Client Success #5: Covered for a New Mortgage
Immediate value: $975 a year
We met a woman who had just taken on a mortgage and wanted her income and home protected. We took the time to understand what she needed, then put cover in place and moved her super to lower fees. The changes are worth $975 a year now, with a projected $121k more at retirement.
Client Snapshot
- Single
- A new mortgage
Their Goals
- Protect her income and assets now that she had a mortgage
- Have her super working harder
The Challenges
- Time off work would be harder to absorb with a mortgage
- Her super wasn’t growing the way she expected
Our Strategy
- Put an insurance strategy in place for her lifestyle and assets
- Structured her premiums to be tax deductible
- Moved her super to a lower-cost fund, more than halving her fees
The Outcome
Cover is in place for the mortgage, and the changes are worth $975 a year now, with a projected $121k more at retirement. As with any policy, the insurer assesses the claim.
- Immediate value
- $975 a year
- Super fees reduced
- $207 a year
- Estimated tax saving on premiums
- $768 a year
- Projected retirement uplift
- $121k
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