The Government continues to face the challenges of an ageing population and ensuring that adequate services are available.  The Government considers that it will still fund a significant proportion of the cost of care, but considers it is appropriate for individuals to contribute to the cost of care, if able to do so.

The end of the current financial year is fast approaching, and we wanted to pass on a friendly reminder about what you should think about before 30 June arrives.

If you are a home based business owner you should not assume that your home and contents insurance will provide you with adequate cover for your business, and business activities.  Home based businesses usually need the same sort of insurance cover that you would need if you were operating away from home.

Recently we wrote about the different aspects of holding your insurance cover inside and outside of superannuation.  In this article we will concentrate on insurance within super, and specifically a superannuation death benefit payment, how the payment is treated depending on whether the recipient is a financial dependent or not, and the effect of making – or not making- a beneficiary nomination for your super benefit.    

As financial planners we are aware that each client is different and matching a client’s to a retirement income product is not a ‘one size fits all’ approach.