Insurance Preferences Questionnaire

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What we're covering today:

Based on your goals, this questionnaire addresses the different features and parameters needed to choose suitable insurance product(s).

This includes:

Types of insurance plans

Level of cover

Stepped vs Level premiums

Holding insurance inside vs outside super

Insurance linking

Let's begin!

Average completion time: 9 minutes.
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Name* This field is required.Before we start, we need to get your full name for our records.
First Name
Last Name
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Email* This field is required.Please use the same email you provided to us.
example@example.com
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Do you know the difference between general and personal underwritten insurance?* This field is required.General insurance is provided by general insurance companies (such as Allianz). It's not underwritten to your personal circumstances and therefore claim-time is when you'll find out of you're covered or not. Personal insurance is provided by personal insurance companies (such as Zurich). This is underwritten by exclusions built into the policy at the time taken, such as exclusions for existing health conditions. (eg. Super insurance and Real Insurance from TV)
Yes I understand the difference
No I do not understand the difference
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At RightTrac, we do only personal underwritten insurance. Do you want personal insurance over general insurance?* This field is required.This will require more work from you (the client) and us (the Advisors), however, once the insurance is in place - you know you are covered and are protecting your family income (worth potentially millions of dollars).
Yes to personal insurance
No to personal insurance
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Do you have the resources to self-insure, or would you be willing to pay a small premium to transfer the risk to an insurance company?* This field is required.To self-insure, think: Paying out debts, providing your living costs, health costs, loss of income(s). $$$
I would like to transfer the risk to an insurance company
I feel I have sufficient assets to self-insure
I am willing to make the sacrifices I need should an event occur
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How much are you prepared to pay to protect your income?* This field is required.At RightTrac, we work on a budget of 3% of your total income as reasonable to spend. What increases the costs of your insurance is: age, occupation and health conditions and habits such as smoking.
Nothing
1%
2%
3%
4%
5% and above
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Which would you prefer? Stepped or Level premium* This field is required.Why would you go stepped premium over a level premium? A stepped premium works off the assumption that your level of insurance will be less in the future, because you are building financial assets which can self-insure. (premium is calculated based off your age and significantly increases the older you get).
Stepped premium
Level premium
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Do you have any significant health issues that may affect your ability to attain insurance?* This field is required.Eg. Outstanding issues, medications, have you been hospitalised. You do not need to disclose details now.
Yes
No
Other
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What tradeoffs would you make to keep to your budget?* This field is required.To manage the costs of your premiums, you can make the following tradeoffs:
Stepped premium rather than Level premium to reduce current premiums
Increase waiting period from 30 to 90 days (income protection)
Reduce benefit period (2 years, 5 years, age 65) (income protection)
Basic cover instead of comprehensive cover
Reduce overall level of cover
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Would you consider holding a policy inside super?* This field is required.Why would you do this? Super allows you to (a) manage who receives the benefits, (b) may provide a tax advantage on premiums, and (c) benefits could be received as a pension. Holding a policy inside super can have a detrimental affect on your balance from the cost of premiums.
Yes - hold a policy inside super
No - keep all policies outside super
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Would you prefer to link covers together to manage cost?* This field is required.Linking manages both costs and benefits, ensuring you don't 'double pay' for cover where you are covering the same benefits.
Yes - Prefer to link covers together
No - Prefer to leave covers as seperate
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Discussion NotesPlease feel free to enter any thoughts or questions that you have on the questions in this questionnaire.
Huge
Large
Normal
Small
Ok
Ok
Should be Empty:

What we're covering today: