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Crash! Bang! Broke?

We have all read about Daniel Andrews falling down the stairs and having broken ribs and fractured vertebrae and it looks like he will be out of action for a considerable period. It really highlights that accidents can happen at any time to anyone no matter who they are or what they do.

Given my line of work, this naturally gets me thinking about his insurance (an occupational habit of mine) and what he may or may not have in place.

So let’s use Mr Andrews as a bit of a case study*, to see how insurance policies play out in the real world.

If we assume that Mr Andrews has an Income Protection Policy and that he had a 90-day waiting period; this would mean that he won’t get any benefits for the first 90 days, so would have to fund this period himself and obviously use up any sick leave entitlements he might have.

However, if Mr Andrews had a policy that included additional ancillary benefits – like that of many of our Ashfords clients – he could also have had the following financial support and received payments within the 90-day waiting period.

Some of these additional ancillary benefits could include:

Rehabilitation Benefits ­ the insurance company would reimburse the cost of necessary equipment as well as necessary rehabilitation costs.

Specific Injury Benefit – in this case, a fracture of the vertebrae, he would receive a lump sum equivalent to three times his monthly sum insured. If say he was on $200,000 p/a, this could mean a lump sum payment of more than $37,000.

Bed Confinement Benefit—the insurer would pay 1/30th of his monthly benefit for each day that he is confined to bed.

Family Support and Home Care Benefits—depending on the situation, benefits could also be paid to assist his family with the costs of everyday care.

In addition to the above, he would also be entitled to claim monthly benefits that would commence after the waiting period has ended. This could be paid up until he has resumed work on a full-time basis and in a worst-case scenario, could be paid until the age of 65.


Situations where people are injured and lose their ability to earn an income (either temporarily or permanently) are more common than many people realise. Therefore, I wanted to share this case study, which highlights the importance of having the right solution in place and shows how it can benefit people in a practical way in their time of need.

If you would like to discuss your personal situation or assess your current coverage, please contact me and I’d be happy to work with you to find the right insurance solution to meet your needs.

Tim Kay


* Please note, Daniel Andrews is not a client of Ashfords and his case has been used for illustrative purposes only.


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What’s this new tax:

On 20 March 2024, the Victorian State Government introduced the Commercial and Industrial Property Tax Reform Bill 2024 ( The Bill is expected to become law and to take effect from 1 July 2024.

The Victorian Government, as announced in the 2023-24 Budget,  is progressively abolishing stamp duty on commercial and industrial property and replacing it with an annual tax.

The annual tax, to be known as the Commercial and Industrial Property Tax (CIPT), will be set at 1% of the property’s unimproved land value.

The tax will replace land transfer duty (stamp duty) that is currently payable on the improved value of the land when you purchase or acquire a commercial or industrial property in Victoria.

The new tax system will start to apply to commercial and industrial property if the property is transacted on or after 1 July 2024.


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