Client Success #7: Settling Into a First Australian Home
Immediate value: $1,346 a year
We met a young family who had just bought their first property in Australia. They wanted their new home, their incomes and their children looked after. We took the time to understand what that meant for them, then put cover in place and lowered their super fees, with $1,346 a year in immediate value.
Client Snapshot
- A couple with a young family
- Had just bought their first property in Australia
Their Goals
- Protect their incomes and new home
- Protect their family
- Have their super reviewed
The Challenges
- A first home loan meant more depended on their incomes
- A young family to provide for
- Their super didn’t seem to be growing
Our Strategy
- Moved both partners’ super to lower-cost funds, reducing their fees by 70%
- Put an insurance strategy in place, with premiums structured to be tax deductible
- Built a plan to pay down the mortgage over the next 20 years
The Outcome
Their family and new home have cover in place, with $1,346 a year in immediate value and super projected to be $104k and $103k higher at retirement. As with any policy, the insurer assesses the claim.
- Immediate value
- $1,346 a year
- Super fees reduced
- $91 and $65 a year
- Estimated tax saving on premiums
- $663 and $527 a year
- Projected retirement uplift
- $104k and $103k
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