Advisor Needs Analysis – Personal Insurances after 1 July 2024

Advisor Needs Analysis - Personal Insurances after 1 July 2024

Step 1 of 8 - Before you begin

Advisor Name:*
Which advisor is submitting this form?
Advisor Email Address:
Enter Email Confirm Email
Advisor Mobile:*
Consent*
I have consent from the client to submit this information to Find Insurance.
What is the Client's Date of Birth?*
DD slash MM slash YYYY
Your age is:*
Sorry, we can't provide you insurance estimates given you are over the age of 65.
Great News.
As you are under the age of 65 we may be able to help you with your insurance needs. Move on to the NEXT Step.
Age entered is not valid.

NEEDS ANALYSIS SUMMARY - VIEW ONLY

Based on your responses, you should have the following amounts of personal insurances in place.
Life Insurance
Debt Amount owing (Life, TPD, Trauma):
Funeral Costs (Life):
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Child 1 (Above 5 below 18)
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Child 2 (Above 5 below 18)
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Child 3 (Above 5 below 18)
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Child 4 (Above 5 below 18)
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Child 5 (Above 5 below 18)
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Child 6 (Above 5 below 18)
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Child 7 (Above 5 below 18)
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Child 8 (Above 5 below 18)
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Child 9 (Above 5 below 18)
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Child 10 (Above 5 below 18)
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Children below 5
Children's Education (Life, TPD, Trauma):
Replacement Income for Spouse/Partner:
Additional funds for others (Life):
TPD Insurance
Debt Amount owing (Life, TPD, Trauma):
Amount for Medical Costs (TPD, Trauma):
Children's Education (Life, TPD, Trauma):
Costs for Modifications (TPD):
Income Replacement (assuming you will have no IP in place):
Income Replacement (assuming IP will be in place):
Tax (TPD in Super)
If you hold TPD in Super it will be taxed before you receive the lump sum amount. The tax payable is approximately 22.5%. Assuming you take out a Super-linked TPD policy, then approximately 90% of TPD will be held in super for which tax maybe payable.
Trauma Insurance
Debt Amount owing (Life, TPD, Trauma):
Amount for Medical Costs (TPD, Trauma):
Children's Education (Life, TPD, Trauma):
Additional funds for you and/or your family (Trauma):
Trauma Cover (Child)
Child Trauma Cover
Income Protection Insurance
Monthly Benefit Amount:
Business Insurance Cover
Monthly Benefit Amount:
SUMMARY TOTAL - How much you should consider having in place.
Total Life
Total TPD
Total Trauma
Total Income Protection
Total Business Cover Expense
Total Child Trauma
We believe all parents should consider Child Trauma Cover for all children aged 2 and above. The default amount displayed would be applicable to all your children. An estimate of pricing is $200 per year for $200,000 of cover for each child.
Calculations are not complete, and recommendations about the levels of cover are not made at this stage. This is the first stage of the process where we help and guide you to make an informed decision regarding your personal insurance needs that will be appropriate for your needs, objectives and circumstances.

Insurances
Select the insurances you would like to request estimates for:
- Life Insurance
- Total Personal Disability Insurance
- Trauma Insurance
- Income Protection Insurance
- Business Expense Cover
- Child Trauma Cover
Reminder : How much insurance you should have in place based on your current Needs Analysis.
Total Life Benefit Amount
Total TPD Benefit Amount
Total Trauma Benefit Amount
Total IP Monthly Benefit Amount
Total Business Cover Expense
Child Trauma Cover
You now need to decide how much personal Insurance you wish to receive for which we will provide a report with estimates of premiums:
Requested Life Amount*
Requested TPD Amount*
Requested Trauma Amount*
Requested IP Monthly Amount*
The monthly benefit amount is calculated as 70% of the annual salary and then dividing by 12.
Requested Business Cover Monthly Amount
Requested Child Trauma Cover Amount
Please enter a number from 10000 to 200000.
It will be assumed that the amount you specify here will be applicable to every child you have over the age of 2 and under the age of 18.
Affordability: How will you fund premiums? Is there a limit as to how much you wish to allocate towards premiums?
Discuss affordability including options to fund premiums from cashflow and superannuation, and any limits to how much they client is willing to allocate for premiums.
If you decided to take up less cover then 'our ideal' amount, please explain why you decided on this amount? For instance, what are you wishing to cover and what are you willing to not cover?
If you chose to not take up certain insurances or wanted an estimatee for a reduced amount than what was calculated, how do you anticipate to cover the shortfall in cover?
You do not own a business therefor you cannot apply for Business Expenses Cover.
Whilst you run your own business you have stated you do not wish to apply for Business Expense Cover. If you now wish to apply for Business Insurance please click on the PREVIOUS button and change your selections relating to Business Expense Cover

UNDERSTANDING HOW YOU WOULD LIKE TO PAY
Life Cover
Benefit Amount
What is your preferred method of paying for premiums?
TPD Cover
Benefit Amount
Explaining TPD Definitions and your preference:
What is your preferred method of paying for premiums?
Trauma Cover
Trauma Benefit Amount
What is your preferred method of paying for premiums?
Trauma cover can only be paid from Cash Flow
Child Trauma Cover
Child Trauma Benefit Amount
Income Protection Cover
Auto-calc 70% max Monthly Benefit?
- Yes
Monthly Benefit
Self-employed: average over last 2 years PAYG: Last 12 months
Explaining Benefit Periods and your preference:
Explaining Waiting Periods and your preference:
There is now Short Term Cover and Long Term Cover. Short Term cover is 1, 2, 5 years based on Own Occupation definition. Up to age 65, the occupation rating will change to 'any' occupation that is reasonable in your industry.
If your preference for a waiting period is greater than 30 days, how would you cover the days until the waiting period was over and you started receiving payments?

Sick Leave and/or annual leave

Savings in bank

Redraw loan of money in offset facility

Sell an asset

Income would continue e.g. rental, dividends, etc
If you are under age 40, and your preference for a benefit period is 5 years or less, and you become long term ill e.g. longer than 5 years, how will you cover the additional period after the 5 years once the IP Benefit ceases?
How would you prefer to pay your IP Premiums?

Current Super Fund and Insurance Policy Details

If you have any current policies in place ASIC requires us to provide you with a comparison between your current insurances and any new insurances you wish to obtain.
In order for us to be able to do this we require a copy of your latest insurance policies. If your insurances are held with in super then we will require a copy of your latest super fund statement. Please provide us the below details so we can send you a TPA to sign.
Insurance & Superannuation Details
Please provide us with the following (where relevant): 1. Your Super fund name 2. Super Fund account number 3. Insurance company names 4. Insurance policy numbers

Disclosures
Have you ever had an application for insurance on your life declined, deferred or accepted with a higher than normal premium, or with restrictions or exclusions?*
Yes
No
Have you within the last 5 years had any illness, injury, operation, X-ray, ECG, blood transfusion, any other special tests or advised to have a blood test for any reason?*
Yes
No
Do you take or have you taken drugs or medications on a regular or ongoing basis?*
Yes
No
Do you have any pre-existing conditions that you are aware of?*
Yes
No
Any future health challenges we need to be aware of?*
Yes
No
Have any of your parents, brothers or sisters (alive or deceased) prior to age 60 been diagnosed with any of the following?*
No
• Diabetes
• Heart Disease
• Mental Illness
• Haemophilia
• Cancer
• High Cholesterol
• High blood pressure
• Stroke
• Kidney Disease
If you have answered "YES" to any of the above please provide further information:
Hazardous Activities
Do you participate or intend to participate in any hazardous activities?

No

Parachuting

Scuba Diving

Football

Body contact sports

Motor Racing

SCOPE OF ADVICE
FULL REVIEW: Do you require a comprehensive analysis of your financial planning needs at this point in time?

Yes

No
SPECIFIC REVIEW ONLY: You would like us to investigate/review your need(s) in the following areas only:
Only tick those areas for which you have nominated a review and where a full review has not been selected.
Personal Insurances
Superannuation
Investments (outside of super)
Retirement Planning
Estate Planning
Cash Flow Management
Age Care
Areas you DO NOT want advice in:
Personal Insurances
Superannuation
Investments (outside of super)
Retirement Planning
Estate Planning
Cash flow Management
Aged Care
Has your situation significantly changed since you had your last review or in the past 12 months?

Yes

No
If yes, what has significantly changed?
If yes, do you wish us to provide you advice in this area? If not, why not?
NEXT STEP

1. Press the SUBMIT button.

2. Once we receive your submission we will email you the indicative estimate of what it will cost to obtain the insurance cover from our approved insurers.

3. We will provide you with our Calendar Link so that you book a call back to discuss the insurance report we provide to you.

4. When happy to proceed, simply let us know what you have decided to do.

5. When we receive acceptance that you wish to proceed we will then email you the following: a) Application and b) Statement of Advice (SoA).

6. Sign the Application and SoA and return this to us.

7. Application will be forwarded on to the insurer who will assess your application to determine if you are able to be covered.

8. When Unconditional Approval is provided and the first years premium has been paid, you will then receive your new Policy Schedule from the insurer.

9. Each year Find Insurance will send you an email notification regarding Insurance Policies, a Catch Up Report comparing your current insurances to see if they are still relevant to your needs and to provide you with an opportunity to review your insurance needs.

At claim time, Find Insurance will be there to help you with your claim submission and help you if an issue arises.
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DISCLAIMER:

This tool is intended to provide broad guidance on the level of insurance cover required to meet debt obligations and replace a portion of income in the event of death, TPD (total and permanent disablement), trauma or temporary disablement. The calculated cover is not a recommendation and is not intended to be an exact figure. It does not take all of your needs into account and does not constitute financial advice. Separate advice should be sought regarding the need for any other insurance such as Private Health Insurance and/or General Insurance. All figures are gross of tax. No allowance is made for your particular tax circumstances or for the taxation of insurance benefits, either inside or outside superannuation. Generally, Death, TPD and trauma insurance benefits will be taxed at a lower rate than the income they are replacing. Please seek separate tax advice in relation to insurance benefits. No allowance has been made for any social security benefits to which you may be or become entitled. No assessment is carried out as to the availability of cover. Cover may not be available to some customers either for health reasons or due to their occupation. You should consider obtaining advice from a licensed financial adviser before making any decision. You should reassess your insurance needs regularly as your circumstances may change. Also, while the assumptions underlying this calculator are considered reasonable at the present time, these assumptions may be reviewed in future.
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STEP 1: LEARN

Life Insurance

Total & Permanent Disability

Trauma Cover

Income Protection

Stepped Vs Level

Super vs Non-Super

How To Pay Premiums

STEP 2: BOOK AN APPOINTMENT

STEP 3: Understand your needs

Advisor Needs Analysis – Personal Insurances after 1 July 2024