Contact Us
BOOK A MEETING
Frequently Asked Questions
General vs Personal Advice: What's the Difference?
General advice provides broad guidance applicable to many people. It explains insurance concepts and general best practices without considering your specific circumstances. We offer general advice to keep our services fee-free. You only pay for your insurance policy, without additional charges. Personal advice, however, offers tailored recommendations based on your unique situation. It involves in-depth consultations with an advisor to understand your specific needs and goals. Due to its personalized nature, personal advice typically comes with a fee.
Are Life Insurance Claims Really Paid Out?
While no one hopes to rely on an insurance payout, it's reassuring to know that claims are generally honored. In 2022, insurers approved 92% of all claims. Here's a breakdown by insurance type: Life Insurance: 98.0% Income Protection: 95.2% Total and Permanent Disability: 86.8% Trauma/Critical Illness: 88.1% Moreover, policies arranged through insurance specialists have up to 23% higher payout rates compared to direct purchases. This data comes from APRA, an Australian government regulatory body.
Lorem ipsum dolor sit amet, consectetur adipisicing elit. Autem dolore, alias, numquam enim ab voluptate id quam harum ducimus cupiditate similique quisquam et deserunt, recusandae.
Are Insurance Policies Tax Deductible?
Income Protection Insurance premiums are tax-deductible when paid from after-tax income. For policies funded through superannuation (including Income Protection, Life, and Total and Permanent Disability Insurance), you receive a 15% tax offset. Life and Total and Permanent Disability Insurance premiums aren't tax-deductible when paid personally. Trauma/Critical Illness Insurance is not tax-deductible under any circumstances.
Lorem ipsum dolor sit amet, consectetur adipisicing elit. Autem dolore, alias, numquam enim ab voluptate id quam harum ducimus cupiditate similique quisquam et deserunt, recusandae.
Just so you know, HomeGuard Advisory (ABN 77 680 525 237) operates under Sustainable Life Solutions (AFSL 536966) and can only give general advice about personal insurance. That means we’ll tell you everything you need to know so you can make a good decision but can’t give you any specific advice or recommendations. It also means that everything on our website is only general information and isn’t specific to you.
Lastly, each insurer we work with has their own terms and conditions that apply to the insurances they offer, like eligibility criteria, exclusions and limitations. Have a look at the relevant insurer’s
Product Disclosure Statement and Target Market Determination to see if their insurance products meet your needs.