Client Success #40: Getting Super on Track
Projected retirement uplift: Approx. $200k
We met a man whose super didn’t seem to be growing and whose cover cost a lot for very little. We took the time to understand what he wanted to protect, then reworked his super and his insurance together. His super is now projected to be about $200k higher at retirement, and he’s saving approximately $1,636 a year.
Client Snapshot
- Single
- Minimal cover for very high premiums
- Super that wasn’t growing
Their Goals
- Have his super reviewed
- Protect his income and assets
The Challenges
- He had minimal cover for very high premiums
- His super didn’t seem to be growing
Our Strategy
- Moved his super to a lower-cost fund, more than halving his fees
- Improved his super’s investment strategy
- Put an insurance strategy in place
- Structured his premiums to be tax deductible
The Outcome
He’s saving approximately $1,636 a year, and his super is projected to be about $200k higher at retirement. As with any policy, the insurer assesses the claim.
- Immediate savings
- Approx. $1,636 a year
- Super fees reduced
- $718 a year
- Estimated tax saving on premiums
- Approx. $918 a year
- Projected retirement uplift
- Approx. $200k
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