In this Australian Finance Podcast episode, your host Gemma Mitchell is joined by Phil Thompson from Skye Wealth to answer your biggest insurance questions.
They cover:
- How insurance claims actually work from start to finish
- The difference between Any Occupation and Own Occupation cover
- Whether you can claim Income Protection and Trauma Insurance at the same time
- What exclusions, loadings and occupation ratings really mean – The truth about insurance commissions
- Whether younger Australians should consider cover before automatic super enrolment
- Why group insurance isn’t always cheaper than retail cover
- The $1.4 million insurance dispute that highlights the importance of disclosure
Topics Covered
- What happens when you make an insurance claim?
- Understanding the insurance claims process from start to finish
- Any Occupation vs Own Occupation TPD cover
- Can teachers and other professionals rely on Any Occupation cover?
- Income Protection and Trauma Insurance: Can you claim both?
- How insurance commissions work
- Should young Australians get cover before automatic super insurance starts?
- What is an insurance exclusion?
- What is a premium loading?
- Can exclusions and loadings be removed later?
- What is an occupation rating and why does it matter?
- Retail insurance vs group insurance through super
- Why cheaper insurance isn’t always better insurance
- The Skye Wealth insurance comparison example
- The $1.4 million insurance dispute and the importance of disclosure
- How much do you really need to tell your insurer?
