Income protection - If you were ill for months or years how could you pay the bills?

More than likely you've heard of income protection insurance. A lot of Australians have, but feel that if they're going to spend money on insurance, they'd rather protect their car, house, life and health.
The trouble with this is that people do get seriously ill and find themselves out of work for months, years, even permanently. Unfortunately, life insurance can't help, and even top level health insurance only covers some of the medical bills in the short-term.

Thousands of Australians risk sliding into poverty

In 2008, the Australian Bureau of Statistics records show 7,624 Australians couldn't work (1) and relied on sickness allowance - if they have a partner, that's just $205.75 each per week (2).

With our cost of living now amongst the highest in the world, this can turn into a nightmare for the 69% of Australians who don't have any personal income protection insurance (3).

With no money coming in, they struggle to put food on the table, cloth the family and pay the basic bills - let alone keep up with the car repayments and average mortgage of $367,000 (4).

Should we protect our biggest asset first?

J-Lo's booty ($300 million), Mariah's legs ($1 billion) and The Boss's voice ($31 million) aside, being able to earn a living is the most valuable asset most of us will ever have. If you make $80,000 per annum now, it means you'll earn more than $2.6 million over the next 20 years (allowing for inflation).

And while there seems to be an insurance to cover just about anything these days - including alien abduction - income protection insurance is a smart and inexpensive way to ensure that you and your family don't have to worry about sliding into poverty if you get sick or injured.

How much does income protection insurance cost?

Here's an example of how cost-effective it is for a healthy, 40yo, non-smoking male working in an office:

• Earning the average wage of $1,248.20 per week (5) 
• Cost $62.47 per month (6)

If he gets sick or injured:

• Insurer pays him 75% of his income, or $1,014.00 per week
• Paid until he is well enough to return to work or age 65.

(The reason the benefit is not 100% is so that there's still an incentive to get well and back into a contributing role in society.)

Ways to pay and tax benefits if buying through an advisor

You can get Income Protection through an industry superannuation fund by purchasing additional units of cover, or via a life insurance adviser.

One of the biggest benefits of buying income protection outside your superannuation, is that it becomes a tax deductible cost , which significantly reduces its impact on your household budget.

Waiting and benefit periods can be adapted to your needs. And premiums can be paid monthly, quarterly or yearly.

The most precious benefit of all

Of course, whichever way you go, the irreplaceable benefit is peace of mind for the rest of your life knowing that if you're unlucky enough to be struck down with illness you and your family can maintain your current lifestyle while you're on the road to recovery. Even months and years after sick leave and health insurance have been exhausted and there's no salary coming in.

Like to find out more about Income Protection?

Here at Zenith, we've recently partnered with MBS Insurance who are Authorised Representatives of Lonsdale Financial Services (ASIC Authorised Representative Number 303212).

Their licensed insurance brokers can help you with:

• expert advice on income protection
• ongoing protection portfolio management support during claims.

If you'd like to find out more, contact us here at Zenith and we'll put you in touch with the best person.

[1]ABS 1301.0 2008 Year Book” Income and community support. Accessed 28 January 2010.

[2] www.centrelink.gov.au accessed 28 January 2010

[3] WWW.Lifewise.org.au TNS/IFSA Investigating Income Protection Insurance in Australia July 2006 accessed 28 Jan 2010

[4] AFGonline.com.au report dated 3/12/09 accessed 5/1/10

[5] ABS 6302.0 Average weekly earnings Australia. August 2009. Accessed 28/1/01

[6] Quote provided by AIA Australia April 2010

Quotation figures as at 23 April 2010 based the following:

Male, aged 40, non-smoker

White collar duties
Income Protection
Indemnity Value
Benefit Period – to age 65
Waiting period – 60 days
Benefit Indexation not included
Claims Escalation not included

Please consult tax and financial professional to obtain appropriate advice

For further details click here : Zenith Finance | Financing For Business

Construction Equipment Finance

Need a loan to buy or lease heavy construction equipment such as earthmovers, excavators and cranes?

When you're business could be investing anywhere from $10,000 to $1 million + for a single machine, you want a finance broker who understands your industry and can offer you much more than low rates alone.

We're experts in construction equipment finance

For many years, Zenith Finance has been designing tailor-made finance packages for businesses buying construction and earthmoving equipment in Sydney and around Australia.

To discuss your own equipment finance needs contact our expert team on 1300 288 874 or apply online today.

Construction equipment we can finance for you

We can help you buy or lease:

• earthmovers
• excavators
• cranes   

 

We move heaven and earth to get you the right deal

Our construction equipment expert will come to your business or work site to learn about your requirements. We'll then negotiate with banks and other lenders on your behalf and a create finance plan options that offer you:

• the best tax and GST advantages
• easy to manage cash flow
• flexible payment options
• and, yes, a low interest rate too.

You choose the one that works best for you and leave all the leg and paper work to us.

Like to discuss financing for your construction equipment?

Contact us in Sydney on 1300 288 874 or apply online today

Or learn more about the different finance packages you can choose from:

• Commercial hire purchase
• Chattel Mortgage
• Finance lease
• Operating lease and rental

- See more at : Zenith Finance | Plant & Equipment Finance

My business page is up! Take a look.

My business page is up! Take a look.

Dental Equipment Finance

Are you a dentist, dental hygienist, orthodontic surgeon or cosmetic dentistry clinic looking for smart options to finance your dental equipment?

At Zenith Finance we specialise in helping dental and orthodontic practices, clinics and centres acquire the equipment you need to successfully start or grow your dental business.

Dental equipment we can help you purchase or lease

Just some of the equipment our financing experts have financed for dental businesses - and can do the same for you - include:

• Air compressors
• Autoclaves
• Dentist chairs
• Dental hygiene systems
• Dental imaging systems
• Dental lights
• Dental milling machines
• Dental technician equipment
• Dental x-ray equipment
• Lasers
• Nitrous-oxide systems
• Orthodontic equipment
• Vacuum pumps
• Dental fitouts, furniture, computers
• and many more.

Why finance your dental equipment?

With a finance, loan or lease package tailored to your needs, you can do things like:

• finance up to 100% of the cost
• avoid making large upfront payments and keep cash for other needs
• arrange repayments to suit your cash flow
• ensure you other business and personal assets are kept secure
• acquire the equipment before it's you've paid for it
• upgrade your dental equipment whenever you need to
• receive 100% tax deductions and GST benefits. 

 Why talk to Zenith Finance about your dental equipment finance?

• Years of dental equipment financing experience
• We source and package best financing option for you 
• We can meet at your office, our office, or over the phone
• Friendly, helpful one-on-one expert service. 

Contact us today

Call us in Sydney on 1300 288 874 to speak with a Zenith Finance medical equipment finance expert.

 Learn about our medical equipment loan options

• Medical equipment commercial hire purchase
• Medical equipment chattel mortgage
• Medical equipment finance lease
• Medical equipment operating lease and rental 

 
- See more at  : Zenith Finance |  Dental Equipment Finance

Medical Equipment Finance

Low rate specialist medical financing - plus smart tax, GST and other benefits

At Zenith, we find, arrange and tailor medical equipment finance for solo practitioners, medium sized practices, medical centres and hospitals in Sydney and around Australia.

How can we help you?

Medical equipment we can finance for you

We can help you buy or lease:

• medical systems
• dental equipment
• surgical equipment

Call 1300 288 874 to discuss your medical equipment needs or apply online today.

Or meet the Zenith Finance team.

Get a thorough examination of your options

We specialise in medical equipment financing – and understand each medical business has unique needs and circumstances. So we know how to dissect the rates from different institutions and negotiate a deal on the one that best suits you.

We’ll also walk you through our different finance products and clearly explain the:

• tax and GST advantages
• how much you pay for different length terms
• flexible payment options
• how to best manage your cash flow

You choose the one that works best for you and leave all the leg and paper work to us.

Like to discuss financing for your medical equipment?

Contact us in Sydney on 1300 288 874 or apply online today.

Or learn more about the different medical finance packages you can choose from:

• Medical equipment commercial hire purchase 
• Medical equipment chattel mortgage 
• Medical equipment finance lease 
• Medical equipment operating lease and rental  

- See more at : Zenith Finance | Financing and Insurance for Business

Commercial Property Finance

Are looking to invest in a commercial property:

 that you rent out to tenants?
 where you set up your own office?
 
If you have a good credit history, the team at Zenith Finance can help make you goal a reality.




Contact us in Sydney today on 1300 288 874 to speak with one of our commercial property experts.

Tailor-made commercial property loans

Whether we come to you, or you come to us, we'll listen, learn and discuss how different finance plans might fit your requirements. This could include things like repayment options, tax and GST advantages and working around your business structure.

If you like what you hear, we contact banks and other lenders to secure the lowest rate of interest on your behalf.

We’ll put together the right loan and benefits for you

Just some of the finance options we can offer you include:

• Loan terms up to 15 years
• Fixed or variable rate options – always know what you owe or pay your loan off sooner
• Up to 75% loan to value ratios – get a loan for up to 75% of the property value.
• Business overdraft facilities – extra money against your mortgage when you need it
• Commercial bill facilities – when you need a big injection of cash for a short period
• Complete commercial banking facilities 
• Solutions for retail, industrial and commercial strata zonings

 

Like to talk to someone about commercial property financing?

 

Contact us on 1300 288 874 or apply online today

- See more at : Zenith Finance | Plant & Equipment Finance

Is your business at the risk of "destruction"?

Is your industry experiencing long term downtrend which could suddenly turn into a destructive whirlwind? Look at print media as a cautionary tale 

What do the following names have in common? –Larry Page, Segei Brin, Mark Zuckerberg; Reid Hoffman? They are successful digital media entrepreneurs – the first two as founders of Google, the second a co founder of Facebook and the third, the founder of LinkedIn. They are kingpins in their respective digital and social medic space and they are the new ‘establishment’ of corporate America. There’s a not so subtle lesson for all business owners here: they were all still at school 15 years ago.

The point being that some industries are being destroyed ‘as we speak’.  In the world of media and publishing old business models are not being eroded they’re being destroyed. The Sydney Morning Herald and the venerable The Age have seen their newsprint papers suffer 18 percent declines (in sales) in just 12 months (to end December). That probably means about a 25% decline in top line revenues. Few business models could sustain that kind of decline. The rules are being re-written in real time.

Old business models

There are manifold effects of the destruction of old business models – apart from the obvious ‘losses”. In media, the convergence of technologies and media has led to an explosion of start-ups because first of all it is much easier to start a business today online than ever before and second because convergence itself is creating opportunities which even a year or two or go were not even on the radar. And speed of convergence shows no sign of letting up any time soon. Indeed recent data suggest that Australian broadband users will see bandwidth and speeds multiply 10-fold or more over the next few years, once again booting up convergence of technology and media.

This would resonate for experts like Clayton Christensen who have written scholarly works on why innovation often catches old-technology industries off-guard.

Christensen literally wrote the book on disruption, so it’s worth paying attention to him when he talks about where the disruption fuelled by the web is going to strike next. The Harvard business professor and author of The Innovator’s Dilemma notes that some industries that are “either in a state of disruptive crisis or will be soon,” and the professor has said also that “Journalism, certainly, and publishing broadly. Anything supported by advertising. That all of this is being disrupted is now beyond question.” What are the clues that precede “destruction”:

• Creative destruction occurs when something new kills something older
• Some industries will take longer but most will be affected by the web

Print media is one category but personal computers are another great example. The industry, led by Microsoft and Intel, destroyed many mainframe computer companies, but in doing so, entrepreneurs created one of the most important inventions of this century.   

Christensen goes on to describe what has happened to the newspaper and traditional media business; where he has said that many newspapers were lulled into a false sense of security and then “very quickly, all of a sudden, you go off the cliff.”

Business decision makers should pinch themselves every day to ensure they remain awake to technological shifts and their potential impacts on their industry.

See More: http://www.zenithfinance.com.au/zenith-finance-blog/is_your_business_at_the_risk_of_destruction