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None - waste of money.
Re life, if I die, who cares.
You wife or partner might care if you die and leave a debt which means they have to sell your investments. Even if you have no investments, I'm sure someone would care
Re income, if I was out of a job, I'm sure I'd survive. Not that I plan to be on a job for long any way.
Do you have to pay a mortgage or pay rent? Feed yourself and/or a family?
Re disability, money's the least if my concern if there was a disability.
Actually, money would be a major concern. The other problem might not be fixable or could mean big spending on wheelchair access or similar. How would you pay for that. Who would pay the mortgage and feed you and/or your family?
PS: insurance is a rip off in this country I just found out, then again what isn't...
11k per annum is insane!
I am in my mid forties and pay $67/mth ($804) for trauma and death cover is in my super.
I also am covered for 5k per month benefit.
Try Tower Insurance they offer competitive income protection/trauma cover.
I'll definitely look into it thanks Sash.
am I missing something about income insurance from a super fund vs income insurance from another company? is there a difference?
Does it mean we need to do a new ‘underwriting’ each time we review? Isn’t, generally, our health is going to get worse over time which would increase the premium?The new FOFA (Future Of Financial Advice) rules which are being implemented include provisions for financial advisors to review your needs at least every 2 years.
Re life, if I die, who cares.
Re income, if I was out of a job, I'm sure I'd survive. Not that I plan to be on a job for long any way.
Re disability, money's the least if my concern if there was a disability.
PS: insurance is a rip off in this country I just found out, then again what isn't...
I noticed that there is a bit of change when you hit 90 days… but nothing significant after that say 6 months or slightly more.look at the policy commencing after 90 days…
Outside super is tax deductable.am I missing something about income insurance from a super fund vs income insurance from another company? is there a difference?
it you take insurance now, with a level premium, you'll find it's much cheaper over the course of your life. Insurance tends to get very expensive as you get older. A level premium will lock in the cost whilst you're young and it's still cheap.