Your Wealth Team in Port Melbourne, Victoria | Local business
Your Wealth Team
Locality: Port Melbourne, Victoria
Phone: +61 3 8672 8689
Address: Suite 18, 574 Plummer Street 3207 Port Melbourne, VIC, Australia
Website: http://www.yourwealthteam.com.au
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17.01.2022 Within this month's update, we share with you a snapshot of economic occurrences nationally and from around the globe. We hope you find this month’s economic update as informative as always. Click the link below to learn more:
12.01.2022 Your job or income circumstances have changed: Income protection insurance As a general rule, an Income Protection policy covers you if you are unable to work due to illness or injury not because work has stopped due to COVID-19 or other reasons. There are a limited number of policies in the market that may have a redundancy clause which may pay you an amount of cover for up to 3 months.... Some polices have Involuntary Unemployment clauses that will either stop the insurance premiums for 3 6 months (so you can retain the cover without the cost) or some help you cover mortgage payments in certain circumstances. You can check the Product Disclosure Statement for your policy and search for Unemployment or Redundancy to find out more. There may be an option to freeze your insurance premiums. Please refer to our section on Managing expenses as this is one of the options discussed. To learn more you can visit our website: https://yourwealthteam.com.au/ Twitter: @YourWealthTeam Instagram: @your.wealth.team
03.01.2022 Seek JobSeeker support If you have lost your job, been stood down or your income has fallen below a certain level, you may be eligible for support from the Government via the JobSeeker support package. Alternatively, if you were a full time, part time or long-term casual (over 12 months) employee, contact your employer to check whether they have registered, or intend to register, for the JobKeeper payment. If they are registered or intending to register, then they will be ab...le to keep you employed and continue paying you a wage of at least $1,500 per fortnight. Please refer to our Government Assistance section for more information. To learn more you can visit our website: https://yourwealthteam.com.au/ Twitter: @YourWealthTeam Instagram: @your.wealth.team
03.01.2022 What are my mortgage options? If your personal or business income has been impacted the banks are offering options to provide mortgage relief. The earlier you seek help, the more options you will have. All lenders have options known as hardship variations. These may include changing the terms of your loan or temporarily pausing or reducing your repayments. The option most publicised at the moment is the opportunity to apply to pause or defer your mortgage repayments. Whil...e this may be an immediate and effective way to obtain short term cashflow relief, it is important to understand that interest will accumulate as normal during the repayment holiday period. To learn more you can visit our website: https://yourwealthteam.com.au/ Twitter: @YourWealthTeam Instagram: @your.wealth.team
