Luke on 2CC – Covid-19 and Insurance

Covid-19 and Insurance – What do you need to know and what should you look out for?


Luke Smith joined 2CC Talking Canberra 1206AM.
Financial Adviser, Luke Smith, Financial Planner CanberraThe Money Show aired on Friday 1 May 2020 and the topic: Personal insurance and Covid 19.

In today’s topic Financial Planner Luke Smith joins Leon to explore the issues around Covid 19 and insurance. How does a pandemic affect your insurance cover? Luke begins by noting that personal insurances include life cover, total and permanent disability cover, trauma cover and income protection.

Key highlights include:

  • Do insurance contracts have anything in them about pandemics? 
  • What should be looking at?
    • The types of cover you have
    • The amount of cover you have
    • Where you hold the cover – inside or outside of super (inside super might be helpful right now)
    • The definitions of your policies
  • For new insurance arrangements, that is new cover, insurers are looking are things differently right now
  • Also consider who your beneficaries are – is it a dependant or non-dependant, there are tax issues
  • What happens to income protection insurance right now…given the shut down
  • Is there such thing as redundancy insurance?
  • The importance of reviewing your policies – do they still meet your needs or have things changed? You even might save money!
  • Insurance matters to check right now: important information here that’s worth checking against your current needs
  • An offer to seek financial advice about your own insurance needs, costs and requirements.

Listen to the Podcast right now

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

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Would you like personal advice on your own insurance to ensure the cover meets your needs? 

Insurance and Covid-19
Covid-19 and Insurance

Make an appointment to catch up with Luke over the phone or via video conference. Appointments at the office will return once the Covid-19 has passed.

Envision 2CC offer:  Your first appointment is at our cost – even over the phone or by video chat. Make an appointment to confidentially discuss your personal insurance matters. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.

Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.

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