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What Has Been Added To The Store In The Last 60 Days?
Now Incorporating Top 10 Downloaded Items In The Last 30 Days

We have made it easier than ever for you to find what has recently been added to the store. This is a moving feast as it depends on the frequency of new content added. Each item listed below will also appear in the relevant section associated with it or via search in the top right-hand corner. We've now added the top 10 most downloaded items if this type of thing interests you.

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Lightbulb Idea IconQUICK TIP: To find content quickly, use SEARCH [above right] with quotation marks e.g. "Estate Planning"; "Trauma"; "Claims", etc.


Mortgage Broker Referral Client Introduction Letter NEW
This client introduction letter template is ideal for advisers (wealth as well as risk specialists) who are about to embark on a referral partnership arrangement with a mortgage broker or even for those who currently have an established arrangement in place. Either way, initially it's likely you'll need to email the client referred to you by the broker (as well as probably phoning them). The need to concisely position your service/s in a way a consumer can understand is important to facilitate client engagement.
Approved Product Lies - ClearView White Paper
This ClearView Life commissioned ‘white paper’ was reported on in The Australian and various financial press at the end of October 2019. The Risk Store is making this paper available for ALL our members (free and paid) because we believe some of you may find it informative.
Child Permanent Dependency Needs - What This Looks Like Diagram
Timeline of expected needs - what does this look like financially? Advisers / Paraplanners need to take into consideration the timeline of expected needs and the financial requirements for a dependent child having to calculate parents’ death sums insured to cater for the needs of the child while facilitating the estate plan e.g. disability trust (testamentary). This diagram is useful in assisting the Adviser / Paraplanner establishing the need and being a great visual aid when discussing the potential need with your client.
Needs Analysis Ownership Guide - Income Protection
An adviser / Paraplanning needs analysis quick-reference guide presenting 4 ways of owning income protection including: > Ownership Strategy > Pros > Cons > Counter Indicators
Income Protection - Ownership Guide
An adviser / Paraplanning quick-reference guide presenting 4 ways of owning income protection including: > Ownership Strategy > Pros > Cons > Counter Indicators
The Awesome Guide to File Notes Checklist (significantly updated V3)
This is our significantly updated awesome guide to file notes - version 3. This guide has evolved over many years; some elements reflect court case outcomes and so are very relevant to 'best practice' goals. We trust these will serve the following purposes for you: 1. Give you a 'checklist' by which to assess your current methodology of file noting (Inc. AFCA’s top 10 tips) 2. Enhance your current note headings to enable / remind you to capture often-forgotten points that could be important 3. Or just get you started with a file note methodology if you have none right now 4. Add some standard record-keeping around the actions that you take post-file noting
Risk Planning For 21st Century Parents
Specifically written for the no-kids-yet adult kids and their parents type clients. This article will address the extent of life risk issues to look out for and to manage, with these two breeds of client. After reading this article you should be able to: - Explain the underwriting process in the context of guaranteed future insurability in an obesity-affected world - Develop strategic skills in the use of level premium policy structuring for younger ages of client - Conduct meaningful discussions regarding the ‘boomerang’ and 'Mum & Dad Bank' phenomena and their impact on financial security of parents - Present associated supportable ‘best interests’ strategies in an educative manner to clients. Includes case studies and tips.
Counting Child Cancer Hidden Costs News Article + Study Summary
We reproduced this news article from The Sydney Morning Herald so you can save this to show your clients when discussing child insurance (trauma) cover. It also includes an academic study summary on parental depressive symptomsand childhood cancer: the importance of financial difficulties. When Christine Urban’s son, Magnus, was diagnosed with cancer when he was 12, she said it threw the family into emotional turmoil. But it was the unexpected, hidden costs that came along with his treatment that were “absolutely horrendous”.
Helpline: Family Succession Planning
Family Succession Planning: This helpline Q&A is a family farming succession situation that is not uncommon. The adviser seeking our guidance was on the right track but perhaps overcomplicating the end solution required. We offered a more simpler, less costly (for the client) alternative. Read and learn...
A BMI Guide inc. Insurer BMI Loading Thresholds
Which Weigh Will We Go? - An essential reference guide to keep handy. Which Weigh Will We Go? is a tool that helps you to decide from which insurer it might be best to obtain a pre-assessment of your client’s BMI rating. It describes what medical tests each insurer requires at what BMI threshold and, further, what additional terms it might apply to an application for insurance. This tool won't be the only factor you take into account, but it is a very useful part of your strategy for the client’s protection provider selection. The most convenient way to flag if an insurer may have concerns is firstly to calculate your client’s BMI and this is the tool for this.
Mental Health Supplement Questionnaire To Personal Statement
Field Underwriting Pre-Assessment It’s almost a given that anyone reading this will understand the importance of responding carefully to a client’s disclosure of a mental illness history or current condition, in relation to a pending life insurance benefit application (be it for death, total and permanent disablement or income protection). Your field underwriting that follows needs to be as efficient and simple as possible, yet if you choose to use an insurer’s questionnaire for pre-assessment purposes, you will be putting the client through more questions than are necessary for this pre-assessment.
A Picture of Overweight and Obesity in Australia
Overweight and obesity is a major public health issue in Australia. This report, published by the Australian Institute of Health and Welfare (AIHW) in 2017, brings together a variety of information to create a picture of overweight and obesity in Australia.
Life Insurance Code of Practice (Australia)
The Code is the Australian life insurance industry’s commitment to mandatory customer service standards. It has been voluntarily developed by the life insurance industry through the Financial Services Council of Australia to: 1. Promote high standards of service to consumers 2. Provide a benchmark of consistency within the industry 3. Establish a framework for professional behaviour and responsibilities
Contributions Cap Calculator 2019/2020
Whether you are a life risk specialist or wholistic adviser, it is critical for you to be proactive and protect your clients using this essential fact-finding and annual review calculator (updated for F/Y 2019/20). This calculator and checklist will assist you to determine how much your client/s can contribute as salary sacrifice or as personal deductible contributions to avoid an excess concessional contribution for the 2019/20 financial year. Your client/s may be left exposed to potential ATO penalties if you do not check on their behalf. This calculator SHOULD form part of your standard advice procedures.
RR Issue 190 - Even the wealthy need insurance, here’s why…
A real-life case study on the importance of your clients continuing to get good financial advice and where a good advisers can seek good claims outcomes for their clients. The Tale of The Week is another case study showing why even the wealthy need insurance as part of their estate planning. Learn from both of these stories!
2018 Claims Paid Statistics By Product Type
These stats are no longer collected and published by The Risk Store. After 11 years and publishing our final stats in 2017 (for the previous 2016 calendar year), we were forced into making a commercial decision to cease work on these reports. We still have claims paid stats available from 2006 through to 2016 via our Industry Stats section on this website.
2017 Claims Paid Statistics By Product Type
These stats are no longer collected and published by The Risk Store. After 11 years and publishing our final stats in 2017 (for the previous 2016 calendar year), we were forced into making a commercial decision to cease work on these reports. We still have claims paid stats available from 2006 through to 2016 via our Industry Stats section on this website.
Product Research - 26 Issues to Check When Replacing Policies Checklist
Replacement policy advice is crucial if the regulatory requirements are to be satisfied. Many advisers feel somewhat confused about and confronted by how to assess the suitability of a potential life risk product replacement strategy, particularly when it comes to documenting this in the Statement of Advice document (SoA). This list will assist by covering many possible considerations and will therefore help to create a list for inclusion on the SoA as well. Are you covering off adequately?
RR Issue 189 - Interrogating Your Clients – Yes It’s Ok!
“If anything was to happen to me I’d be able to keep the business running and draw income from it.” “If anything was to happen to me I’d sell the business and use the funds to cover expenses / provide an income stream." This issue of The Risk Read feature story covers off on the importance of 'digging deep' with your fact finding conversations. Heard these declarations any time from a prospective client? The Tale of the Week is all about an easy way to demonstrate value to your clients by discussing binding nominations in their super.
RR Issue 188 - Is Standalone Trauma an Appropriate Solution Any More?
Are you still recommending Standalone Trauma? Are you aware of the outcome ramifications of standalone vs Linked or Bundled? In this technical article article we explain with a couple of scenarios why Standalone is maybe NOT the way to go anymore. In our Tale of The Week section, we cover off on 3 frequently asked client questions about life insurance security. Something you may want to reproduce and communication to your clients just to reassure them.
Retirement Letter Template to Client and Business Associates
There comes a time when one has to announce one’s retirement and/or move away from the business to start a new career. This letter / email template is written to save you time by providing you with the basic structure to communicate this event. It comes with two optional paragraphs: option 1 existing business name remaining and option 2 new business name taking over. Of course, you need to tailor it to suit your own circumstances, personality and style.
TPD and Trauma - Both or Either?
Trauma or critical illness benefits came into existence in the early 1980s and, ever since, advisers and other professional advisers have asked the question, ‘Should clients have total and permanent disability (TPD) benefits or trauma benefits, or both’? After reading this article, you should be able to: › Explain supporting recommendations that include the benefits of having both TPD and trauma cover › employ easy-to-understand explanations of TPD and trauma benefits to clients › analyse the needs analysis for both benefits to cater to combined affordability › apply accurate, meaningful and compliant statement of advice content in relation to TPD and trauma cover.
The Cost Of Care Whitepaper by Zurich
This study, commissioned by Zurich Life Australia, examines the incidence – and cost burden – of ill health in Australia. By drawing on aggregate health data, and individual case studies, the Cost of Care whitepaper serves to give financial advisers and their clients a clearer picture of the direct and indirect cost impacts to them and their families in the event of serious injury or illness. In doing so, the study aims to give a greater understanding of the healthcare, social security and insurance ecosystem, in turn allowing more informed decision making about the most appropriate mechanisms to protect one’s financial wellbeing.
Navigating Superannuation Death Claims
The incidence and amount of death cover in superannuation funds will continue to grow, propelled by the MySuper legislation entrenching itself into our clients’ lives from 2013. Advisers will be formulating advice on topping up the superannuation death cover and whether this top-up should be via superannuation, too, or owned in an ordinary policy environment. The effect on both claims payment timing and on the distribution of the funds released from the death benefits held in superannuation need to be carefully considered within any strategy, along with consideration of the number and nature of the potential beneficiaries in the client family ‘sphere’ and the need for immediate cash at the time of death. When it comes to the claim, how will the adviser prepare the client’s family for the mandated processes that occur prior to payment?
Parental Income Replacement For Children’s Illnesses
The title of this article should be ‘Child trauma insurance: its uses and importance’, however, it seems that the words ‘child’ and ‘insurance’ in the same sentence causes some advisers to switch off for fear of acknowledging what is wrongfully seen as an immoral or manipulative concept. This perception has gained much traction and needs to be reversed. Child trauma insurance payouts have already served as the mainstay of many families, at a time when all the parents wanted to do was be with their child 24 hours/7 days, while maintaining a secure family household and keeping day-to-day living as normal as possible for the other family members. It is simply impossible to do this, pay the medical costs and earn a living at the same time.
Employing The Affordability Tools For Life Insurances: Part 3
Giving every client the appropriate information and advice so that they make sensible financial decisions in relation to their life insurance package is paramount. Throughout this decision‐making, an adviser’s responsibility is to ensure that ad hoc, uninformed choices by the client of benefit design and/or coverage are avoided. All products have available tools for tweaking cost; and cost does not always equate directly with affordability. This technical article was written by Sue Laing for Kaplan Education and reproduced with their kind permission.
Employing The Affordability Tools For Life Insurances: Part 2
One of the advice process essentials is to provide each client the appropriate information so they can make an informed decision regarding a life insurance package that best fits their immediate finances and for the short term of their current budget. Apart from choosing between agreed value benefits and indemnity benefits in income protection, the next most common income protection tool is adopting a longer waiting period to reduce cost and create affordability. As with all compromises regarding the “best” design, there are risks and outcomes which must be communicated to the client. This technical article was written by Sue Laing for Kaplan Education and reproduced with their kind permission.
Employing The Affordability Tools For Life Insurances: Part 1
It is a rare client who takes up the “best of the best” when it comes to their protection package of life insurance products. After a thorough discovery process, an analysis of the funding needs and appropriate policy ownership structures, the next part of the “estate planning” journey is to work through the affordability strategy — often a dilemma for both adviser and client. This technical article was written by Sue Laing for Kaplan Education and reproduced with their kind permission.


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