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Who Uses Care4Wealth

We totally understand that wealth protection isn’t for everyone. And rather than make you feel like were ‘hammering on’ about the need for every single person out there to have it (which we know isn’t realistic) …we want you to select yourself. So here’s something to help you along the way.

Who Is This For?

Self-Employed People

Running your own business can feel like you’re the captain of your own ship. It’s a liberating feeling to be in control of your destiny and also potentially very rewarding when times are good. However, as a business owner, there are far greater risks to your income and there’s a good chance your enterprise would fold up quicker than a two-dollar tent if anything (even minor) happened to you.

So what’s the solution?

Income protection insurance is the very least amount of cover business owners should carry. This protects you financially if you’re unable to work because of illness or injury. It’s certainly worth thinking about if you run your own show because bills don’t stop coming just because you’re unable to work. Business Expenses Insurance can also cover the ongoing costs of running a business if you are unable to work due to illness or injury. It is designed to make sure there’s still a business to come back to when you’re back on your feet.

In higher risk occupations such as farming, the death or disablement of key persons can mean the loss of the home, farm and any future income. This is where the existence of adequate life insurance allows planning to be put into place for continuity of that business, without jeopardising the health of the existing operation.

If you need advice, help is just a phone call away on 1300 822 902.

Professional People

If you’re a doctor, dentist, accountant, engineer, manager, tradesperson or basically anyone whose professional skills are the backbone of their earning power… (this includes most wage earners)…

There’s a good chance that right now, you make a relatively good income and your family enjoys a decent enough lifestyle. But what if that all changed?

In the blink of an eye, your family could find that comfortable lifestyle ripped away if you’d never thought to invest a small portion towards protecting your assets, as well as protecting current and future income.

If you’re currently employed and you’re either not insured or you haven’t reviewed your cover recently, you should speak immediately to an adviser from Care4Wealthby calling 1300 822 902 …the best part is, certain life insurances are fully tax deductable, making it even more affordable.

Business Owners

Without a doubt… one of the least thought about areas when it comes to business insurance is “what happens when a key person in the business dies or is incapacitated”?

You need to ask yourself… do you want your business to die along with you? What would this mean for the people who rely on it? Family, workers, partners, etc?

 Table Chance of Disablement for Business Owners
Figure 1: The chances of a business partner dying or becoming totally disabled1

Should anything happen to you as the owner of a business, there are basically three things that can happen:

  1. You recover and return to work but the business may be affected in the interim
  2. You retain the business for your family who take over the management
  3. You sell your interest to your partners, key employees or a third party

However, it must be noted that you are very likely to be the most important person in your business. This being the case, you will have to be replaced for the business to keep functioning at its same capacity. This can take time and as we all know… time is money!

There are 3 types of business protection needs to be considered on the death or disablement of a business owner or key person:

  1. Asset protection ensures the business is able to repay debts and extinguish personal guarantees
  2. Revenue Protection ensure that the business continues to operate despite a loss of income or reduction in capital value
  3. Ownership Protection ensures the guaranteed, orderly and equitable transfer of ownership of the deceased or disabled owner’s interest in the business at an agreed price

Another critically important factor to remember is that the death of a borrower will in most cases will automatically trigger a default on any lending agreement… allowing the bank to call in the loan or ask for a renegotiation at any time of their choosing. This can be very bad news for family members and who are not only left without income, but also are forced to deal with an outstanding business debt.

Think of the possible ramifications of this scenario upon your family and business partners. What would happen? Who would they turn to for help? These questions need answers sooner rather than later.


As a family you have a natural instinct to care for, nurture and protect those you are now responsible for. It isn’t just about you anymore it is about your responsibilities and knowing that your family is secure in your care. You are thinking about the things you are currently providing but, more importantly, you are already planning for the future such as education for your children, a safe and comfortable home and family holidays.

As with all life stages, you like to think that you will always be there for your family, and be able to work and provide a steady income. There is nothing stronger or more compelling than the natural instinct of a parent wanting to ‎protect their family.

It’s worth considering what would happen if an extended illness or injury or premature death stopped your ability to work and provide an income. This could have a devastating impact on your family’s financial security and long-term lifestyle choices. Imagine losing your health or your loved one and at the same time losing the family home.

No one plans to get sick, injured or to die unexpectedly and we all have a tendency to think that it won’t happen to us. This “she’ll be right” attitude while admirable as an Australian trait is also one of our greatest risks.  Recent research done by the ‘Investment and Financial Services Association’ found that 95 per cent of Australian families do not have adequate life insurance. Are you one of the 5 per cent that isn’t gambling with your families’ future?

The first step in addressing your family’s financial security is to become aware of the risks you and your family are exposed to. The second is establishing a Risk Management Plan to ensure all contingencies are covered in the event of the death or disablement of a key family member.   This plan is unique to your own financial position and should provide solutions to protect your family’s personal and/or business (or both) interests and be designed in the most tax effective way.

It is so important to consider your life insurance needs while you are relatively young and healthy, before you have any health scares and while there are still a range of options available to you. There are also considerable savings to be made by structuring your cover now as costs and risks increase with age.  

As a specialist in wealth protection Care4Wealth is able to help you understand the risks you and your family face, allow you to make informed decisions about how best to cover those risks and provide affordable solutions to your needs.    

If you want to be part of the 5 per cent of families that have adequate protection designed by a wealth protection specialist then call us now on 1300 822 902.   

People Who Have Self-Managed Super Funds

If you are the trustee (owner) of a DIY self-managed super fund, you are eligible to have certain premiums payed directly from the balance of your super account. There are several advantages of holding insurance within your SMSF, including tax effectiveness and estate planning, providing it is structured correctly.

New government reforms in place from August 2012 require SMSF trustees to consider the insurance needs of members. They must decide after appropriate investigation whether or not the fund should hold “a contract of insurance that provides insurance cover for one or more members of the fund”. Intentional or reckless breach of these regulations attracts significant penalties.

If you want to know more about these reforms and how they affect your SMSF and the best way to structure insurance through your SMSF, simply contact Care4Wealth on 1300 822 902


1.Zurich Mortality and Morbidity Calculator 2004.