Over the last week and a half, our fellow Australians in Queensland and New South Wales have been affected by bushfires, which have caused devastating losses and continue to burn. Our thoughts are with these families and communities.
We know that at times like this it’s important as a community to rally together and every little bit helps, so we commend a number of insurance providers who have activated Bushfire Assistance Packages. These packages will support policy holders who are directly affected by these disasters through premium waivers.
Who is eligible?
While different insurers may have specific criteria, as general rule they will consider premium waiver for people who:
live or have a business in a bushfire impacted postcode, and
have been directly impacted by the fires (e.g. are unable to operate their business, have lost income, lost their home, need temporary accommodation or are with emergency response teams).
How can our clients apply for the waiver?
If you have been directly impacted by the fires, please contact your adviser to find out if your insurance provider has offered assistance, and whether you are eligible.
Additional help and support
The Australian Government Disaster Recovery Payment (AGDRP) provides one-off financial assistance to eligible Australians adversely affected by the bushfires.
AGDRP is available for people who have been seriously injured, have lost their homes or whose homes have been directly damaged, or are the immediate family members of a person who has died, as a direct result of the bushfires. Below are a number of links to Federal and State Government Bushfire Relief Grants:
While every bit of financial help is needed, it’s just the tip of the iceberg of the challenges these communities will face over the coming days, weeks and months. The pressures the community are dealing with may also lead to depression and anxiety.
To this extent, there are additional resources and support services available, which can also help. We encourage individuals to work with support groups within their community or the Black Dog Institute, which works to understand, prevent and treat mental illness. It may be a good place to refer someone to if you feel they need that support. You can find out more, and contact the Black Dog Institute at www.blackdoginstitute.org.au
If you or anyone you know requires advice or would simply like a review of your financial situation, please call our office today to arrange an appointment on (07) 5574 0667.
Jump over and like our WFS Facebook page to keep up to date with all the latest happenings at WFS.
Wahlstrom Financial Services Pty Ltd, ABN 43 078 015 988, is a Corporate Authorised Representative of Millennium3 Financial Services Pty Ltd ABN 61 094 529 987 an Australian Financial Services Licensee number 244252. Millennium3 Financial Services Pty Ltd and Wahlstrom Financial Services Pty Ltd are not responsible for the advice given regarding lending. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider a Product Disclosure Statement. The views and opinions expressed within this letter are those of the author and do not necessarily reflect those of Millennium3 Financial Services Pty Ltd.