Our November newsletter contains some great info, so if you have a spare couple of minutes I highly recommend having a quick read through.

We have some information on the fantastic concept that is Movember, along with some information on one of the causes that Movember supports - prostate cancer.

I've also detailed some facts abount income protection that could be worth many thousands of dollars to you in the event of a claim. If you have income protection through any other broker, you HAVE to read this!

• Movember - Supporting men's health issues
• All income protection policies are not the same!
• Our office has moved

Movember - Supporting men's health issues

Movember is the month formally known as November. All over Australia men will be sprouting moustaches to help raise money for men's health issues including prostate cancer and depression.

Personally I have participated in Movember three times now, and even though my mo is extremely dodgy I still get into it every year. I believe strongly in supporting these causes, and I hope you guys will too.

Prostate cancer is a terrible disease, and the stats below are downright scary.

• Each year in Australia close to 3,300 men die of prostate cancer - equal to the number of women who die from breast cancer annually.
• Around 20,000 new cases are diagnosed in Australia every year.
• Each day about 32 men learn news that they have prostate cancer - tragically one man every three hours will lose his battle against this insidious disease.
• One in 9 men in Australia will develop prostate cancer in their lifetime.

Whilst prostate cancer can be successfully treated if caught soon enough, the financial costs of treatment can be considerable, especially if you can't be out there earning a living whilst you're going through the fight of your life.

Insurance can't protect you from prostate cancer, but it can make life a lot easier when going through a crisis. Instead of worrying about how the next mortgage payment will be made, you can concentrate 100% on your recovery and your family without worrying about financial matters.

The money from your insurance can also go towards paying for the best medical treatment available, that you otherwise may not have been able to afford. Don't be fooled into thinking your private health care will cover all the costs.

To find out more about Movember and get involved, check out their website at movember.com. You can also find out more about prostate cancer at prostate.org.au and men's depression at beyondblue.org.au.

All income protection policies are not the same!

I speak to a lot of tradies everyday about their income protection, and often I hear things like "but I can get the same cover for $10 a month cheaper through another broker".

To someone not involved in the insurance industry, it's easy to fall into this trap. If one broker quotes you on a policy which covers you for $5,000 a month with a 30 day waiting period and a 2 year benefit period, you would probably think that the policy will be the same whoever you go through.

But the truth is FAR from that!

Each insurer has different ways of assessing when a claim will be paid, and the difference can be worth thousands of dollars to you.

Let's take Mark as an example. Mark is a carpenter who employs one apprentice and has another young subbie working with him.

Mark broke his arm whilst out riding his trail bike. Due to complications with his arm, it took three months before he could return to work fulltime.

Here are the possible outcomes, comparing one policy with another:

Company 1 Upon providing xrays and a brief medical report confirming the break to the insurer, Mark received his first month's benefit upfront with no waiting period. Mark's policy then allowed him to work for up to 10 hours per week without affecting his claim. This allowed him to spend 2 hours a day on-site to guide his subbie and apprentice. Without Mark's 2 hours on-site every day, his apprentice and young subbie wouldn't have been able to continue working. Mark continued in this manner for 3 months until his arm was fully healed and he could return to work fulltime. His insurance kept paying him each month during this period.

Company 2 Mark had to wait 30 days before becoming eligible for a claim, and a further month before receiving his first claim payment. Mark's policy would not allow him to spend any time working whilst on claim. He was forced to make the choice between not working at all, which would mean his apprentice and young subbie could not continue, or returning to work and receiving no benefits from his insurance. Whichever way Mark went, he was going to lose out.

Both of the policies detailed above look exactly the same at first glance. There are no extra options involved, they are both standard policies. It is only when you read deep into the PDS (Product Disclosure Statement) that you can tell the difference. And to be honest, a lot of people don't understand those documents, or even read them for that matter!

If you want to save $10 or $20 a month on your insurance, by all means go with another broker who is recommending a cheap policy that makes an "easy sale" for them. But if you want a good quality policy that will actually benefit you when you need to make a claim, then you can rely on Trade Risk to recommend the right policy for you.

And really, what is $20 a month (fully tax-deductible) worth to you? It's barely enough for a six-pack of imported beer! You will be absolutely kicking yourself when you need to make a claim and discover that you went with company 2 rather than company 1, all for the sake of a few bucks a week.

If you have your income protection through another broker and would like to find out whether or not it's any good, give me a call on 0439 869 682 or email shane@traderisk.com.au and I'll be more than happy to talk with you.

Our office has moved

As of this week the Trade Risk office has moved to a new home. We've waved goodbye to Clayfield and setup shop in Albany Creek.

We're around 25 minutes north of the Brisbane CBD, so if you'd like to drop in for a chat give me call on 0439 869 682 to arrange a time.

At Trade Risk you never deal with a call centre, you deal with me. I can assure you that our real office looks nothing like that!

The new office will be undergoing some minor renovations over the next couple of weeks, and yes I will be doing all of the work myself.

Our mailing address will be staying the same at this stage, and a new office phone number will be available within the next few days. In the meantime, best to call my mobile if you need any assistance with your insurance.

Get Connected

Become a fan of Trade Risk on Facebook to get all the latest tradie and insurance related news. Simply visit our Facebook page and click on the 'like' button.

Our Mates

Here are the latest offers from our mates:

Transquip Direct - Offering free metro deliveries to all TradeInsure clients! Contact me if you're interested and I'll provide you with the promo code. Click here to check out their online catalogue.

And remember to check out our other partners:

Building Industry Online - An innovative solution for the building industry, from tender through to live construction.

BlueWho.com.au - Sign up to list your trades business today.

Trade Chaser - A website dedicated to promoting quality local trade businesses.

Website for the Trades - A specialist trades website offering classifieds, directories, jobs and more.

Equita Financial - Our financial services partner for superannuation and investment.

That's all from us. Remember if you'd like to discuss any matters relating to your insurance needs please call our office on 1800 744 482 or contact me directly on 0439 869 682.

Cheers

Shane Moore
Financial Adviser & Director

Call us today on 1800 744 482 or get a free online quote

Information on this website should be seen as general advice only, as it does not take into account your personal circumstances. You should not act upon any information on this website without first consulting a qualified financial adviser or insurance broker
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