Like most firms we have a mix of sole traders, companies, partnerships and individuals we prepare tax returns for. One area of serious concern when preparing tax returns is the amount of self-employed clients that don’t hold adequate income protection insurance.
Income protection insurance, along with a number of other forms of personal insurance, is tax deductible.
Do you know just how much of a difference death, income and trauma insurance could make in the case of an unforseen event?
It can be a challenge to understand the need for the right insurance protection, whether it involves enhancing existing cover or taking on an additional type of cover.
Steps to Protect Yourself
The types of events that insurance covers are often unforeseeable and the statistics speak for themselves. When talking with us at your next review feel free to ask our office for help in this important area of your finances. We have access to a number of insurers and recognise which policies are most tax effective and protect you in a cost effective manner.
Those with existing trauma or income insurance policies should do a review so that if you ever need to claim you have access to the best available treatment and to allow you the time off you need to recover.
Doing a cost benefit analysis of what each insurance policy could mean and what value they would provide if you ever need them might be the best 30 minutes we spend together this year.
Contact Financial Planning
To book a no obligation appointment with our financial planner please call (03) 6344 3899 or send us a message online.
General Advice Warning
The information on this website is general information only and is not intended to be a recommendation. We strongly recommend you seek advice from your financial adviser as to whether this information is appropriate to your needs, financial situation and investment objectives.
Whilst every care has been taken in the preparation of this website, BND Financial Pty Ltd (‘BND Financial Services’), its directors, authors, consultants, editors and any persons involved in the construction of this website, expressly disclaim all and any form of liability to any person in respect of this website and any consequences arising from its use by any person in reliance upon the whole or any part of this website.