Meerkcat compared

Meerkats compared. Simples?

Meerkcat compared

The meerkats advert (you know the one) that sings deep – very deep – into your brain is a beauty. I just love the cute meerkat and his loveable accent.

Compare the meerkat….it’s simples.

As the advert itself notes – they do provide a limited comparison of products that are available in the market place.

However, the truth of the matter is (as always) much less simple, and in fact much more complex. Just like  Life itself.

The reality is that insurance products are complex products. They are very specific contracts that offer certain specific benefits when specific events take place.

A headline isn’t good enough, the detail is where the action happens.

Should you compare online?

Absolutely! Online comparisons are a great starting point. They can provide some good information about some of the range and price of products.

Having visited an online shop, finish the comparison job and see a qualified, professional financial meerkat!

Financial Planner vs Meerkat

Because Financial Planners have a duty of care to their clients. They will consider just how well the product fits, and how suitable and appropriate it is for you and your family.

Like their animal world counterparts, good financial planners stand sentry to warn their clients  of approaching dangers.

When it comes to real life needs you may want to sing the meerkat song and then visit a real financial meerkat. It really is that simples!

 

manage your life

Human Beings – How do we manage every day lives?

manageyourlife-1Does it make any difference where we live?

Whether you live  in Australia or the USA some people do fine. Others not so well. And then there are those that stress.

Uncooperative children (you think came from another Planet)! Teenagers! In-Laws/Out-Laws, the family pet that escaped and all the fun things we take in our stride, have not been included in my definition of stress.

I thought the following captured some reality:

” When an event or situation – otherwise called a stressor – lasts for months or even years, chronic stress is the result. Caring for a loved one with cancer, being under financial pressure, or not having significant social contact with others can all lead to chronic psychological stress.”

But determining how much chronic stress impacts on your health is challenging, as every one of us responds differently to potentially stressful situations.

“Stress is when the demands of your environment exceed the coping resources that you believe that you have,” says Dr Mary-Frances O’Connor, psychologist and stress researcher at the University of Arizona. “So in all cases, there’s perception – perception of what the environment demands and perception of your own ability to cope with it.”

“Part of why stress research is difficult is that when you’re talking about human beings, there’s a subjective component,” says O’Connor. Even in bereavement, an area O’Connor has researched extensively, individuals have varied responses to the death of a loved one.

With no stressor able to be objectively classified as always stressful to all people, researchers must rely on personal accounts of feelings and experiences, and try to match them up with physical changes that occur.

Despite the challenges, clear patterns are emerging in how chronic stress affects our biology, and our health.

To read the entire article go to: http://www.abc.net.au/health/features/stories/2013/09/05/3841753.htm

Financial Planning is about putting the ‘fail safe’s’ in place for when ‘life happens’in your personal life or your buisness life.  Be you own personal guardian. Have your income protected to take the time off work for your self. Have your loved ones covered for Cancer, Heart Attcack, Stroke, to name a few of the things that happen in real life. This allows freedom with those extra funds. It makes available for quality care and extra medical and medication costs.

Finally, a Financial Planner, like me 🙂 is with you when there is the occurrence for support and comfort at time of Claim.  Safe Hands, Sound Advice.

 

Have you built a successful business

Have you built a successful business?

Protect your businessAndy started out as a Fitter and Turner. Clever and adept with high grades. He was hard working, diligent with a happy go lucky personality. He bought the Aussie Ute for style and chic magnet value. Great guy with loads of good friends.

He was a bit impetuous, loved life and a fun guy to be around too. He and Judy met and married.

The opportunity came along and Andy jumped into a Technical Highly Skilled Surgical Instrument business with Bret his best mate. The business literally took off! It was specialised and the guys built the business on their reputations.

Judy was happy with her new dream home and Andy was ready to start a family with Judy.

Disaster struck in the ensuing months. One of the major business suppliers closed down due to mismanagement.

Anxious and worried Andy set about finding new suppliers as he had learnt and not to rely on one sole supplier.

The lights went on! Andy started to think. What would happen to his business if his best mate Bret and business partner became ill or even worse died? Worse still if something happened to Andy. How would Judy cope?

The present value of the business is $7M. After having a genuine business valuer thoroughly value the business.

The debt to the bank is $3M with personal guarantees from Andy and Bret . Andy and Judy have a huge mortgage of $850,000 and Bret has several Harley Motor Bikes on personal loans plus a Maserati and investments totalling $800,000.

Andy and Bret run the business together and trust each other’s judgement. Judy has an Accountant that she sends the weekly figures to as she has no other interest in the business.

The business has no other employees except the cleaner and yard man that comes in once a week

A fire sale would be just that. The business would be sold to a predator for not much worth. The bank would take the new home and confiscate all of Bret’s toys to cover the bank exposure and clear the debt.

Sounds like a disaster waiting to happen…………

There is business protection for all self employed and businesses out there. It costs money. There are tax rebates on parts of the cover. Can you afford not to have a sound business protection plan?

 

keep an even keel

Keep your business on an even keel

keeping an even keel

Profit margins, business loans, demanding customers! Smooth sailing in a business is hard enough without adding the complications of injury, illness or even the death of a business partner or key person.

John had everything covered. That is what he thought. John and his mate had a successful printing business for 10 years. His mate was married in the same year and they were more than business partners. Their families grew up together. John and Helen took the boat up the river for skiing and Ben and Marie, their kids always went to the shack with them.

A few months ago Ben commented that we need to go over all the general insurances for the shop and the vehicles and the personal stuff and the house to see if we could consolidate all the insurances. It was a good idea because Marie was having trouble tracking it all. John agreed it was a good idea and made sense.

In the meantime Helen, who was always on the ball, said that we needed to up grade all of the personal insurance covers. John agreed. John had taken out his personal cover for his death, critical illness and total and permanent disability and income protection a few years ago. His Financial Adviser would contact him each year and John was too busy to make the  time for an appointment.

Helen insisted that John make the time and get everyone to meet with their financial adviser. John grumbled. Ben was not keen either. Helen and Marie got their heads together and organized the  appointment.

The Adviser explained that when they first took out the insurances for each individual that at the time was all very good. They all needed some extra cover as their debts and commitments were higher. Both families had upgraded their homes and lifestyles. The business was booming, now employing 3 full time expeienced staff and an apprentice. John being the sales man and Ben the techo behind the success.

What they did not understand was the implications of replacing themselves in the business……..who would do the sales job if John was unable too or what if Ben has an accident and we had no one to do his job. The apprentice was not ready to take on Ben’s role.

If Ben or John happened to have an accident or worse still die, who keeps the business going? Helen and Marie only share the administration a few hours a week. The kids are still at college, the mortgage, the living expenses and all the business overheads. What happens?

That’s why every business should include business insurance as a matter of course.

There are a number of key areas you should consider when implementing insurance into your business plan. And we can explain how to protect your business against events which may adversely affect its liquidity, profitability and ongoing viability.

A combination of  lump sum and income protection  can help your business survive all of these scenarios.