Insurance costs (life, TPD, income protection)

[Harriet]

Remember that insurance is a financial product and so is peddled by financial planners. It is unlikely that you will get unbiased advice in relation to your SMSF since that is the golden goose for commissions. You are out there on your own so better do your homework.

This is probably the best advice of all. Thanks.

 

[s0805]

I've been reading this in (Ref: 1st Question) on how condition of release will play part
on insurance payouts from super. Be careful changing the super to make sure you are not losing out on your existing insurance from super....
http://www.theage.com.au/money/supe...g-sold-cover-i-dont-need-20140808-101rbp.html

I've been planning to organise our insurance needs but getting nowhere. Analysis Paralysis....anyone...I think it's better to have all of the insurance outside of super now atleast in this case I'll know it will be accessed and passed on as per my instructions....For that you'll have to pay price for it...

 

[Mr. Fabulous]

This is probably the best advice of all. Thanks.

It's really not, actually. In reality it's pretty terrible advice. A good adviser will help you and provide far more value than you pay them. Painting all advisers with one brush is stupid.

Besides that, what's the deal with attacking advisers getting paid commissions for the insurance they write? Are they supposed to provide the service without getting paid? The nerve of them expecting something in return!