Client Success #20: Cover for a Property Portfolio
Immediate value: $2,092 a year
We met a man who had built a portfolio of several properties, with a lot resting on his income. We took the time to understand his longer-term plans, including a future SMSF, and what his debts would need if he couldn’t work. His lifestyle and assets now have cover behind them, with his super projected to grow.
Client Snapshot
- Single
- Several properties and large debt
- Longer term, wants an SMSF that buys property
Their Goals
- Grow his super towards a future SMSF
- Protect his income and assets, given his debt
The Challenges
- With several properties and large debt, a lot depended on his income
- His super didn’t seem to be growing
Our Strategy
- Moved his super to a lower-cost fund with a stronger investment structure
- Cut his super fees by more than half
- Put an insurance strategy in place to protect his lifestyle and assets
- Structured his premiums to be tax deductible
The Outcome
His debt and lifestyle now have cover behind them, with $2,092 a year in immediate value and a projected $50k more in super. As with any policy, the insurer assesses the claim.
- Immediate value
- $2,092 a year
- Super fees reduced
- $479 a year
- Estimated tax saving on premiums
- $1,613 a year
- Projected retirement uplift
- $50k
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