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ABOUT US
Hi, I am James Harman. I have been involved in the financial services industry since 1983 (25 years).
I have been married to my life partner Nita Harman for 30 years, have 3 adult children and love my job – this website is about using my life experience to help you with life protection for yourself and your family.
As a member of Australian Financial Advisers, FINSIA (Financial Services Industry of Australia) and the Australian Compliance institute I continue to uphold the integrity of the industry. The qualifications I hold allows and legalises me to advise on all aspects of your risk financial planning.
My professional service advice covers all aspect of risk cover including family planning, Business Succession, Put/Call-Share Purchase Agreements, Keyperson and any funding required for life risk.
My clientele varies from individual, mums and dads to corporate executives.
My pride and professional abilities are my success and your guarantee.
OUR SERVICES
Life InsuranceTotal & Permanent Disability
Trauma / Critical Illness / Crisis Care
Life insurance is designed to pay a lump sum benefit on the death of the life insured.
When calculating the amount of life cover you will need, debt clearance and lump sums that can be invested to replace your loss of income are important considerations. The lump sum can be invested to provide a future income stream for your dependants to meet future expensesAs a general rule of thumb if you allow for clearing all debts and a further amount of 10 times your annual salary this should provide a level of security for your dependants. (this amount will vary depending on your individual circumstances)
If you are self employed or a director of your own company, the life policy could be structured in a way that allows you a tax deduction on premiums (call or email for details)
Life insurance can also be used to provide funding for business partners or directors to purchase the shares of co directors or partners on their death. You can also use life insurance to insure key people in you business who's death would have a detrimental financial effect on the company.
If you own a DIY superannuation fund you may also benefit from having your life insurance owned by your DIY super fund. This link will take you to a PDF that explains in more detail one of the benefits of this strategy. Do not fall into the trap of transferring your existing life policy into your DIY fund as this "in specie" transfer will render your fund non-compliant.
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Total & Permanent Disability
TPD insurance pays a lump sum benefit on the event of a person becoming totally and permanently disabled. It is designed to provide a lump sum to pay off loans and provide funding for medical expenses and any home modifications that you might require as a result of total & permanent disability.
This type of insurance is normally taken in combination with life insurance and has either an "own occupation" disability definition or "any occupation". If this cover is taken as part of a superannuation policy it can only have "any occupation" definition and this means you will only receive a benefit if your are unable to work in your usual occupation, or at any other occupation which you are reasonably suited to by way of education, experience or training and these circumstances have existed for at least 6 months continuously.
Features, benefits and price of insurance have gone through considerable change in recent years .There Are also tax and legislative changes that make a regular insurance review even more important Contact us to see how you could benefit from an obligation free review.
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Income Protection
Income protection insurance is designed to replace up to 75% of your income if you become injured or sick and cannot work
Income protection is particularly important as your ability to earn an income is probably the most valuable asset you have. If you were to be injured or get sick and were unable to work for several years, how would you meet your monthly commitments like mortgage repayments, bills and other expenses.
The premiums you pay for this type of insurance are tax deductible to the owner of the policy as an individual or company. You can insure a maximum of 75% of your income although some insurance companies provide booster payments or additional amounts on certain claims that will increase this percentage.
There are several options that will effect the cost of your income protection policy, these are:
- Waiting period
The amount of time that you will have to wait after you are unable to work as a result of injury or sickness and before your claim commences. The typical waiting periods are 14 days, 1 month, 3 months, 6 months, 12 months and even 2 years. The shorter the waiting period the higher the premium. With some insurance companies you can also apply for a policy that has a 30 day wait period on sickness but a shorter wait on injury that can be as low as 4 days. - Benefit period
The number of years that your benefit will continue to be paid after you have made a claim. Insurance companies normally offer the choice of 2years, 5 years, and to age 65. The longer the benefit period the more expensive the premium, but being paid to age 65 will give you and your dependants long term security, and remember the premium is tax deductible, so the net cost difference between a 5 year benefit and to age 65 may not be that great. - Business Expense Cover
Business expense cover provides a monthly benefit to reimburse certain business expenses if you are unable to work because of injury or sickness. The type of expenses covered include, rent or mortgage payments, rates & taxes, leasing costs of business equipment, salaries of employees not generating business income, accounting fees, etc.
The waiting period is normally 14 or 30 days and the benefit period is 1 year. The premiums for this policy are tax deductible. If you are in partnership or have co directors the policy will cover your share of eligible expenses.
Features, benefits and price of insurance have gone through considerable change in recent years .There Are also tax and legislative changes that make a regular insurance review even more important Contact us to see how you could benefit from an obligation free review.
Request a Quote Online
Trauma / Critical Illness / Crisis Care
Trauma or critical illness insurance pays a lump sum benefit in the event that you suffer a major illness or accident and it is listed in the critical conditions covered.
This type of policy is designed to assist with medical expenses associated with the trauma and other costs you may have to pay. It can also provide the funding to pay off any debt and provide a lump sum to cover the shortfall with income protection as you can only insure a maximum of 75% of you income.
Some of the trauma /critical illnesses covered include, Heart Attack, Cancer, Blindness, Deafness, Major brain surgery, Major burns, Major organ transplant, Multiple Sclerosis, Muscular Dystrophy, Parkinson's Disease, Paralysis, Stroke etc.
The complete list of trauma's covered is available in all product disclosure statements that are provided by the insurance companies
Trauma insurance can also be used to fund the purchase of a business partner or co director's shareholding if they suffer a trauma and are unlikely to return to work. The premiums for this type of policy are not generally tax deductible and the lump sum benefit paid is normally tax free.
Features, benefits and price of insurance have gone through considerable change in recent years .There Are also tax and legislative changes that make a regular insurance review even more important Contact us to see how you could benefit from an obligation free review.
Request a Quote Online
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