Your life insurance premiums have been steadily rising and you’re unsure if the cover is still appropriate based on your current circumstances. You either don’t have a financial planner or your existing relationship gives your insurances little attention, choosing to focus on investments instead. Sound familiar?

You’re Not Alone

Many doctors face rising premiums and wrestle with the uncertainty of whether their insurance coverage remains appropriate as life circumstances shift. You might find yourself without a financial planner or working with someone who prioritises investments over your insurance needs. Unfortunately, this can lead to a lack of proper guidance regarding your policies, resulting in complacency that could jeopardise your wealth accumulation goals and have you paying more than you need to.

A Widening Gap in Insurance Advice

The landscape of insurance advice in Australia is undergoing significant transformation. As regulations evolve, a critical shortage of specialist insurance planners has emerged, with a recent report noting only 480 out of approximately 15,000 advisers nationally are driving 50% of new business annually. The reality is that while insurance is an integral part of financial planning, most advisers find investments more attractive and lack the specialised skills required to provide meaningful insurance advice.

This growing gap highlights the lack of importance being placed on insurance, and means that countless policyholders are left in the dark – potentially overpaying for inadequate coverage that no longer serves their current life stage.

The Importance of Regular Reviews

Your insurance needs can change dramatically over time – new mortgages, growing families, and evolving careers can all affect your requirements. A proactive relationship with your financial adviser ensures that your insurance strategy evolves alongside your personal journey. Regular reviews enable us to adjust your coverage, providing peace of mind as life progresses.

Our Commitment at BFD Financial Planning

At BFD Financial Planning, we understand the unique challenges that doctors face regarding income protection and life insurance. That’s why we advocate for a proactive approach, offering and encouraging annual reviews. Life insurance is not merely a checkbox on your financial to-do list; it is a vital element of your overall wealth protection strategy.

Our team of insurance specialists are dedicated to delivering exceptional service and fostering strong relationships with all major life insurers. What does this mean for you? Access to competitive rates and potential reductions in medical loadings, ensuring you have the best coverage at the best prices.

Seamless Support for Your Ongoing Needs

Transitioning to a new financial planner doesn’t mean overhauling your existing insurance policies. At BFD Financial Planning, we can take over the ongoing servicing of your life insurance arrangements seamlessly, inclusive of our complimentary claims service. Our annual reviews will evaluate your current situation and market changes, ensuring your coverage remains aligned with your needs and competitively priced.

Ready for your insurances to become a priority? Contact us today. info@bfdfp.com