Taking our pilot insurance on the road!

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Planner
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Taking our pilot insurance on the road!

Postby Planner » Thu May 30 2013, 23:45

Just a quick post to let forum members know that Country Wealth will be at the AAAA Convention on the Gold Coast from Monday next week. If any of you Ag pilots happen to be at the convention please come up and have a chat to at least make it look like I am busy! I will be in the area until Thursday if you want to catch up and discuss Life, Total and Permanent Disability and Trauma cover for pilots of all descriptions.

For those who don't know, we offer Life, TPD and Trauma cover to all pilots regardless of duties without premium loadings (i.e. white collar rates) and without occupational exclusions (yes, that includes mustering, firebombing, aerial application and offshore work).

For example, 40 year old non-smoking male will pay $653.16pa for $500,000 life and TPD cover. Add an extra $312.84pa for $100,000 of stand alone trauma-plus cover.
As with all Life and TPD cover, the premiums can be paid via superannuation to avoid any personal cash flow impact.

For more information just send me a PM and would be more than happy to catch up with anyone around the Gold Coast or on the drive back to Scone, NSW.

Thanks,
Michael.

Edited to insert comment re: super.
helidragon
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Re: Taking our pilot insurance on the road!

Postby helidragon » Fri May 31 2013, 02:35

I have recently taken cover with Michael at Country Wealth, and found him to be professional, knowledgeable and sorted my cover quickly. The quote was certainly a lot cheaper than i had been quoted elsewhere.

HD
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FerrariFlyer
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Re: Taking our pilot insurance on the road!

Postby FerrariFlyer » Fri May 31 2013, 02:58

I have been dealing with Michael for a only a short period of time and would highly recommend him for a range of financial items (as I have previously).

The restructuring of our super into a different product allowed us to allocate a small element of employer super contributions for additional life insurance which means you get the extra cover but don't need to part with money from your actual pay packet.

We have also just altered our super asset allocations and it was a lot easier and less painful than dealing with the super organisation direct.
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papillons
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Re: Taking our pilot insurance on the road!

Postby papillons » Fri May 31 2013, 03:13

Happy to thoroughly endorse the preceding endorsements!

Have dealt with Michael for some time now and he is like a breath of fresh air in a traditionally difficult area for helo pilots. No nonsense, deeply knowledgable, extremely accommodating and really putting a lot of time, energy and investment into opening up the possibilities for us.

If you've been hitting brick walls for years with regard to feasible cover, very well worth making contact IMHO.
¡Librame!
Beaver
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Re: Taking our pilot insurance on the road!

Postby Beaver » Fri May 31 2013, 11:16

Yep, cheers Michael. A straight talking bloke, easy to deal with. Offered a cheaper cover for the same benefits (+ some) as the other major players.

Cheers from Brett..
Robinsondog
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Re: Taking our pilot insurance on the road!

Postby Robinsondog » Fri May 31 2013, 20:12

Does anyone know anything about changes to workers comp costs? Was told recently of some hideous premium increases.
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Planner
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Re: Taking our pilot insurance on the road!

Postby Planner » Sun Jun 2 2013, 09:33

Robinsondog wrote:Does anyone know anything about changes to workers comp costs? Was told recently of some hideous premium increases.


I am not aware of any but that doesn't mean there isn't something in the wings.
zoomcage
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Re: Taking our pilot insurance on the road!

Postby zoomcage » Sun Jun 2 2013, 10:17

Hi Michael, do you offer income protection? If so, can you provide an indicative cost for a heli pilot on 100k.

Thanks.
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Planner
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Re: Taking our pilot insurance on the road!

Postby Planner » Sun Jun 2 2013, 10:25

zoomcage wrote:Hi Michael, do you offer income protection? If so, can you provide an indicative cost for a heli pilot on 100k.

Thanks.


Unfortunately I can't do income protection for any pilot (unless you work for a major airline with scheduled services). I have approached pretty much every Australian based insurer and none of them will entertain the idea of IP for you guys as yet. I do call and harass them occasionally to see if they have changed their minds! Wish I could provide it, it would be a killer product. The AFAP MBF might be your best bet.

If you have any other questions just send a PM.

Thanks,
Michael.
Crusty
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Re: Taking our pilot insurance on the road!

Postby Crusty » Sun Jun 2 2013, 11:14

Try and keep the Q&A in the public forum as much as possible ! Then we all learn a litte more instead of pm
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helothere
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Re: Taking our pilot insurance on the road!

Postby helothere » Sun Jun 2 2013, 11:15

I might add that Michael is also a sponsor of Bladeslapper, yet another reason to talk to him about your insurance needs :wink:
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Planner
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Re: Taking our pilot insurance on the road!

Postby Planner » Sun Jun 2 2013, 12:09

Crusty wrote:Try and keep the Q&A in the public forum as much as possible ! Then we all learn a litte more instead of pm


Apologies Crusty, was not sure if I was breaching any forum rules by continuing that conversation within the thread.
Happy to answer all and any questions!

Thanks,
Michael.
chopperaddict
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Re: Taking our pilot insurance on the road!

Postby chopperaddict » Thu Feb 6 2014, 09:52

I have given Michael a run for his money. Made him really sell it to me. which he has. He has answered every question I have put to him about all the loop holes/differences in the plans. We have worked through what plan, amount and payment frequency would work best for me to achieve the best result for the least input from me.
Thanks Michael for all your help

If you are just considering insurance, or know what you need, Michael will beat other quotes without pressure. He is unaware he was my best quote, AND the most helpful. Well worth a yarn.
ETL
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Re: Taking our pilot insurance on the road!

Postby ETL » Thu Feb 6 2014, 11:31

Hi Planner,

Is this sort of insurance tax deductible?

Cheers
ETL
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Re: Taking our pilot insurance on the road!

Postby Planner » Thu Feb 6 2014, 22:21

ETL wrote:Hi Planner,

Is this sort of insurance tax deductible?

Cheers
ETL


Hi ETL,

If the policy is taken out in your own name then it is not tax deductible as it is life, TPD and trauma insurance. Only income protection/LOL would be deductible in this structure.
However, if you have the cover owned by your superannuation fund it does become tax deductible. This can happen in 2 ways:

1. If you are an employee, you can have the policy owned by your super fund and you can salary sacrifice the premium as additional super contributions into your fund. This additional contribution is a pre-tax contribution and therefore fully tax deductible. This works even better the higher your marginal tax rate due to the low tax paid in super (15%).
2. If you are self-employed/contractor you can still contribute additional super contributions to cover the insurance premium but you will need to claim this in your tax return AND make sure you lodge the Notice of Deductiblilty form with the Tax Office prior to lodging your tax return. We do this for our clients because in my experience accountants stuff it up a fair proportion of the time and the dedcution will be disallowed. Unhappy client!

You do need to be careful not to exceed the deductible contribution caps however. This is $25,000 unless you were 59 as at 1 July 2013 in which case it is $35,000.

As a side note, you do not need to make additional contributions into your super fund if you do not want to or if cash flow does not allow. There are reasons for and against having super funds owning your policy and this will vary from client to client and very much depends on their individual situation. If the super fund owns the policy there is a possibility that tax can be payable upon claim of 31.5%. Some care needs to be taken.

Lastly, the above would only apply to our Life/TPD cover. Trauma cannot be owned by a retail super fund due to issues with accessing the cash in the event of a claim. This is why trauma is not offered by employer superannuation funds. If you have an SMSF you have until 30 June 2014 to take out trauma in the fund.

Hope this answers your question. Keep them coming! pop;
Regards,
Michael.
helicrewman
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Re: Taking our pilot insurance on the road!

Postby helicrewman » Sat Feb 8 2014, 08:43

Do you cover aircrewman?
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Planner
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Re: Taking our pilot insurance on the road!

Postby Planner » Sun Feb 9 2014, 22:26

helicrewman wrote:Do you cover aircrewman?


I have covered Aircrew in the past including paramedics. In fact, depending on what your duties are you can even get full income protection cover along with life, trauma and TPD and a wider choice of insurers. Aircrew tend to be assessed on a case by case nature so I cannot with any certainty say that all aircrew will qualify.

I am more than happy to run individual cases by my insurer panel if you want to get a feel for what they may offer. You can send me a PM of your duties and other personal details or give me a call.

Planner.
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Re: Taking our pilot insurance on the road!

Postby Hangerbout » Mon Feb 24 2014, 06:49

My recent experience with Michael Gillett of Country Wealth was exceptional.
He talked me thru the maze of Pilot Life Insurance for 50yrs + CPL (H).
I have used my superannuation fund to pay premiums which makes the pain of $1600 per year at little less.
Michael also arranged a discount on the premium for me.
I can’t recommend Michael highly enough for service and advice.
Give him a call and protect your family.

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