Insurance
Submitted by Shane O on Thu, 2015-03-26 21:59
We made the move to a smsf fund have had it for Al out a year, I kept a small amount in my other fund to cover
life insurance, income protection etc.
but that runs out after a year of no contributions, so we are in the market for insurance and want to close the industry fund and top up my own fund for the property being built.
Does anyone recommend any companies for this type of insurance, any pros and cons?
opsrey
Posts: 1200
Date Joined: 05/10/07
Go with the larger insurance groups.
Check who underwrites your current policies , but most importantly check the fine print and try not to over insure.
policy cover level is tricky, but careful consideration as to what your estate needs in the event of death will save many hundreds of dollars each year toward your retirement. Also income protection is a bit similar , waiting periods and cover length should be practical for your situation. Remember TPD should take over when income protection runs out .
Its a balance between saving for retirement and covering unlikely events.
Jsmolly
Posts: 187
Date Joined: 10/04/12
I use a mob Artisan Financial
I use a mob Artisan Financial in Subiaco, Ryan and Stephen, good advice and good guys.
Do not close your old funds until spoken to an advisor though as it may have imbedded benefits, found this out the hard way!!