Have you lent your adult kids money to buy a home? Do they have Income Protection Cover?
Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 15 July 2022. This week’s topic: How does Income Protection insurance help you and your adult kids protect each other?
Key topics covered include:
- What is Income Protection Cover?
- Why is it important for your adult kids, especially if you’ve lent them money to buy a home?
- The financial impact of helping kids in the event that something goes wrong, especially if you’re retired
- Your adult kids therefore may consider this insurance option as a part of a protection strategy
- Who should pay for it?
- Are premiums tax deductible?
- What should you talk to your adult kids about and how do you approach it?
- Luke shares his top tips to help parents who have lent money to their adult kids.
Listen to the Podcast right now
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Do your adult kids need advice on income protection cover?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Make an appointment to confidentially discuss insurance, investment, super, and retirement planning. 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 next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast.
We look forward to your company again.