Bundle all insurances and save a bundle

Over time many people can end up with several insurance policies with different insurers where the combined premiums can end up being quite expensive.  

Consider bundling your Life, TPD and Critical Illness insurances in the one policy with the one insurer. It makes insurance easier to manage and you could save a bundle in insurance premiums without sacrificing levels of cover. 

Case study

Adam and Elaine are married and both are non-smoking professionals in their early 40's. Over the course of their adult lives, they have accumulated several stand-alone insurance policies. When they spoke to their financial adviser, he reviewed their situation and found that just by bundling all their insurances, they could save almost $1,500 a year as shown below.

Did you know?

By bundling your insurances, the money saved could be directed towards wealth creation strategies.

Assumptions:

• Standard premiums, no loading applies
• Life insurance standard premiums, paid annually
• Any occupation definition applies for TPD
• Income protection benefit payable for two years after a 90 day waiting period
• State of residence for the purpose of Stamp Duty is Victoria
• Age next birthday for Adam and Elaine is 42 and 41 respectively

The above information has been sourced from Norwich Union Life Australia Limited.

Important Information

The above information provides an overview or summary only and it shouldn’t be considered a comprehensive statement on any matter or relied upon as such. The above information doesn’t take into account your personal objectives, financial situation or needs. It’s important for you to consider these matters before making any financial decision and I recommend you seek help from a financial adviser.