Insurance

General insurance is a term used to describe insurance that covers material objects rather than human life. Whether you need protection of personal assets (like your house and contents or your car) or if you run a business and need to protect yourself against business interruption, machinery breakdown or public liability, there is usually a general insurance policy that can help you. Your  financial planner can help you analyse your current general insurance to assess whether your assets are adequately covered.

Health Insurance

Health insurance is not a product designed to help fill the ‘gap’ - that is a new product initiative the government has brought out. Until recently there was often a gap between what you paid the doctor and what you could claim back from Medicare - one of the major  reasons why people weren’t joining private health insurance. The new ‘no gap’ product (you may have seen the HBA ad) is designed to ensure that there is no gap and therefore you don’t need to pay anything out of your pocket.

Private health insurance is designed to take the burden off the public health system. It allows you greater flexibility in your choice of doctors and hospitals, and can provide access to services not currently covered by Medicare. Cover is available in a variety of forms, but generally protection is offered for the cost of hospital care and a variety of extras (eg. physiotherapy and dental).

Your financial planner can help you assess whether private health insurance is right for you and can help you access an appropriate health fund.