what is indexation?

What is Indexation in insurance?

Indexation is a complex-sounding term that is used to describe a relatively simple concept in the world of insurance. Here we’ll break down exactly how it can benefit you.

In a nutshell, indexation refers to a benefit payment that increases in proportion to the cost of living.

If the cost of living increases by 5% in a given year, an indexed insurance benefit will also increase by 5% so that you, or the listed beneficiary, – don’t lose out on purchasing power when the cost of living increases. Inflation Protection automatically increases your Life Insurance cover amount by 5% every year, or by the Consumer Price Index -whichever is greater.

Are you paying too much for Health Insurance?

Is your Health Insurance not giving you enough?

Plenty of Australians (just shy of 50%) have private health insurance hospital cover, while more than 55% have extras cover. Each year the federal government approves health insurance premium prices rises fund by fund and this is becoming more and more common as claims go through.

The overall increase on April 1 this year was 3.95% – the lowest in 17 years, but a substantial increase nonetheless. For the consumer, it’s worth keeping in mind that an average figure masks a wide range of individual changes. This makes it more important to review your position each year and ensure you are getting value for money.

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Working together to combat burnout

Are you finding that feeling burnout is now becoming part of your work schedule? If both your first and last task of the day is to check your emails, you’re not alone. Contemporary work culture, spurred on by advances in technology, has meant that we are expected to always be “on”. Gone are the days of the 9-5. Many of us work at all hours, possibly even holding down side gigs, and that’s before we take into account the labour we perform in other areas of our lives with emails on our phones, clients having your personal number and going above and beyond at the cost of your own health. 

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What is the difference between health and life insurance?

Both health and life insurance can seem complicated. We look at the differences  in benefits and the value of having the protection of both. 

What is health insurance?

Health Insurance is a personal insurance that helps cover the costs of medical and surgical care. The right health insurance product can protect you against a range of medical costs and surgical expenses. This might include emergency requirements – like stays in private hospitals, ambulance services and time spent in intensive care – or more everyday health expenses, like optical, dental or chiropractor appointments.

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What the Federal budget means for you

With a federal election approaching us shortly, the 2019/2020 Federal Budget aims to deliver tax cuts to low and middle income workers and small businesses, superannuation tweaks for older Australians, and energy assistance payments.

Keep in mind that a number of the below policies depend on the Coalition government winning re-election in May – although Labor has announced bipartisan support for some of the listed me policy recommendations.

But here’s what this year’s Federal Budget essentially means for you and your family.

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5 steps to make income tax easier

The EOFY period isn’t really a time most people relish, but it does offer an excellent opportunity to review your income and finances to possibly free up funds for more important and enjoyable pursuits through any credits or tax savings.

Below we’ll show you, in 5 easy steps, how to streamline the income tax return process and possibly free up funds for the more important things in this great Australian life.

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