, TPD Insurance & Income Protection Insurance products
and insurance broker services. Please feel free to send us an
email,
call us on 1300 766 467,
use our contact us page to send us an online inquiry
or submit a
life insurance quote,
income protection insurance quote,
trauma insurance quote or
tpd insurance quote form.
We will contact you within 24 hours to answer your inquiry.
DISCLAIMER
This web site does not provide financial or investment advice. The information
herein is general material and does not take into account your personal and
particular insurance, personal, or investment data or objectives or relevant
needs. If we can assist with specific advice please contact us.
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