Life Insurance for Chartered Financial Analyst Charterholders
Protecting the professionals who manage our investment portfolios.
With daily professional challenges including global economic uncertainty, managing investment risks, and regulatory compliance, Chartered Financial Analyst Charterholders often overlook the protection of their most important asset: themselves.
However, as one of the professions insured by PPS Mutual, who are the only Life Insurance provider in Australia that currently offers life insurance products with a profit share and who distributes the profit to its Members, Chartered Financial Analyst Charterholders are eligible to apply for PPS Mutual Professionals Choice. That means peace of mind for you, your family, and your business.
The right selection of Income Protection, Trauma, Total & Permanent Disablement and Business Expenses insurance means a Chartered Financial Analyst Charterholder’s financial responsibilities can still be met even if they can no longer work due to injury or illness. This could include debts such as a mortgage, medical expenses, or the fixed costs of running a practice. That means there’s much less financial burden on the family, business, and the individual themselves if life takes an unexpected turn.
Life insurance is often used as an umbrella term to describe lots of different types of personal insurance. Some offer financial help during a temporary setback, while others pay a big lump sum following a life-altering event.
Here is a breakdown of the types of life insurance covers that can work together to provide financial security if you are injured or become too sick to work:
Income Protection
Income protection monthly payments are made to you and your family if you are no longer able to earn an income because of illness or injury.
Total & Permanent Disability
Total and permanent disability pays a lump sum if you are no longer able to work due to an injury or illness.
Business Expenses
Business expenses can help cover staff wages, rent, equipment, and any other fixed costs associated with running a medical practice/ business if illness or injury prevents you from working for a while.
Life Cover
Life cover if you die or become terminally ill, your family will be looked after with a lump sum paid to your estate or your beneficiaries. This can be used to cover family expenses such as a mortgage, or ongoing medical care.
Trauma Cover
Trauma Cover pays a benefit if you’re diagnosed with certain critical medical conditions.
A comprehensive selection of life insurance covers can provide a safety net for a Chartered Financial Analyst Charterholder and their family – for example, Income Protection cover can help avoid financial stress if a regular income is no longer available due to illness or injury.
Chartered Financial Analyst Charterholders who take out their life insurance policy via an SMSF (self-managed super fund) may also access tax benefits depending on their circumstances. It may allow Members to reduce their out-of-pocket personal Income Protection premium costs.
The amount of life insurance taken out will depend on individual circumstances, however, the nature of a Chartered Financial Analyst Charterholder’s working environment makes a comprehensive policy tailored specifically to the needs of professionals a wise choice.
To decide on the appropriate level of cover for you, it’s advisable to seek the help of a professional financial adviser.
When you join PPS Mutual, you get exclusive access to a unique and tailor-made portfolio of insurance benefits as part of our Professionals Choice product – created with the specific protection needs of Australian professionals in mind, including Chartered Financial Analyst Charterholders.
Furthermore, through our unique mutuality model, you will be entitled to a share of our long term profits.
Members of PPS Mutual will be entitled to a share in the profits of the Professionals Choice product. PPS Mutual Professionals Choice is the only product to offer this feature in the Australian Insurance market.
Being exclusively for professionals we are able to offer the option of having benefits increase in line with your salary, based on increases in our Professional Earnings Index or inflation, whichever is greater.
You can also increase your cover without having to provide further medical evidence when certain career events occur such as becoming a partner or starting in private practice
A flexible premium structure provides for both a variable age-stepped and variable premium structure for the one insurance type, allowing you to tailor your cover to benefit from the advantages of both premium structures.
Premiums for any increased cover, from the application of the Indexation for the Professionals Benefit, is based on your age at the date of commencement of your cover and not your age at the time the indexation is applied.
The plan ownership may be transferred at any time with no underwriting.