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Are You Entitled to Long Service Leave in the Mining Industry?

I often get asked about eligibility for long-service leave.
There seems to be a little bit of confusion surrounding this topic. 
Traditionally, long service leave applies to an employee who has been with the same employer for several years (typically 8-10).
Depending on the industry, an amount of leave is available after that time.  For example, some industries provide 1.3 weeks of long service leave for each completed year of service.After 10 years they are eligible for 13 weeks.
Of course, if you leave that employer prior to the 10 years, it’s unlikely any accrued amount will be paid out and in most cases, it’s not transferable to the next employer.
In the Coal Mining Industry, things are a little different.  In 1992, the Australian Government introduced the Coal Mining Industry (Long Service Leave) Administration Act.
It’s a complicated piece of legislation.However, the idea is to allow eligible employees to transport their accrued long-service leave from one employer to the next. 
Eligi…

Life Insurance for Every Life Stage

One of the biggest misconceptions around life insurance is that it's solely designed to provide a payout if you die. But life insurance is relevant at all stages of life. From your fancy-free 20s through your working life and into retirement, you will have different goals and priorities worth protecting.  Here we look at the types of cover you should consider at each age and stage.  20-30 years.  Partying, travelling, studying, working – for many, the first decade of adulthood means plenty of fun and not a whole lot of responsibility. As a result, you're more likely to test your limits on the sports field, on the slopes, or in the sea.  At this age it may not seem like you've got a lot to lose, but what about the loans you've taken out? That credit card bill you've racked up? The career you've been building? The mortgage you've just taken out with your fiancĂ©?  Life Insurance protects the future you're building, your partner and your family, who could face l…

What determines the cost of an insurance policy?

There are a number of factors that determine the cost of an insurance policy. A cheap life insurance or income protection insurance policy doesn’t necessarily mean it’s an inferior one, and by the same token, the most expensive policy may not be the best to suit your needs. The price of an insurance policy is generally a reflection of how the underwriter views the risk of you claiming on that policy. As each insurer will attribute their own measure of risk to each element of your lifestyle, personal habits and work situation, your overall risk profile can fluctuate between one insurer and another.  Assessing risk. One insurer can decide you are a greater risk than others, which directly impacts the cost of your policy.  The underwriter determines your overall risk by examining a number of factors, such as your age, gender, medical history, current health status, whether you are a smoker or non-smoker, your occupation, and your recreational activities.  Once you understand how many element…