Sterling Insights

Is it worth paying Income Protection insurance?

March 30, 2024 Whether it’s worth paying for Income Protection insurance depends on your individual circumstances, risk tolerance, and financial situation. Here are some factors to consider: Income Stability: If you have steady income from employment or self-employment and would struggle to cover your expenses if you are unable to work due to illness or injury, Income Protection...

Should I own Income Protection insurance inside superannuation?

March 30, 2024 Whether you should own Income Protection insurance inside your superannuation (super) depends on various factors including your personal circumstances, financial situation, and objectives. Here are some points to consider: Cost-effectiveness: Income Protection insurance inside super can sometimes be more cost-effective compared to purchasing it outside super. This is because super funds often purchase insurance policies...

Difference Between Workcover and Income Protection

March 30, 2024 WorkCover and Income Protection are two distinct types of insurance policies that serve different purposes: 1. WorkCover (Workers’ Compensation): WorkCover, also known as workers’ compensation, is a mandatory form of insurance that provides financial assistance to employees who are injured or become ill as a result of their work. It is a statutory scheme regulated...

7 Tips for Choosing A Good Investment Portfolio Consultant

December 2, 2023 Many people struggle when it comes to making investment decisions. With so many different options and conflicting advice, it can be overwhelming to try and create a successful investment portfolio on your own. That’s where an investment portfolio consultant comes in – they can provide expert guidance and assistance to help you make informed decisions...

7 Benefits Of Working With A Financial Consultant For Retirement Planning?

November 1, 2023 Retirement planning can be a daunting task, especially if you’re not well-versed in financial matters. With so many options and considerations to take into account, it’s easy to feel overwhelmed and unsure about how best to plan for your retirement years. This is where a financial consultant can come in and provide invaluable help. A...

What You Should Know When Planning for Aged Care Needs?

October 2, 2023 When it comes to planning for aged care needs, there are a few key things that you should keep in mind. This process can often be overwhelming and emotional, but having the right information and support can make all the difference. Understanding Aged Care Options The first thing to know is that there are various...

What is a Buy-Sell Agreement

July 26, 2023 A Buy-Sell Agreement, also known as a Buyout Agreement or Business Continuation Agreement, is a legally binding contract commonly used in businesses with multiple owners or shareholders. The purpose of a Buy-Sell Agreement is to provide a framework for what happens to a business owner’s interest in the company if certain triggering events occur, such...

Does your super fund need a COVID-19 health check?

August 30, 2020 Through my recent research I have found that at least nine underlying group insurance policies within common superannuation funds have exclusions on their insurance benefits for pandemic illness events i.e. COVID-19. This basically means – the insurance company will not pay you (or your family) a claim benefit if you directly or indirectly contract COVID...

Pay down the mortgage vs invest into markets?

August 28, 2020 A very common question we get asked as financial planners – should I pay off my mortgage as quickly as possible? Or should I be focusing on building assets such as superannuation or an investment portfolio. Unfortunately there is no silver bullet or hard and fast rule on the best strategy here. Many experts will...

Rebuilding Retirement after Early Access – it doesn’t have to be short term gain for long term pain…

August 28, 2020 Superannuation is for retirement This concept is not new or nor foreign. Under exception circumstances the Federal Government has allowed early access for up to $10,000 before 30 June 2020 and up to $10,000 within the initial 3 months of the 2020-2021 financial year (1 July 2020 – 30 September 2020) for those who face...