Self employed consultants and home office workers need to protect themselves financially, according to Shaun Williams, general manager – group business development, Aviva Australia.
Self employed consultants and home office workers need to protect themselves financially, according to Shaun Williams, general manager – group business development, Aviva Australia.
Mr Williams said that these workers are usually outside traditional workplace benefits and often do not appreciate that support systems designed to protect the financial position of employees usually do not cover them. "As a result, they need to be vigilant about securing their own financial position," he said.
"Employees of larger companies are provided with routine access to schemes which enable them to easily organise their superannuation, life insurance and income protection," Mr Williams said.
"For workers who don’t have the support of a large company, superannuation, life insurance and income protection are often taken for granted or ignored – until a catastrophe occurs," he said.
"General perceptions of working from home are a long way off the reality. With more people turning to home-working to address their work-life balance it is essential that they understand it's not always an easy option, and sometimes the first important thing overlooked or delayed is financial protection," Mr Williams said.
Mr Williams said his advice applied particularly to women who work at home due to child rearing responsibilities. "Home-working is often a convenient way for new mums to step back into the workforce while juggling family responsibilities from home," he added.
"The bottom line is to seek independent advice from a financial adviser to ensure you are protecting yourself," he said.
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Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator and Norwich Union Life Australia Ltd. Portfolio Partners, the Australian funds management arm of Aviva plc, is a sister company. Through these companies we provide products and services in the areas of wealth creation, wealth management and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Aviva Australia is part of Aviva plc, the world’s seventh largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
- Aviva is the world’s seventh-largest insurance group and the biggest in the UK. It is a leading provider of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of A$68.32 billion, and more than A$488 billion of assets under management (as at 1 July 2003). The group has more than 59,000 employees and 25 million customers worldwide.
- The information in this document reflects our understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information is not, nor is it intended to be, comprehensive or a substitute for professional advice on specific circumstances. The securities advice or information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of the advice above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the advice is appropriate in the light of their particular investment needs, objectives and financial circumstances.
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