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  • Profile photo of s0805s0805
    Participant
    @s0805
    Join Date: 2006
    Post Count: 85
    January 30, 2013 - 12:47 am

    Hi there,

    I am not sure if this is the correct forum to ask this question.

    Recently bought the 1st IP, looking to insure myself against any unknown in future. I am married, no kids and looking to start a family in 2 yrs. IP is in my name (main income). I can think of Income Protection, life insurance, any other insurance!!!!! some suggestion would be helpful. 

    I’ve tried contacting some financial advisers was surprised with the amount of fees they charge. May be some one in this forum is in similar situation any suggestion/feedback on insurance policies they have will b helpful. I am happy to all the leg work for selecting the insurance policy, not sure at this stage with 1 IP, it is worth getting financial advised involved OR should I?

    Thoughts please…..

    Thanks

    S0805

    Profile photo of ducksterduckster
    Participant
    @duckster
    Join Date: 2004
    Post Count: 1,674
    February 27, 2013 - 11:12 pm

    The reason your post has not been answered is that giving you suggestions would be deemed financial advice. Under the ASIC laws only a licensed financial adviser can give you advice.

    Read the following links to improve your knowledge of different forms of insurance that is available so you can ask your chosen financial adviser if you require a particular insurance for your particular financial needs. These links are not a recommendation of a particular insurance company or financial adviser for you to use.

    http://www.ratedetective.com.au/insurance/personal-insurance-most-popular-types-australia.htm

    https://www.moneysmart.gov.au/managing-my-money/insurance/home-and-contents-insurance

    http://www.yourmortgage.com.au/article/how-much-insurance-do-you-really-need-81393.aspx

    The links above are examples of  what various financial advisers believe are different types of insurance available but are NOT SPECIFIC ADVICE on what insurance or which insurer you may need for your specific financial circumstances.

    As I am not aware of your personal financial circumstances or hold a financial adviser license I cannot provide you with specific financial advice on what you may need to meet your personal financial situation.

    If you do decide to use an insurance agent or financial planner make sure they are licensed to give financial advice.

    Profile photo of s0805s0805
    Participant
    @s0805
    Join Date: 2006
    Post Count: 85
    February 28, 2013 - 12:04 am

    Hi Duckster,

    thanks for your response. It wasn't my intention to get financial advise via this forum, but i can see how it could have sounded like I was seeking financial advise, my apologies for that.

    Also, thanks for the links provided, hopefully that will guide me to understand what sort of insurance policies are out there.

    thanks again, apologies for any confusion i've caused

    S0805

Viewing 3 posts - 1 through 3 (of 3 total)

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