Client Success #39: A Better Fit for Super
Immediate savings: Approx. $1,114 a year
We met a couple whose super didn’t seem to be growing and whose cover cost a lot for what it gave them. We took the time to understand each of them, then found super and cover that fit them better. They’re now saving approximately $1,114 a year, with their super projected to be about $97k and $53k higher at retirement.
Client Snapshot
- A couple
- Two incomes
- Minimal cover for very high premiums
Their Goals
- Have their super reviewed
- Protect both incomes
The Challenges
- They had minimal cover for very high premiums
- Their super didn’t seem to be growing
Our Strategy
- Moved both partners’ super to lower-cost funds
- Improved their investment strategy, with less investment risk for one of them
- Put an insurance strategy in place for both
- Structured their premiums to be tax deductible
The Outcome
They’re saving approximately $1,114 a year, and their super is projected to be about $97k and $53k higher at retirement. As with any policy, the insurer assesses the claim.
- Immediate savings
- Approx. $1,114 a year
- Super fees reduced
- $331 and $155 a year
- Estimated tax saving on premiums
- $297 and $331 a year
- Projected retirement uplift
- $97k and $53k
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