Client Success #3: Protecting a Family Through Change
Immediate value: $1,055 a year
We met a sole parent with young children and a home loan, going through a change in her family circumstances. She wanted to know her children, home and income would be looked after if anything happened to her. We took the time to understand what mattered most, then put cover in place and moved her super to lower fees, with $1,055 a year in immediate value.
Client Snapshot
- A sole parent with young children
- A home loan
- Going through a change in family circumstances
Their Goals
- Have her super reviewed
- Protect her children if anything happened to her
- Protect her home and her income
The Challenges
- Her family relied on her income alone
- Her super didn’t seem to be growing
- Her change in circumstances raised questions about available support
Our Strategy
- Moved her super to a lower-cost fund, more than halving her fees
- Put an insurance strategy in place for her lifestyle, children and assets
- Structured her premiums to be tax deductible
- Worked through Centrelink strategies to support more income for her children
- Agreed to revisit an investment property once her circumstances settle
The Outcome
She now has cover in place for her family, with $1,055 a year in immediate value and a projected lift in her super. As with any policy, the insurer assesses the claim.
- Immediate value
- $1,055 a year
- Super fees reduced
- $255 a year
- Estimated tax saving on premiums
- $800 a year
- Projected retirement uplift
- $134k
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