Matt Ireland from our Financial Planning team writes about the importance of considering the right type of insurance for peace of mind, here’s a snapshot of his insight.

Is it time you had a look at life insurance?

Often the value of life insurance is difficult to understand. Life cover is a simple financial product that will pay your family a sum of money if you were to pass away. It can be hard to justify paying for life insurance as it’s ideally something that you will never have to use. However the security it provides can drastically improve the quality of life of your loved ones.

How does life insurance ownership work?

You can apply for life insurance both outside of super as well as within your super fund. Sometimes Super funds will automatically give members default cover. This is a basic level of cover that doesn’t require you to undergo any medical tests or health checks. These policies can be inexpensive and beneficial to some, however many have complex terms and conditions that you need to be aware of. You may also choose to apply for a customised level of cover and undergo a process called underwriting which involves medical checks and health questionnaires aimed at assessing the likelihood that you will make a claim on your insurance. These policies are often far more comprehensive however can sometimes result in extra charges or certain medical issues being excluded from the policy.

Total and Permanent Disablement (TPD) Insurance

TPD insurance is designed to help you meet one-off and ongoing living expenses if you were to become totally and permanently disabled. This cover can also assist in meeting additional medical costs associated with your condition. This cover can be difficult to claim upon unless you meet strict eligibility criteria. TPD cover needs to provide for you and your family in the event that you cannot ever work again and can be held inside or outside of super however the terms and definitions of each type of ownership can vary significantly.

Why you need Income Protection

Obtaining Income Protection is one of the most important financial considerations you will make. Many people who remain healthy throughout their working lives will never actually realise the benefits, however speak to anyone who has relied upon this cover and the message will be the same. Income Protection should be first and foremost on any financial checklist. We insure our cars so that we can drive to work and we insure our tools so that we can perform once there, but so few of us insure the actual source of income generation that matters the most. Ourselves.

What is Trauma insurance?

One of the lesser known insurances, Trauma cover provides you with a sum of money immediately upon being diagnosed with a specific illness or suffering a traumatic event. These conditions can range from different types of cancer, diseases or heart attacks. You are usually insured for a smaller sum of money when compared with life or TPD cover as Trauma is intended to cover the immediate medical expenses such as surgeries, home modifications or the purchase of mobility devices. It can be difficult to work out how much Trauma cover is enough and you need to take into account things such as your age, current insurance coverage and existing assets. Trauma is a very personalised type of insurance coverage that may be incredibly valuable depending on your situation.

For more detailed articles please visit our website or for advice specific to your situation contact one of our financial advisers for an obligation free conversation.


With a Federal Election this year, there are a lot of potential changes that could impact upon the tax landscape. While this can make it difficult to know what to do pre 30/6 here are a number of tax planning options still available:

Super contributions

The limit for deductible super contributions is still $25,000. This can be achieved via salary sacrifice contributions or a deductible personal contribution can be claimed by an individual. As always, the $25,000 contribution limit includes all super guarantee paid from your employer during the period 1/7/2018 and 30/6/2019 and the contribution must be received by your super fund before 30 June. For businesses looking to maximise deductions pre 30 June, any staff super contributions need to be paid to the fund before 30 June. Make sure that these funds are paid early enough so that they are processed by the clearing house in time.

Small business depreciation limits

The following limits apply for assets purchased and supplied ready for use by a small business; For businesses with a turnover up to $10 million they can claim an immediate write off for assets costing up to $30,000 purchased after 7.30pm on 2/4/2019 (they can also claim an immediate write off for assets costing up to $20,000 from 1/7/2018 to 28/1/2019 and $25,000 from 29/1/2019 and before 7.30pm on 2/4/2019). For businesses with a turnover from $10 million to $50 million they can also claim an immediate write off for assets costing up to $30,000 from 7.30pm on 2/4/2019.

If you have any tax planning questions, our advisers are here to help.

Major Changes To Impact Younger People’s Superannuation


Do any of these criteria apply to you or someone you know?

  • You have a super fund (or multiple funds) with a balance of less than $6,000?
  • You are under the age of 25?
  • You have not made a contribution to a super fund in your name in 13 months or more?

If so, the federal government has announced major changes that will affect the insurance you hold through super. For context, many super funds provide their members with default insurance cover without performing any health checks or underwriting. This can be incredibly beneficial for people working in dangerous jobs or those with prior health conditions who may not otherwise be able to obtain cover. Other funds allow members to go through underwriting health assessments to ensure that their policies are appropriate for their needs; a lengthy and potentially invasive process. Unfortunately, many young people don’t realise that they have insurance in their super fund until the ongoing insurance premiums have reduced the balance of a forgotten super account to zero.

So what are the changes?

The federal government has announced that as of 1 July 2019, all insurance coverage for people in the above categories will move to an opt-in basis rather than a default basis. This means that you will be required to inform your superannuation fund of your decision to retain any insurance coverage you may have. If you do not respond, your default cover will be cancelled and you will be uninsured. If any of the categories mentioned above apply to you or someone you know, it might be time to look into your super to determine the best course of action. We welcome you to book an obligation free meeting with a financial adviser to assist you in understanding the changes and the impact these may have on you and your family.


Great News! The 2019 Evolution Charity Cup reached its fundraising goal of $100,000 for the Mark Hughes Foundation….$100,237 to be exact! 16 corporate teams participated in the Surfest tag team event held at Dixon Park Beach on Friday 15 March taken out in a tight final by the talented team from Lake Macquarie City Council. The event was a huge success both in and out of the water with teams committing to fundraising in advance of the event with the added incentive of having pro surfing legend Tom Carroll surf for the team raising the highest amount. That honour was won for the second consecutive year by Kentan Machinery who raised a whopping $18,155.34. Thank you to all our amazing teams for their fundraising efforts and to Count Charitable Foundation for their generous donation. Stay tuned for some exciting news as to how the donation will be used by the Mark Hughes Foundation.

  • Kentan Machinery
  • Sanbah Surf Shop
  • Northrop Engineers
  • KCE
  • Shotters Lawyers
  • Lake Macquarie City Council
  • TSA Management
  • Arcbuild
  • Port Hunter Conveyors
  • Barker Ryan Stewart
  • McCloy Group
  • ADW Johnson
  • Doyle Partners
  • Bilbie Farady Harrison
  • Mark Hughes Foundation


How long have you been at Evolution?

I started working at Evolution in 2006 as a mortgage broker and then soon after my role evolved to include paraplanning where I helped develop financial planning strategies and write advice documents for the financial advisers whilst continuing to write mortgages and loans for our clients. This gave me a solid understanding of financial planning concepts and strategies, and allowed me to enjoy direct contact with our clients as I helped them to purchase their homes or investment properties.

What do you enjoy most about working at Evolution?

I’ve steadily progressed with my studies (I’m currently completing my Masters of Financial Planning) and career, and am now working 100% in financial planning. I am excited and passionate about being in this professional space right now which might sound slightly crazy considering the royal commission and many changes to the financial planning industry, but in any dark storm there is always a silver lining; renewal and growth of the industry, education reforms, stronger quality advice measures and ensuring the clients’ best interest are at the forefront of advice are all good things – no, great things - and I am lucky to be in a position where these things have always been pivotal to Evolution and my own personal compass. Working at Evolution has also given me exposure to many parts of the business. I’ve learned from many strong leaders and passionate advisers who have shared their knowledge and insights with me and I have gained a lot from their mentorship. This would have to be the biggest benefit to me from working at Evolution.

Tell us about your life outside Evolution?

When I’m not working, I’m spending time with husband and two beautiful children (Harry and Poppy). We are a busy little family and love getting out and about as much as we can. We enjoying all parts of Newcastle and Lake Macquarie. Needless to say, I understand the busy working family life balance.


“Excellent guidance and knowledge often exceeding expectations and results” MIKE G.


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