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Life Insurance Adds Up

Benjamin Franklin, the American inventor and politician, may have lived in the 18th century, but he still has some wise words for us today. “An investment in knowledge pays the best interest” is a particularly pithy and palatable truth when it comes to our financial affairs where ignorance can lead to loss and even ruin. Life insurance is one of several areas where our financial capacity ... Read more

Are You Aware of the Upcoming Life Insurance Changes?

If there’s one important area we can be guilty of overlooking, even avoiding, more than our superannuation and that’s life insurance.  And when that life cover is included within your super it’s easy to naively assume both the payouts will be sufficient and premiums good value. With luck and judgement that might be the case but the costs of life cover are going up, we are all getting ... Read more

July 1 Superannuation Changes That Could Cost You Dearly

Would you open and read a letter if it could save you or your loved ones in the event of a serious accident or worse? I like to think I’d bother, even if it came from my super fund, but most don’t agree as figures around a massive alert being sent out about changes to life insurance have shown. Australian Super sent out notifications to 220,000 members affected by the July 1 changes w... Read more

Life Insurance Myths

There are a lot of “do” this and “don’t” do that when it comes to life insurance, but here are some common myths that need to be debunked when it comes to life insurance. MYTH: Lowering my premium means poor quality Saving yourself money does not mean your life insurance policy is poor! By simply removing items that no longer serve or apply to you, can save you money. MYTH: All li... Read more

7 Questions to Ask About Life Insurance

Life insurance has been in the headlines a lot lately from companies charging thousands of deceased customers for policies to pressure selling cover to persons of limited mental capacity. If the headlines have you questioning your life insurance, we say it’s a good thing because when it comes to life insurance, you shouldn’t buy life insurance and then forget about it. Here are 7 simple ... Read more

Why One Size Fits All Isn't Good Enough

The set it and forget it mindset is convenient and almost a knee jerk reaction in this day and age. Most of us automatically pay our bills, especially those that are fixed price bills and some even like having our life insurance automatically paid for through our superannuation. When you sign up for superannuation, life insurance is automatically turned on for you. This is known as “defa... Read more

2 Common Pitfalls to Avoid When Buying Life Insurance

Knowing and understanding life insurance is hard. For example: what is fully underwritten versus not underwritten life cover? Is it better to use the brand you see being advertised on your favourite show? Is it better to use a brand that doesn’t require a health check? The questions go on and on. FiftyUp Club is here to make sure you avoid these common pitfalls when buying life insurance: ... Read more

3 Reasons to Review Your Life Insurance Policy

You have life insurance, but do you know what it does for you? No? Life insurance also known as term life insurance pays out a lump sum of money to your family or other beneficiaries on your death or on diagnosis of a terminal illness. Now you’re probably asking, when does it pay out? Your life insurance will pay out in the event of your death or on the diagnosis of a terminal illness. ... Read more

Understanding Fully Underwritten vs Not Underwritten Life Insurance

Did you know that not all Direct Life Insurance policies are the same? Most are not "fully underwritten” which means they only provide limited, “one-size-fits-all” cover. As they aren’t “fully underwritten’’ upfront, there’s also far less certainty of a quick payout should a claim situation arise. Here's the difference in a nutshell: Ready to face your life insurance premium li... Read more

Adjusting Your Life Insurance Policy to Fit Your Current Needs

In The Game of Life, you bought insurance and only thought about it when you could collect against it or when it saved you from having to lose a turn. Now that you’re an adult, you probably only think of your life insurance when the premium is due, if you think about it at all. But if you have that set and forget mindset, then we encourage you to look at your policy in case you can save. ... Read more