Episode 39: What on Earth are Personal Insurances?
October 04, 2021
In this episode Sarah and Trudi have invited in guest, Financial Planner, Nick Zara of Consilium Wealth to talk about personal insurances. Not sure what that encompasses? Well listen in and you'll find out that we are talking about things like income protection, life insurance and trauma cover. In this episode get into the nitty gritty with Nick of exactly what it is those policies cover and in what circumstances you can make a claim on which type of policy. We also have a chat about who should have this type of insurance coverage, when to get it, how to get it and don't I already have it in my superfund?
Personal insurances are typically purchased through financial planners, so Trudi and Sarah ask Nick for some guidance on how to find the right advisor to assist you with insurances and some of the tips and traps to be aware of.
If you think you don't need this type of insurance, have a listen in and let us know if your opinion changes.
Podcast Transcript Available Here
Duration: 33:49
Sarah Eifermann: Welcome to today's episode of Financial FOFU I'm Sara Eifermann. Trudi Cowan: And I'm Trudy Cowan. Sarah Eifermann: Today we have a longtime friend and colleague of mine, Nick Sar from Concilium Wealth, welcome Nick. Nick Sar: Welcome. Thank you. Thank you for having me today. I really appreciate it. Sarah Eifermann: Now Nick and I have an interesting history when we met, traveling overseas on a party tour that went out of Melbourne a long time ago. Nick Sar: A long time ago, when you could actually travel and, you know, do things. Sarah Eifermann: Leave your house. Let alone the Suburb leave the country. So, Nick is a financial planner with many, many years of experience in the industry, Nick, do you want to give us a rundown on your industry? Nick Sar: Yeah sure, so started. That's a long time now, it was 1999. Sarah Eifermann: Wow. Nick Sar: So, a while back I started with a company called MSA. That was more working with the investments insurance side more of the admin underwriting area. So I pretty much learned the nuts and bolts of all that basically the industry and in 2002 became a financial planner I did my best diploma in financial planning. So I did that in 2002, and just recently completed my master's in financial planning as well. That's pretty much it. Sarah Eifermann: Yeah, crazy. Nick Sar: So, yeah, so basically, since 2002 have been planning and basically giving advice in all different areas, personal protection to self-managed super funds even aged care so we have everything there. Trudi Cowan: Great Sarah Eifermann: Amazing, and you have been running your own business now for how long? Nick Sar: My own business, about two and a half years now it's about. Trudi Cowan: Time flies, Nick Sar: Time flies, it definitely does. Sarah Eifermann: Time flies, awesome. So today we thought we would have a chat about personal insurance. We talked about these briefly in the past with our audience but we've never really broken them down and dived into the depth of what they are, the value, etc So, Trudi, I think you had the first question. Trudi Cowan: What are personal insurances? What are we actually talking about? Nick Sar: Well, the way I look at it, basically, is simply just to protect your lifestyle in-depth, so if something, you know, happened unforeseen, such as you made a serious illness or an accident, you basically don't lose what you've gained in your life so it's basically protecting, what you've got, that's the main thing. Trudi Cowan: So we're talking, life insurance, income protection, Nick Sar: Disability, trauma critical illness such as cancer, heart attack, things like that, basically, yeah. Sarah Eifermann: Sometimes they're called Risk insurances? Nick Sar: People call it. Personal Protection, personal insurance risk. But yeah, pretty much everything there so depending on everyone's situation is very different. So, you know when you're single, you may need certain types of insurance. When you're in a couple of relationships or when you have children. It's totally different so it's important to then make sure that you sit down, like with a financial planner, and look at the individual needs because everyone's very different. And also sometimes you might have insurance, already through your super fund. so it's best to actually review that often as well. Sarah Eifermann: Yeah, so these types of insurances, you can only obtain them through a financial planner? Nick Sar: No, not all the time. Trudi Cowan: We've seen the ads on tv about life insurance. Nick Sar: I mean, it's the ones, nothing not knocking those guys on the TV, or via the internet. But it's, I find that the ones that don't make it off the TV, you know, they basically say that you know you don't have to be underwritten. What that means is basically, you don't need to produce all your medical history and you get coverage right away. Trudi Cowan: Yes, so no advice policies with no underwriting. Nick Sar: Correct. Correct, correct. So, I mean, having some time is always important, but it's best to actually speak to a financial planner. Trudi Cowan: Yeah, so you will get advice and underwriting at the time of application? Nick Sar: Correct pretty much that's correct. Sarah Eifermann: Yeah, and what's underwriting? Nick Sar: Okay underwriting is pretty much looking at your well basically what the way they're looking at is they're looking at your medical history, such as what they call body mass index, to say with your height to weight ratio and depending on that. If it's good, you get standard rates, if it's really good, you also sometimes get a discount on that as well on the policy that you get. If you're a smoker, if you're a nonsmoker, it makes a big difference in that as well. Sarah Eifermann: Any pre-existing medical conditions? Nick Sar: Exactly that as well. Exactly, Trudi Cowan: And these sorts of things tested ongoing, Or is it really at the beginning of the policy because do I get the policy when I'm at my healthiest or my lowest BMI? Nick Sar: It's pretty much yeah I always say get some sort of cover when you're younger. A lot of people say why to do it because shit happens. Yeah. So, I always say, you know, get some sort of cover in place, at least to cover certain things in life. But yeah, definitely. Trudi Cowan: What are some of the benefits of personal insurances, why should we actually have them? Nick Sar: Alright, well talk about is probably best to talk about is these four main areas of personal insurance, and each one is pretty much important. So, as I mentioned before, it's basically to make sure that you don't lose what you've got. So when you look at the four different areas, there's three, what we call lump sum cover. And what that means is you insure yourself for a benefit amount. So the three main areas of the lump sum are life, basically dead in a box pretty much. Sarah Eifermann: So life insurance is death insurance? Nick Sar: Correct. Okay. Yeah, that's pretty much. Pretty much a disability. Disability can be. It varies as you know, my definition is pretty much, this might sound pretty harsh is infrastructure so you are pretty much not able to look after yourself. Yeah. And then there's trauma which is like having a heart attack and cancer. Trudi Cowan: Set listing events. Nick Sar: Events correct. So then of the main three things now. So with life insurance, what would you use it for, basically to cover your debts. So if you're getting a new home. I would always recommend at least, you know, covering your home loan as a minimum. Yeah. You know your credit card debts or your car loans and things like that. For example, if your goal with life insurance is a family, you know making sure there's income for the family needs to cover your kids' education, and things like that may be as well or housekeeping or childcare. Sarah Eifermann: Large expenses that you know are going to occur. Trudi Cowan: Yeah. So we're really thinking of the space that if I was to go, what sort of money do I need to cover my big debts and to give my partner some income to look after the kids. Sarah Eifermann: For your family's quality of life. Nick Sar: Yeah, that's pretty much what that's what life insurance can pretty much look after. Sarah Eifermann: So, sorry Nick, so often clients would ask me but isn't that mortgage insurance or mortgage protection insurance, and they're not the same thing. Nick Sar: No, they're not so basic, the mortgage just covers the loan, that's what it does. Trudi Cowan: That's mortgage protection insurance. Remember mortgage insurance is lenders' mortgage insurance, which doesn't actually cover you for anything. Nick Sar: So that pretty much without giving advice, basically the way I always look at is making sure that you cover your debts. If your children have education costs covered like maybe age 21. Also, it may be that you might want to leave an amount to your spouse or your partner, maybe for a couple of years for at least that way they've got some sort of income until they get back onto their feet pretty much that's pretty much. That's the main thing you need to look at but there are other things as well, but everyone's different, pretty much. Trudi Cowan: Okay, yeah. So what's the benefit of the income protection component then? Nick Sar: Okay, so the way I look at it is this with income protection. It's like, if you've got a printer at home, and it prints $100 bills, would you insure it. So, income protection is pretty much the same. So basically, particularly income. So to give you an example the premium costs, probably around about 2% of your income, roughly. So that's to give you an example. So well looking at it, you're basically paying 2% of your salary each year. And that covers your income. And so it's something that happens so in other words, you become sick and you can't get out of bed. You basically can get up to 75% of your income. So that's how it actually works. Trudi Cowan: Now, I presume that there's usually some sort of I guess waiting period. It's not one day seeking the policy of that sort of a, what's the sort of typical period? Nick Sar: I'm sure it does vary Yeah. So, it depends, like you've got 14 days 30 days 60 days, or 90 days, depending on your situation. So if you're self-employed or if you're an employee, and you know what waiting period you pick, and then also if you've got surplus funds in your bank account. If you can last a bit longer than 14 days or 30 days and, you know, you do that you basically extend your waiting period, and why you extend it. The longer you wait, the cheaper the premium is, yeah, that's the reason why there is, so that's pretty much it. Sarah Eifermann: So if you've worked for a couple of years or a long time for one employer and you've got a lot of leave accrued, sick leave accrued, it may be beneficial for that person. Trudi Cowan: Well, that was my other question if I do have lots of sick leave does income protection, kick in, while I'm on sick leave, or do I have to abuse my sick leave, how does that sort of Nick Sar: Depends on the policy. Yeah, it really depends on the policy. So that's where the terms and conditions of each policy are very different. But generally, you know, you've got your 30 days, 60 days, or 90 days and then you pretty much covered. So it depends. Sarah Eifermann: Yeah, I suppose that's demonstrating it again why it's important to get the advice upfront, rather than Nick Sar: Knowing exactly Sarah Eifermann: Because all these circumstances are so unique and different.What I need It'll be different from what you need Trudi. Trudi Cowan: Oh yeah, definitely want to put in the context of my question, my husband's been in his role for I think about 20 Something years so he has oodles of sick leave. Yeah, so if you want to say that it doesn't kick in until after you've used all of your sick leave, well that's probably six months in. So, yeah, It's obviously gonna vary what sort of policy. Sarah Eifermann: I have a question for you Trudi. Yeah, is income protection tax deductible? Trudi Cowan: It is. Sarah Eifermann: Wow, Trudi Cowan: The income protection component of it is deductible so often when I get the statements from my clients, their policies often have a couple of components and the insurance company will normally split out the income, the premiums that relate specifically to the income protection that you can claim. Sarah Eifermann: So you paid 2% of your salary to get it, but then you get that, roughly speaking, as a deduction, of the tax bill. Trudi Cowan: Yes. Sarah Eifermann: Wow, it makes sense to me as everybody should have it. Nick Sar: It also goes with regards to sick leave and if you're working in all that as well. There are some policies out there that if you work less than 10 hours per week so if you're not working at full capacity, you still receive that income as well. Trudi Cowan: Yeah, okay. Sarah Eifermann: Here's a question. If you are employed, and you injure yourself at work, and there's a WorkCover claim in play. Are you still eligible to claim your income protection as well? Nick Sar: Yes and no depending on the amount that you received. Sarah Eifermann: Okay. So, is there a possibility for both? Nick Sar: Correct. Depending on the situation. Correct. And there's also with income protection depending on what happens in that incident, without going to, like the finer details some policies actually pay you to double your monthly benefit as a lump sum straight away. If you fractured your forearm, Sarah Eifermann: Yes. So again like specified events, they just give you the money, because that was a set injury. Nick Sar: Correct, yeah so it really depends on the policy. Trudi Cowan: So if you're in a more high-risk industry construction or something, for example, then it's really worth having a chat to do some really specific things that Nick Sar: Exactly and when I've got clients who basically do marathon running, or cycling, or playing basketball. I mean I've had clients just playing basketball with their kids, fractured their heel, you know, and then basically got to pay up to two months with a benefit, and went to work the next day, so Sarah Eifermann: Yeah it does happen. It does happen. Yeah. Trudi Cowan: So when you've got a new client who comes to you wanting to have a chat around their personal insurances, what are some of the main things that they should be thinking about or concerned about when taking out a policy? Nick Sar: Picking policies. It depends on what they want it for what they want, what they need and why they want to cover, you know what they want to cover, Sarah Eifermann: You pretty much say the same thing I say every single episode. What's the purpose? Nick Sar: So, what I look at when I sit down with clients is three main things. Well first of all what they need to cover, why they want to cover, and when I sit down is to find out what's the best fit for them. I look at the policy terms and definitions, and then look at themselves as a client, you know, look at their family history. Look at their personal health, to see exactly because all policies are different. Some insurance companies, if you're overweight. You can, you know, there are other companies, companies that actually ensure those types of people, or those, you know, depending on their occupation, it's all dependent, everyone's different, so that's basically. Trudi Cowan: Yeah, I suppose as having an open mind, but knowing what the purpose is of why you're interested in the first place. Nick Sar: Yeah, exactly. And then other things we'll look at is structure because some people like to pay through their super fund, others for the bank account, but paying from the super fund, the bad thing about that is actually reducing your retirement savings fund sometimes with cash flow, you know some people, unfortunately, have to do it this way. The other things I look at as well. Trudi Cowan: So, most people would probably have some form of insurance through this Superfund whether they know it or not, Sarah, shaking her head at me saying, man and a lot of people would have it through their super fund? Sarah Eifermann: There has been a change in legislation, wasn't there, Nick? Nick Sar: Say that again, sorry. Sarah Eifermann: There was a change in legislation with the laws, that used to be the case but Nick Sar: Yeah so what happened was, yeah, with the opt-out bit. So, if you were contributing to your super fund. The insurance inside it actually laps that that means it actually just canceled it and Trudi Cowan: Yeah but for those that are still contributing, many people would still have insurance within their super fund. Yeah, so why is there? What's the decision thinking I guess in terms of why would you have it in your super and why would you pull it out and pay it separately, is there reasoning around that? Nick Sar: I would depend on that situation, everyone's different. The benefit these days as well, having it through super so you can actually technically call it paying it through super but if you're actually paying out of your pocket, and the premiums that you actually pay for it, is actually tax-deductible to your name, or it just reduces your taxable income. Yeah, that's an option as well you can look at. So yeah, Sarah Eifermann: Do you have to opt-in though to super with insurances within your super funds now though? Nick Sar: Yes, yes. So, Trudi Cowan: That's new, assuming a new policy though. Sarah Eifermannse: No, no. Didn't they change that law? Trudi Cowan: Not existing super fund. No, they didn't cancel everyone's policies. Nick Sar: No they can't say if your is the money going in, even $1 Go into the super fund, then they can actually keep insurance, say if you're a believer if you're contributing. Trudi Cowan: If you stop contributing. Sarah Eifermann: Maybe I'm wrong but I was on the assumption that two years ago that if you didn't opt into the insurances within your fund, they changed the legislation, or if you didn't tick that box they would automatically cancel the moving forward because obviously insurances in your Superfund they eat up. Trudi Cowan: That's the new policy. Sarah Eifermann: Is that only for new policies? Trudi Cowan: I think so. Sarah Eifermann: Okay, well we can check that Trudi Cowan: Because otherwise, they would have had to require everybody to opt-in. Nick Sar: They did. Trudi Cowan: They did? I better go and check my insurance. Sarah Eifermann: Yeah, exactly. Yes, the whole thing was a big thing. So the government decided that insurances within super funds were eating up super balances and obviously, impacting retirement savings as you've already mentioned and that if they change the law so you had to opt into your insurance and agree to have the contribution being taken out of your fund. And you didn't. Nick Sar: They canceled it. Trudi Cowan: I reckon it's only for low balances. Nick Sar: No, and low balance under 5,000 A year it was. Sarah Eifermann: Okay, so, but for some people, especially self-employed people who may have worked for someone else and had a small amount of super but may not be contributing now, they may think they're covered in their super fund, but they are not. And so, what I'm saying to people is go and check whether or not your policy has insurance within it, if that's what you're relying on and you're not doing anything else. a really important thing. Trudi is just gonna Google that. Trudi Cowan: I am just going to leave it because I am sure I didn't have to opt-in. Okay, so it was Nick Sar: 100%, you have to opt-in, I'm pretty sure of that one. Trudi Cowan: But it was only for new members if the new members were under 25 years old or the account balance are less than $6,000. Sarah Eifermann: So there's the answer. Trudi Cowan: So for people who are over 25 and have balances above $6,000 Their insurance should have continued on, without having to opt-in. Sarah Eifermann: Yeah, but like I said a lot of self-employed people don't actually have much money, it's something to consider if you were relying on that. Otherwise, just call Nick and ask for his help. Problem solved. Trudi Cowan: Or ring your super fund and check that your insurance is still in place. Sarah Eifermann: Yes, exactly, exactly. All right, so we've sort of already talked about cost, but I would like, can you explain perhaps a little bit more about trauma because I suppose trauma insurance is the one that most people don't really take, it is the least popular? Trudi Cowan: People probably don't know about it I suspect. Nick Sar: That's true that could be true. But the thing is wanting three people, the statistics are 1 in 3 People actually claim on trauma cover. Sarah Eifermann: It's quite high. Nick Sar: Yeah so it pretty much covers. It covers pretty much any traumatic event or illness, major illness. It covers cancer. And what I mean by cancer. Cancer such as skin cancer. Any type of that type of cancer. It covers heart attack, stroke, if you have a lot of older clients that have a bypass some covers do actually cover you under that as well. So it covers, you know blind, deafness, Sarah Eifermann: I had a client a few years ago that I had referred to a financial planner, and he had trauma insurance and he got cancer of his eye and couldn't work for a couple of months, and didn't have income protection. And then I just said to him, he told me about and I said well ring the financial planner, and he got 10 Kay's a payout of his trauma insurance because he did take the trauma insurance. So, most of the people I know that have it have actually claimed in some capacity on the policy. Nick Sar: Just to give you a couple of examples. About two months ago, I had a client that picked up some parasites. Just sounds a bit weird but basically, it gives viruses or anything like that. And basically, that's actually inducing them into a coma, and because of that they actually induce him in a coma. He got to pay up to $300,000. Trudi Cowan: Wow. Yeah, because that was one of the conditions of the policy and requirements. Nick Sar: Exactly ICU. So basically, it's been an ICU-induced coma, and you got to payout based on that, he's actually fine now. There's nothing wrong now. Trudi Cowan: So the insurance is probably paying out on a few COVID patients at the moment. Nick Sar: Pretty much if you go into ICU, pretty much. Yeah, another one. Trudi Cowan: Yeah, it puts it in context. Nick Sar: Yeah, actually one client, it's actually going back with regards to yourself if your client asks their financial planner. Yeah, I had a client with whom I reviewed a bit of insurance. I select just you guys up on the phone and on the internet. And but actually, you know what they actually had, whatever cover the head. And I said they reviewed their cover, and I have referred this client, sat down, had a chat with them and looked through their policies and I said you had breast cancer back in 2002 Yeah, she goes Yeah, she goes, Did you clean on this policy? She says no. So basically ended up lodging a client and his client going back to 2002. And she got paid out. Trudi Cowan: Wow. Nick Sar: Yeah, so it's surprising how many people Trudi Cowan: with a review then Nick Sar: Exactly. Yeah, exactly. Trudi Cowan: Of checking out your policy. Sarah Eifermann: I think people just don't realize I mean, what you can. I've got income, I've got all of them because I took them out when I was 28 on what's called the level premium. Trudi Cowan: So level premium, do you want to explain level premium quickly? Nick Sar: Yeah, quickly. Okay, so the level premium is a bit like a fixed home loan. Yeah, so, pretty much you're fixing it and you're fixing the insurance right, what will be so we took out your 28 Yeah, I did mine as well 28. When I was 28. So I basically took out my cover at 28 and a little bit extra, but with the set, so now I'm 48. So basically what that means is my insurance premium doesn't go up each year as you get older, so we said premium you pay slightly less, but what happens each year that premium increases, Sarah Eifermann: And it can go up astronomically as you said again about 50. Nick Sar: Yeah, exactly. Sarah Eifermann: I took my policy out on level premium with my trauma and TPD total impairment disability in life, and then I took income protection, and I actually broke my foot twice within 12 months. And I was able to claim my income protection because of being mobile as a mobile mortgage broker. I needed to drive for work I broke my right foot I couldn't drive by a claim on my income protection, because I wasn't able to go and see clients might be different now but, you know, eight years ago we weren't doing online appointments and the banks didn't allow us to do online appointment so you'd be surprised how many people if they have it claim on it. And I know it seems like it's expensive, but if it's tax-deductible and it's an insurance policy, in the true sense of the word. Nick Sar: It's like having that printout, as I said before the printout. Trudi Cowan: Now, we mentioned age before, is there a cutoff age where you can no longer get these insurances? Nick Sar: Generally once you hit 65. 60, 65 is pretty much when you sort of, it's harder to get insurances, Trudi Cowan: Okay, but if you've got it, can you keep the policy rolling so you just got to get it before you hit those ages? Nick Sar: Yes, pretty much, but generally, 60, 65 is when the policies start to lapse pretty much so you can't actually go past 65 especially with income protection. Generally not working past 65. Trudi Cowan: Yeah, they haven't caught up to the rest of the world. I know plenty of business owners who have worked past that. Nick Sar: They are policies up to age 70. But you're paying for it. Yeah. And generally, when you're in the 70s, I would assume that you would have had some money by then, so you probably don't need it as much. And that's why, yeah that's why you should review insurances every year, well not every year, every two to three years, just to make sure everything's in line with regards to, you know, Sarah Eifermann: I suppose it's important to say like, especially in the example with the level premium that will only work for you if you keep paying the policy. So I knew it was like a 30-year commitment when I took it out because I will lose the benefit, yeah I don't keep paying it past age 50. Trudi Cowan: I've got a client who maintains one of these policies because it was taken out before he had a pre-existing condition. So, who takes it? That policy, whether it's financially worthwhile or not because he knows that it was before a certain condition come in which he can no longer get insured under that particular condition for so, Sarah Eifermann: So I have one more question for you and then if you have any other tips you'd like to share please do, but how does a client find the right financial planner for them? Nick Sar: Me. I mean it's like with myself, I mean not talking about myself now, but making sure that the advisor or the financial planners got access to all the different providers because every provider is a bit different. That's the main thing. Yeah, and generally like the market is that 8 to 10 different providers now. So, you know, making sure that you know we look at, you know, as I said before the policy terms and definitions, making sure the structure, and also the price structure is in regards to inside super outside super price. The other things I look out for. But yeah, that's pretty much what I believe those three main points are. Other things when you should really look at considering personal protections, Mainly when you go through a life event such as a new job. Trudi Cowan: I mean, wouldn't you do it if the life event happened? A new job makes sense. Nick Sar: a new job because depending on your occupation depends on what you're, what you'll be paying is a premium. So sometimes if you go from, you know, you might be a plumber, where you get a, you know, a certain rate based on risk, then you might be a site manager because of that site manager role, your insurance premium will actually reduce because your risk just has reduced, so they're just to give me examples of regards to new jobs. Trudi Cowan: And if some of our listeners are thinking about leaving their job to start a business, I presume they should try and get it done before they leave the job. Nick Sar: Oh yes, I definitely agree with that. But, yeah, definitely do that because it's something that, yeah, definitely. Other things, as you know Sarah mentioned before, home loan, your home loan definitely or within your home, yeah, definitely review at the same time. Sarah Eifermann: So I suppose it's important to say that finance brokers and mortgage brokers have a legal obligation to tell you if you're increasing your debt, you should be looking at insurances. Like bank staff don't. So, it's important that if a broker says that to you there's a reason, they're saying that to you, so that you're on top of it as well. Nick Sar: Definitely, definitely. Getting married is one thing as well because your beneficiaries change the beneficiaries because I find sometimes that people forget to change their ex-spouses if they get married again or have a partner so definitely that. Family addition. So having a baby. Yeah, definitely. That would be one thing as well and divorce as well as I mentioned before, yeah. Yes. Sarah Eifermann: I'm sorry I lied. I have another question. So, how do you get paid, do you charge a fee, do you get paid a commission, how does it work? Nick Sar: It depends on the client. Some clients prefer to do the commission so I'll sit down and actually work out, you know what to do and review it, or if they wish to they can pay a fee, depends on every client each situation is different, Trudi Cowan: Of course because everyone has more work or involvement. Nick Sar: Yeah exactly. Sarah Eifermann: You offer both though? Nick Sar: If they want to that's definitely I can do both definitely can do both. But I'd say, 90% of the time they prefer to pay the commission, basically brokerage. That way is basically bundled into the price. Sarah Eifermann: Yeah, so not out of their pocket, per se. Trudi Cowan: Yeah, like they are not paying for it that way. Sarah Eifermann: Still paying for it, but yeah. Cool. Well, that's all my questions. Trudi Cowan: That's all my questions too, it's been great having you. Sarah Eifermann: Fantastic having you on board. Nick Sar: Thank you Sarah Eifermann: So how can people contact you if they would like to chat. Nick Sar: Yeah, definitely. They can go to my website @conciiumwm.com.au. Yep, so they can go through that, or mobile 041-051-5885. Trudi Cowan: And it's a contentious question but what do you prefer? Nick Sar: Either way doesn't bother me. Sarah Eifermann: Yeah, I am a phone person, just ring me, call me. Nick Sar: On the website, there's actually a link that can actually book an appointment. Straight into my diary. Sarah Eifermann: Trudi loves this. Trudi Cowan: I do like those, so much easier. Like these are the sort of things that you think about, like, seven o'clock at night and you don't want to ring someone at that time of night, right. So, book your appointment, it's easy. Nick Sar: Exactly. Definitely. Sarah Eifermann: Cool. Any final tips or things people should consider as it relates to insurance? Nick Sar: That's pretty much it really, yeah I think we covered pretty much everything. Sarah Eifermann: My tip is, go and get it reviewed. If you haven't, and if you haven't booked an appointment to talk about it and start the process. Nick Sar: Definitely. Thank you. Thanks for your time. Sarah Eifermann: It's really lovely having you onboard. I'm sure we'll have you back at some point Nick. Nick Sar: Thank you. Sarah Eifermann: Thank you for listening to Financial FOFU I'm Sarah Eifermann Trudi Cowan: And I'm Trudi Cowan Sarah Eifermann: Cheers.
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