Welcome to the Taurus November newsletter

Breaking News – I have recently been appointed to launch a new Wellness and Rewards programme AIA Vitality to our clients.

Our ex South African clients will be familiar with the Discovery programme in South Africa.  Discovery South Africa and AIA Australia have entered into a joint venture which will provide the opportunity for our existing AIA Insurance Clients and all new Risk Insurance Clients to obtain substantial discounts on their Risk Insurance premiums in the future while improving their Health and Lifestyle and being rewarded with a generous Rewards Programme.  This will assist in reducing and containing our client’s future Risk Insurance premiums.  More information to follow.

If you would like to join the AIA Vitality Programme, please email me on gordon@taurusfinancial.com.au and I will contract you directly with more information.

I recently attended a risk symposium and some very interesting and important information was discussed which I would like to share with you.

Historically we have determined that the stage in life when you most required Risk Insurance is for the period when you are raising your children and paying off your mortgage (age 30 – 60 years), with some clients decreasing or cancelling their cover from 60 onwards hopefully as they have sufficient assets to protect their remaining life span.

I was shocked to learn that in the last 12 months 12, 500 Australian couples nearing or in the early stages of retirement (55 – 70 years) were called upon by either their children or their grandchildren for financial support due to ill health of a child/grandchild or the death of a child leaving the grandparents to bring up and provide for the grandchildren.

This cost is never factored into ones retirement plans and it can cost up to $1million to raise and educate a child.

Should you find yourself in these circumstances this could seriously impact on your retirement plans and finances.

There is a simple and affordable solution to protect yourself and family, by encouraging your children to take out Risk Insurance Cover themselves, to protect themselves and their children in the event of them finding themselves in these difficult circumstances.

As a number of our client’s children are currently aged on average between 18 and 35 years the cost of this cover should be affordable for them to pay themselves.

However if this is not the case here is an ideal opportunity to provide a valuable and responsible Christmas Gift where in you as the parent undertake to pay the first years premium, or the premiums for a longer period if you can afford this cost.

Example:

Assume you have a child aged 30years and a grandchild aged 3years.

We can ensure your child with Life Cover ($500,000), Disability Cover ($500,000) and Trauma Cover ($100,000), at a cost of ±$75.00 pm, and your Grandchild with Trauma Cover of $50,000 at a cost of ±$15.00 pm.

For this small monthly cost you can take the risk off the table for your children and/or grandchildren and protect yourself from having to find a substantial sum of money that you have not provided for to take care of your extended family.

If you would like me to tailor a quote for you in respect of your particular children as a Christmas Gift of responsibility please call me on (02) 9411-4161 to discuss your particular family’s requirements.

Given the high incidence of Skin cancer in Australia we have also included an article on melanoma. Why? Well skin cancer is covered under most trauma insurance policies which should be a must have for every working Australian.

For those of you who still have Retirement Annuity Policies in South Africa, a reminder that you can now cash them in and remit the funds to Australia before you reach the preservation age as long as you are a permanent resident of Australia.  With the South African Rand continuing to devalue and this month reaching an all time low against Sterling I am of the view that the sooner you cash in these policies the better.  See our article Encashment of Retirement Annuity Policies.

Interest rates are now at record lows and the property market across all Australia is enjoying some real growth. We have a short article on considering your home loan options considering these current market factors.

Look forward to hearing and being of service to you.

Regards

Gordon Hatch

Telephone – (02) 9411-4161

Email:  gordon@taurusfinancial.com.au