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Prepared by your Financial Advisor:

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is an authorised representative of Zenith Representatives Pty Ltd.

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Super contributions:

Current superfund balance:

This Statement of Advice covers personal insurance only.

My advice does not cover:

• Superannuation needs
• Full taxation implications such as CGT, stamp duty, transfer fees, legal costs if/when policy payout occurs.
• Your general insurance needs (e.g. business, liability, public liability, professional indemnity, car and house insurance etc.)

I do not deal with general insurance (e.g. car and house insurance etc), so my advice does not deal with your general insurance needs. You will need to seek alternative general insurance advice.

Tax Issues
I am not a tax adviser and can only give you limited advice about tax. You may be entitled to a tax deduction for premiums paid on income protection insurance. I can refer you to a qualified tax adviser about this and other tax issues.

Superannuation
My Advice does not consider whether you have enough superannuation for your retirement. I can provide this advice, however this advice would be under a separate arrangement and incur additional fees.

The insurance cover amounts recommended are based on the information you provided to use via the Insurance Questionnaire called a "Fact Find" It takes into consideration your current debts, life  costs and expenses as well as some future expenses that may occur. It is essential you do not cancel any existing insurance cover until new cover is in place. I have made available a Product Disclose Statement (PDS) for each of these products. The PDS will explain the cover (EG when to make a claim).

The following insurance policies are to be replaced with the recommended insurance policies.

We considered keeping your existing insurance, however the current cover does not meet your needs and objectives. As the existing insurance is also not medically underwritten at the time the policy is inforce, we consider it an inferior product to what we have recommended.

We considered other insurance providers however they were more expensive with little or no extra benefits.

Following the advice should put you in a better position than your current position as:
•    You now have access to retail insurance policies rather than group policies which will provide appropriate and relevant cover for your occupation and personal circumstances.
•    Having appropriate insurance cover will provide you and your dependents protection and peace of mind in the event that your income ceases due to death, sickness or injury (provided the waiting period and conditions are met). The cover recommended  will adequately cover your discussed debts in the event of your death.
•    The policies are owned by your superannuation fund and therefore your premiums will be paid for from your superannuation balance. This is appropriate to your situation as you have informed me that you do not want any out of pocket expenses.
• The  Life insurance cover $ will provide a lump sum in the unfortunate event that you were to die. This can assist your family financially at this difficult time, providing funds to repay liabilities, meet final expenses or be invested to provide an ongoing income.

• The TPD cover $ will provide a lump sum in the event that either of you were to suffer a Total and Permanent Disablement. These funds can be used to offset the loss of employment income and can go towards meeting medical expenses and costs associated with the change of lifestyle.
• The  Income Protection cover will provide an ongoing benefit per month  of $(as defined under an ‘Agreed’ policy) in the event that you become unable to continue to earn an income due to accident, illness or injury.

This advice is in your best interest because:

• We have recommended that the Life, TPD and Income protection be paid for via superannuation as per your stated objectives and your Trauma protection be personally held.
   
• Life, TPD and Income Protection insurance is more effective when held via super as it is tax deductible to the super fund, thus reducing the cost to you.
   
• Insurance has been underwritten and is tailored to your current lifestyle needs and choices. When you make a claim you will not go through the medical and under writing process as this was completed when you applied for the insurance cover.  Allowing you to focus on your recovery instead of forms.
   
• There will be benefits available to cover your debts and provide a lump of $ to your family if you die

• There will be benefits $ available to cover the costs associated with your disability such as medical, rehab, house modifications and a lump some payment to cover you financially.
   
• Income Protection covers you up to 75% of your income should you be unable to work, reducing the financial burden associated with time off. You will receive a monthly benefit of $.
   
• Insurance provides peace of mind. Life events are stressful enough. It is important that your family has time to grieve or make the necessary changes without focussing on the immediate financial needs.
• Your stated goals and needs will be achieved by the recommended cover.

As per Section 961B of the Corporations Act 2001; we are required to act in your best interests in relation to any advice or recommendations provided. To fulfil this obligation, we work with you to identify your specific financial goals & objectives, and comprehensive details of your current personal and financial position prior to providing advice. If you have withheld any information or feel that we have misunderstood your current circumstances or goals & objectives, please notify us immediately so that any advice can be reviewed to ensure it remains appropriate and in your best interests.

Quotes are provided with this SoA and reflect standard insurance rates. There are no guarantees that you will be underwritten at standard insurance rates and policies may therefore be more expensive.

Policies that are paid for from your superfund are therefore owned by your superfund. In the event of an insurance claim, the payment will be paid to the superfund. You will therefore need to meet a condition of release before you can access these funds.

When lump sum benefits of insurance policies are paid via superannuation to non-financial dependents, tax may be payable which will reduce the actual benefits paid. The sum insured should be considered for grossing up (inflated to cover the tax payable). 

Please be aware that an Indemnity Income Protection policy means the Insurer will request proof of income and pay 75% of this income only.

The recommended policies are more expensive than your existing policies.

There may be tax implications involved with any insurance claim in the future. In the event of this arising, you should seek professional taxation advice from a registered tax agent.

TPD definition is "any occupation" in super compared to "own occupation" definition if owned personally. This affects when or if you would be able to make a claim. Own occupation allows you to make a claim if you are unable to work in your "own occupation," "Any Occupation" means you will not be able to work in ANY occupation that you are suitably trained or educated in.

You need to be aware that these premiums may erode your capital and have an effect on your overall retirement benefit.

• You have a minimum period for payment of a benefit if loss of life is caused by suicide. 
   
• If you have altered (for the worse) health conditions since implementation of your existing insurance policies, you may incur premium loadings, exclusions or possibly be rejected for the recommended cover. Your duty of disclosure period will re-commence meaning that the Insurance Company reserves the right to not pay claims if you do not disclose information relevant to the underwriting of the policy for a period of 3 years from acceptance.
   
• Premiums will be higher than your current superfund insurance premiums.

will pay us a commissions of 100% of the upfront premium being $$0.00 and an ongoing commissions of 10% each year the policy is in place.

is an authorised representative of Zenith Representatives Pty Ltd. Zenith Representatives receives 100% of the commissions paid.  is paid a wage from these commissions.

Are we restricted to an approved product list?
Yes. Zenith Representatives advisers can only recommend products on the approved product list. This means that we only looked at products on that list when we prepared your advice, and did not look at other products available on the market.

Are we associated with any recommended products?
No. We are not associated with any product recommended. Zenith Representatives may receive sponsorship to assist with the provision of ongoing education to our advisers, but this is in no way related to the distribution of any particular product.

Can you change your mind?
Yes. Even after you have paid for the products we have recommended, you might be able to get your money back if you are not happy (this is known as your "cooling off" rights). Generally, for insurance products and superannuation funds, you can do this within 14 days of buying the product. The PDS for each product has more information about this.

Does our advice have a time limit?
Yes. Our advice expires in 7 days from the date of this SoA. You should not rely on our advice after that time.

Is your personal information protected?
Yes. Information about you will not be given to anyone without your written permission, unless the law says we must.

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