Premium for IP, Life and TPD cover will vary according to your personal circumstances (age, bmi etc, debt level, occupation). You can't really compare yours to what someone else is paying. DH is a financial adviser (own business) and will compare premiums from all top companies for his clients. I would suggest you find someone similar rather than go with individual companies (banks are usually higher premium). There is no charge for this service. that way you know exactly what you are getting for your money (while someone else does all the research for you! )
Also, cover through super may be cheaper but the payout is usually for a limited period - usually for only 3yrs after the claim, compared to say age 60, 70, 75. It does pay to do your research. You also need to keep in mind exactly how much cover you should need to cover your needs - don't buy insurance without someone doing a risk analysis for you first. HTH.
This thread again ploise!! Nickle - How did you go?? What did you end up doing. I think we are going to get a risk assessment person out to do ours and work out the best thing for us. Would you need income protection til 65 though?? Our thoughts are if DH hurts himself at work, its covered under Work Cover, if it's in the car, it's TAC so it's anything else obviously at home or illnesses we are needing, so we would get it 1 month after he stops work for up to 2 years we think? So hard to know what to do!!
[QUOTE=Tanstar;3151903, if it's in the car, it's TAC [/QUOTE]
DP had an accident on his motorbike last year, it took quite some time for us to start getting TAC payments, i had to call the bank and get our mortgage payments lowered aswell as get some extra centrelink benefits and we STILL struggled... remember they don't pay your full wage, they only pay a portion of it.. so income protection would still be very beneficial.
It's something we need to look at but as DP qwas a bit on the heavier side we found it hard to get people to cover him
We better start looking again though.
but I have no info either
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This thread again ploise!! Nickle - How did you go?? What did you end up doing. I think we are going to get a risk assessment person out to do ours and work out the best thing for us. Would you need income protection til 65 though?? Our thoughts are if DH hurts himself at work, its covered under Work Cover, if it's in the car, it's TAC so it's anything else obviously at home or illnesses we are needing, so we would get it 1 month after he stops work for up to 2 years we think? So hard to know what to do!!
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