basically take:
life insurance
TPD
and income protection out within your superannuation.
not only is it generally a
"group" policy (which is awesome, as no need for individual medicals so existing ailments are automatically covered) as they use population statistics to work out premiums......
the premiums will be
MUCH less as the premiums are tax deductable to the super fund.
a super fund will also assist in processing the claim for you.
this is what im covered for
$250k death approx $1.50 a week
Income protection for 2 years, deferred period 3 months , benefit $4k month for $1.70 a week !!!TPD premiums covered under the IP policy above. (TPD means disability)
soooo cheap because its in superannuation enviroment.
If i was to get life insurance as a stand alone policy from a retail insurer Id be looking at $40 month
Income Protection would be around $100 a month
TPD would be additional $ also.
In my case, all would need medicals to be carried out, and all would have exclusions for existing or previous ailments within the last 2-5 years.
if your super doesnt offer what ive outlined there are plenty of other funds that do.
