Services
Your Risk Protection Specialists provides high quality Risk advice (also known as Wealth Protection and Personal Insurance) and Portfolio design. Your Life Risk Protection Portfolio is your foundation that supports your wealth creation plan.
YRPS specialises in the provision of superior Life Risk Protection Portfolio design to:
- High Net Worth Individuals.
- Expatriate Australians living and working abroad.
- Larger sums insured and unique policy design.
- Business Risk Protection Portfolio design.
Your greatest asset is your ability to earn an income. What would happen to your family’s lifestyle and finances if you were unable to work for an extended period due to an illness or injury?
If you were not here tomorrow, would your family be in a position to extinguish debt and maintain other financial obligations?
If you suffered a serious illness such as cancer or a heart condition, do you have the funds readily available to pay for optimum medical treatment, attend to any debt requirements and provide you with recovery options such as returning to work part-time?
Do you have a business will?
If yes, when was it last reviewed/updated?
In your business, do you have any Key Personal Cover on revenue making staff?
Income Protection provides an income stream should you be unable to work due to an illness or injury. Many people have their businesses, houses and vehicles insured without protecting their own ability to earn an income that pays for these things and underlies their financial position.
Life cover provides a lump sum payment upon death. These funds can then be used to clear debt, provide an ongoing income, and cater to any other expenses as they arise so that the family’s financial position and lifestyle is maintained.
Total Disablement cover provides a lump sum payment if you suffer an illness or injury and am unable to ever work again.
Leading-edge Trauma / Critical Illness cover provides funds should you be diagnosed as suffering from approximately 35-45 serious illnesses such as cancer, heart attack and stroke. This money can then be used to obtain optimal medical treatment, cater for other expenses such as clearing debt, and provide options during recovery such as returning to work on a part-time basis.
Business Expenses protection dovetails in with your Income Protection in order to pay for fixed business overheads for up to a year.
Key Person Protection serves to replace lost business revenue or capital value which occurs due to the loss of an important individual’s ideas, drive, initiative, skills and ingenuity which occurs if that person suffers a serious illness, is disabled or dies.
The Business Will enables a terminating principal to sell his or her part of the enterprise to the continuing owners and for them to buy it if they suffer a tragic event. A well prepared business will considers the legal, taxation and financial impact on your business, therefore, the preparation of it should be a team effort.
We suggest the following professionals should be involved:
- Risk Protection Specialist – matches the product to the need, for example, type of business Risk Protection required, amount of cover etc. Ensures that the product solution does not trigger unnecessary CGT.
- Accountant – Values the business and calculates the transfer of costs such as CGT, stamp duty etc.
- Solicitor – Takes instructions from the client. Drafts an appropriate agreement to minimise the potential for any adverse outcomes, such as CGT, hostile estates etc.
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