Changing circumstances

There's plenty to think about when you start a new job; finding somewhere to park, gaining access to the email system and figuring out the best place to buy your lunch to name just a few.

Making sure your super and insurance are up to date might be the last thing on your mind, but it's easier than you think to ensure these are set up as neatly as your new desk.

Insurance cover is often provided through employers, particularly if you work for a large organisation.

If you're starting a new job you should check insurance arrangements with your new employer as well as checking if you remain covered under insurance plans with your previous employer.

Some of the benefits of having insurance inside super include tax concessions and large plan cost savings.

You can also arrange to have your premiums deducted from your existing super balance; providing you with cover while freeing up your cash flow.

And, if you need more insurance than your employer has chosen, many funds allow you to upgrade your cover.

Another consideration is your salary. If it's increased with your new role, it might be time to assess your insurance.

Do you have Income Protection insurance? And if you do, do you have enough to protect the new lifestyle you're about to become accustomed to?

For more tips on making the most of your new situation speak to your financial adviser or call our insurance experts on
132 652.

When you set up your own business, you can be so busy working it's hard to find time to think of anything else.

But have you considered how you'd cope if you or another key staff member were unable to work because of sickness or injury?

Income Protection insurance gives you a monthly income protection payment of up to 75% of your earnings if you're unable to work due to sickness or injury.

And while you're out of action, Business Expenses Protection can cover the fixed, regular costs of your business so you have a business to return to when you're back on your feet.

For more information on MLC's full range of business insurance solutions, see our Business section.

Australians are renowned for their carefree lifestyle, but it can mean we sometimes neglect the important things in life.

One example is insurance; where the majority of Australian families don't have enough life cover.

In fact, a study¹ found the average payout received by families in the event of the death of a partner, was just $91,000 - a worrying finding given the average family with young children has debts totalling $167,000².

For Australian mums and dads this means, if something happened, there wouldn't be enough insurance for their own or their children's financial needs.

And it seems women are the least prepared, with only 50% of mums holding life cover compared with 62% of fathers³.

Income protection insurance can provide up to 75% of a salary if you're unable to work for more than two weeks due to illness or injury.

And if you're a homemaker and don't have a regular income, it makes sense to look at Life and Critical Illness insurance. These can be used to help your family keep running if anything were to happen to you.

What's more, MLC's Critical Illness insurance includes access to the exclusive Best Doctors medical service, connecting you with the world's best medical expertise.

If cash flow is an issue, there are ways to make sure you have enough insurance to protect your family without compromising your current situation.

Speak to your adviser, or call our insurance experts on 132 652 to find out how.

Our forties and fifties are a time to enjoy the things we've worked so hard to build.

It's also a time when worries about your health might start to creep in; potentially overshadowing the great lifestyle you've created.

Rather than worry, why not take the time to consider your insurance to make sure your lifestyle is protected.

Do you have enough Life insurance? What about Income Protection insurance?

Another lesser known cover is Critical Illness insurance, which can help ease the financial impact of serious illness on your lifestyle by paying you a lump sum when you need it most.

Only with MLC Critical Illness insurance, you also get access to Best Doctors, a service that connects ill people to a network of peer-nominated, leading specialists from around the world who can help with your diagnosis and treatment plan.

Taking good care of yourself doesn't have to be expensive either.

Speak to your adviser, or call our insurance experts on 132 652 to find out how you can get covered today without crunching your cash flow.

The last thing most people expect in retirement is to take on the parental role again, but this is the reality for around 22,500 Australian grandparents⁴. (PDF,2.22MB)

If something happened to your son or daughter, you'd want to make sure your grandchildren were looked after financially, whether you became the legal guardian or played a supportive role.

However what many don't realise is that the security of their retirement savings could be jeopardised if they had to take on the role of primary caregiver to their grandchildren due to unforseen circumstances

By encouraging, or even helping, your child to take out Life and/or Critical Illness insurance or Total and Permanent Disability insurance, you can protect your future, and the future of your grandchildren; ensuring you both have enough money to support a comfortable lifestyle.

This means you can focus on providing the emotional support and family structure to stabilise your grandchildren's home life. Speaking to your grown, self-sufficient child about their financial obligations can be difficult but an can give you the information you need to start the conversation.