How often should I have a review
As often as you like. It really depends on the changes that have occurred since your last review.
What do we mean by change?
Here are some examples of changes in personal circumstances that we believe are important to discuss:

• You have had an increase/decrease in your household income

• You have bought or sold a property/s

• You have had an investment increase or decrease by more than $50,000

• Your overall debt has increased or reduced by more than $50,000

• The number of dependent people living in your household has changed

• You have had a change in your personal relationship e.g. marriage or separation

• Your employment has changed

And these are some common changes that occur in business:

• You have purchased or sold a business

• Your business has had a significant increase or decrease in profit

• You have taken on a new business partner/s

• The business debt has increased or decreased by more than $50,000

• The value of your business has changed by more than $50,000

• There has been a change in your business structure

In absence of anything definitive we still recommend you should at least have a conversation with us every 2-3 years. We can often talk through a brief checklist with you to determine if we think your current situation will have an impact on your current cover.

Why are my premiums going up?
Premiums increase for a number of reasons:



Most policies are priced on a “rate for age” basis. This means that you pay the cost for cover based on your current age. Next year your price can increase (on your policy anniversary) based on your new age.

This form of pricing is favourable to most people as it is the cheapest cost for your cover right now. All things going well, your need for cover could go down as you get older and your financial commitments change. Regular reviews will enable us to accurately determine whether or not your cover needs to be reduced and ideally minimise the cost increases as you get older.



Some insurance policies have a feature built into them which increases the cover in line with inflation. This helps to ensure that you are still able to achieve the things you want to achieve if a claim is paid. These increases may not necessarily be required if your need for cover reduces such as a reduction debt levels. Having inflation related increases can be beneficial in the event your health changes and your ability to obtain additional cover through the normal application process is negatively impacted. Regular reviews will enable us to accurately determine this need. If you have any questions give as a call. There are a number of ways we may be able to assist or address your concerns.

How can I check I am not over insured ?
During Advice Plus’s review process, we take you back through the key outcomes you want to achieve should something go wrong. We then re-confirm the resources you have available to meet those needs and calculate the shortfall which may require insurance protection. This effectively ensures your cover continues to specifically addresses your situation. Regular reviews will help give you comfort that your cover levels are appropriate to your needs.

I’ve read some news articles about my insurer that I have questions about. Where do I go for more information?
That’s what we’re here for. Give us a call and let us know your questions or concerns. If we can’t answer your questions immediately we will find out for you and come back with an answer.
What do I do if I think I have a claim?
Call or email us immediately. This is where we love to help. We will let you know whether or not you may be able to make a claim and walk you through the claims process. More importantly we will assist you with the claims process and advocate for you to ensure the process goes as smoothly as possible.
I’m unable to work but know I have a wait period on my Income Protection policy. When should I let you know?
 If you have been off work for more than 1 week, let us know. Actions you take at the start of a potential claim can impact the claims process. This allows us to help you as much as possible and ensure that, if a claim needs to be submitted, it goes as smoothly as possible. Often insurers like to be updated about a client who is unwell, even if there is an extended wait period. You would be surprised at what additional assistance you can sometimes get to assist in your recovery.
I’ve had a medical event but don’t know if I’m insured for it. What should I do?
Contact us as soon as possible. We will check your existing cover, let you know what you have and whether we may be able to help.
I’ve changed address, how do I notify my insurer
Send us your new details. We will update our records and notify all your insurers for you.