Articles

If you are on Stepped premiums, you may have noticed how your premiums keep increasing more and more each year.  They increase for two reasons:

1. CPI, an increase that keeps your sum insured in line with inflation, which can be cancelled
2. Age, premiums rise annually as your get older, known as ‘rate for age’.

The older you get the higher those premiums rise, until they become unaffordable and you feel forced to reduce your cover or cancel altogether.

But there are other options, such as Level premiums, which have the potential to save you $1,000’s.

Level term insurance structures your premiums, so they stay the same until the expiry age.  While this does increase the premiums in the early years, it has the potential to save you thousands over the term of the policy, making it a good option for a long-term strategy.

To get a basic understanding, here is a simple graph, showing how stepped premiums compare to level premiums.

To keep the costs down in the early years, there is also the option of having combinations of the two.

Deciding on which option to choose does come down to how long you will want to keep the policy and how much you can afford in those early years.

If you would like to know more, get a quote, or discuss the potential savings then please contact us today on 03 360 2001, email direct to one of our specialists or fill in our contact form.

This article is for general information only and should not be taken as advise.  Please see our experts page to contact your adviser.

A disclosure statement is available on request and is free of charge.

I am one of those shoppers that runs into the supermarket for one item and walks out with a trolley full of items I do not need, and quite often, forgetting the item I went in for!

Supermarkets are experts in marketing strategies.  Their isles are carefully designed to entice us, wear down our willpower, and trick us into thinking we are buying a bargain.

So, when online grocery shopping was introduced, I was an instant convert, apart from being a bit of a gadget girl, I also found it less stressful and much easier to control my spending.

Below are some of the pros and cons that I have found as an online grocery shopper:

Benefits:

Budget:  I can keep an eye on my shopping trolley total and if it is over my budget, I can remove unnecessary items.

Online shopping list:  it is so easy to add an item to my trolley as soon as I run out or simply check the pantry to see what I need.

Convenience:  I can shop anywhere I have a device.

Freebies: Many times, I have collected my groceries to find a freebie has been added, last week it was a 2 litre of milk.

Upgrades:  It is not unusual to find meat and produce weigh more than what I have paid for.

Downsides:

Shopping list:  It does take time to set this up but once all your groceries are in your shopping list(s) you are ready to go.

Out of stock:  Items I need are not always in stock at my chosen store.

Incomplete order at delivery or collection: Sometimes my order cannot be completed as the items were unavailable or could not be substituted.

Specials at other supermarkets:  an item your buying online could be cheaper or on special at other supermarkets

Cost of delivery:  It can be a bit expensive to have your groceries delivered.  However, I am a ‘Click & Collect’ shopper and as my groceries are always over $50 this is a free service.

In my opinion, there is much to like about online grocery shopping, and you have a lot of control at your fingertips.  Hopefully, it will help you stick to your grocery budget.

This article is for general information only and should not be taken as advise.  Please see our experts page to contact your adviser.

A disclosure statement is available on request and is free of charge.

If you would like to increase your current insurance cover without the paperwork or the underwriting and have found this impossible due to health issues – AMP may have a solution for you…

AMP annually offer you the option to increase your policy in line with Consumer Price Index (CPI). They also allow you to increase your cover up to $5,000, without health evidence or the paperwork for your life, trauma, disablement, and income protection*.

Who would benefit from this offer?

• If you have had any increases to your policy declined because of health issues, this option gives you the opportunity to increase your cover by up to $5,000 every year or
• If you dislike the paperwork but would like a bit more cover, then this could be the answer for you.

We have found this option to be very popular with our clients; it is an easy way to increase your covers, without all the hassle of paperwork.

Other insurance companies may offer this option as a special event, your adviser can discuss this with you.

*Conditions may apply. If you would like to take up this offer, or wish to discuss your plan further, please give us a call on 03 360 2001 or visit our Contact us page.