Cancer rates are rising for Gen X and Gen Y - why insurance has never been more important!

Cancer rates are rising for Gen X and Gen Y.

You can watch this Four Corners report on ABC Iview, and, I want to implore you to review your insurances!

The biggest misconception you can make is thinking the default amounts of insurance inside your superannuation are enough or the correct types. Here are the default insurances offered by Australia's five largest super funds:

Here are some scary stats:

• Only 21% of super funds offer default income protection. The other 79% don’t have it, or people will need to actively source it through a Financial Planner.
  

• The average Life insurance and TPD provided by the 5 biggest super funds is only $192,000.
  

• Trauma insurance is arguably the most important insurance for cancer and other critical illnesses, and, zero super funds offer this insurance.

  
  

• Only 3 of the 5 biggest super funds offer default income protection, and of those three, all of them only provide a 2 year benefit period.

 

So, make sure you have the right insurances, to cover your needs, particularly if you have dependants and a mortgage!

Our insurance service helps you in four main areas: 

• We calculate how much Life Insurance, Total & Permanent Disability, Income Protection and Trauma insurance that you need based on your individual variables such as age, income level, mortgage size and number of children.

 

• We analyse the cost and quality of your current insurer against a range of insurers to find you the best product.

 

• If you have any pre-existing health conditions, we can source the best insurer and structure for you. 

 

• If you ever need to make a claim, we will support you through the process and act as your representative in processing the claim with the insurer. 

If you need help:

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