Whatever your current financial position is, wealth preservation is integral to protecting what you already have. It is not just about sustaining your current lifestyle but ensuring that your future generations can benefit from what you have created. At Wilson Pateras, we can guide you towards safeguarding your current wealth.
Understanding Wealth Preservation
Unlike wealth accumulation that focuses on increasing assets, wealth preservation strategies prioritise keeping current assets safe from potential losses. Understanding the key facets of what is involved in maintaining and safeguarding your wealth helps establish the framework for your entire financial strategy.
Wealth preservation can include the use of life insurance, total and permanent disability insurance, income protection and trauma insurance. These can protect your savings and income from any unexpected events that could be detrimental to your current assets. Effective wealth preservation can protect you and your family long-term.
Wealth Preservation Principles
Safeguarding your wealth is important for your future as well as your peace of mind. At Wilson Pateras, we prioritise wealth preservation through these key principles:
Planning for the Unexpected:
Life is full of unexpected events. Recognising this, we ensure that our clients are prepared for uncertainty. With a proactive approach, our team aims to be a step ahead in anticipating potential risks and recommending solutions to mitigate these risks.
Comprehensive Access to Premium Insurers:
We collaborate with a diverse range of leading insurance providers known for their comprehensive policies, tailored to meet the specific needs of individuals and businesses, ensuring that clients receive the most reliable protection available. With access to these insurers, we are able to offer flexible solutions and a seamless claims process, providing our clients peace of mind knowing they are well supported.
Bespoke Coverage Calculations:
Every individual and every family has unique circumstances. Our approach is not one-size-fits-all. We take the time to thoroughly understand your situation and calculate the most appropriate level of coverage needed in the event of illness or injury. This includes evaluating key factors such as income, debts, assets, family needs, and future expenses including education and retirement. It is not just about having insurance—it is about having the right insurance.
Streamlining the Process:
We value your time. Our team takes on the task of analysing the options, comparing policies, and securing an insurance option that offers you the best value without compromising on the coverage.
Adaptable to Inflation:
Insurance should adapt to inflation to ensure that your coverage remains sufficient as the cost of living and expenses rise over time. We can help review the value of your insurance coverage to ensure you are not underinsured in the event of a claim.
Diverse Range of Covers:
Wilson Pateras offers an array of insurance options to suit varied needs:
- Life Cover: Beyond the emotional toll, the loss of a loved one can bring financial challenges. Our Life Cover ensures that beneficiaries are financially supported, whether it is for clearing debts, covering funeral costs, or replacing a lost salary.
- Trauma Cover: Recovery from a traumatic event can be emotionally and financially daunting. Trauma Cover provides the necessary financial support during these times.
- TPD (Total and Permanent Disability) Cover: A TPD can alter life’s course dramatically. Our TPD Cover ensures you remain financially stable, allowing you to focus solely on adapting and healing.
- Income Protection: Your ability to earn is one of your most valuable assets. Should you need time off work due to an accident or illness, Income Protection can help you pay for your living expenses during this time.
The Importance of Tailored Advice and Regular Reviews
Tailored advice is invaluable to successful wealth preservation. Our personalised approach is complemented by regular reviews, ensuring strategies stay relevant and effective in an ever-evolving landscape.
To learn more about Wilson Pateras and our Wealth Preservation strategies, please contact us on 03 8419 9800 for more information or to speak to a financial advisor.
This content has been prepared by Wilson Pateras to further our commitment to proactive services and advice for our clients, by providing current information and events. Any advice is of a general nature only and does not take into account your personal objectives or financial situation. Before making any decision, you should consider your particular circumstances and whether the information is suitable to your needs including by seeking professional advice. You should also read any relevant disclosure documents. Whilst every effort has been made to verify the accuracy of this information, Wilson Pateras, its officers, employees and agents disclaim all liability, to the extent permissible by law, for any error, inaccuracy in, or omission from, the information contained above including any loss or damage suffered by any person directly or indirectly through relying on this information.
