“QSuper raised premiums for Death and Permanent Disability Cover by 40-45%.”

The last 12 months have been fairly unsettling. In a year of bushfires, pandemic and recession, it probably felt like things were out of your control a lot of the time, didn’t it?

But of course, there are some things we can control. Take insurance for example. It often feels like a grudge purchase, but it really is the safety net that can catch you when you get bowled over by a year like 2020.

Seeing the pandemic affect the health of so many people around the world was a wake-up call for lots of workers. It made people really think about what it might mean if something happened to them and they were unable to work. How would they pay the mortgage and put food on the table? Only 33% of Australian workers have income protection.* Do you?

If you’re still working, it’s definitely one of the covers you should consider as you think about protecting what is certainly your biggest asset – you.

You and the regular income you provide underpins almost every aspect of your family’s life.

The other thing to make part of your new year insurance review are your premiums. Are you paying too much for your insurance? A number of super funds announced that the cost of their cover has risen this year. For example, from January 1, QSuper raised premiums for Death and Permanent Disability Cover by 40-45%. So, if you’re still relying on the default over that comes with your super, now might be a good time to review your plans and make sure you’re still getting good value for money.

*Rice Warner, 2017.

If you would like more information please call 1300 ELSTON or contact us to speak to one of our advisers.