Client Success #32: Protecting a New Home
Projected retirement uplift: $104k
We met a woman who had just taken on a new mortgage and wanted to know her home and income were protected. We took the time to understand where her super and cover stood, then put both on a better footing. She now has cover in place for her income and new home, and her super is projected to be $104k higher at retirement.
Client Snapshot
- Single
- A new mortgage
- Minimal insurance cover
Their Goals
- Have her super reviewed
- Protect her income and assets now she had a mortgage
The Challenges
- Her insurance cover was minimal
- Her super didn’t seem to be growing
Our Strategy
- Moved her super to a lower-cost fund, more than halving her fees
- Gave her super a stronger investment structure
- Put an insurance strategy in place
- Structured her premiums to be tax deductible
The Outcome
She has cover in place for her income and new home, with $996 a year in immediate value and super projected to be $104k higher at retirement. As with any policy, the insurer assesses the claim.
- Immediate value
- $996 a year
- Super fees reduced
- $503 a year
- Estimated tax saving on premiums
- $493 a year
- Projected retirement uplift
- $104k
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