Life insurance explained

Are you the ‘better safe than sorry’ or a ‘she’ll be alright’ type when it comes to insurance?

Many people view insurance protection as a ‘waste of money’ or ‘an ongoing cost that you don’t get anything back from’?

Shockingly, many people are more likely to insure their car than they are their lives.

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The essential ingredient to a financial plan

The essential ingredient of a financial plan

Here’s a recipe for a basic financial plan:

Take one or more income sources and pour into a big pot. Add appropriate amounts of life, income protection and permanent disability insurance. Simmer for a few decades while slowly adding superannuation contributions and a dollop of non-super savings. Stir in some constructive debt, but take care to keep a lid on it. Dip into the pot occasionally to taste. Simmer steadily, and consume regularly after retirement.

Hmmm. Pretty bland, isn’t it? More like medicine than minestrone.

What’s missing, of course, is the most important ingredient of all – a generous sprinkling of dreams.

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What you need to know about refinancing

A home loan is generally a long-term proposition, but in some situations it can make sense to refinance your mortgage. Read this guide to the refinancing process, and speak to your broker, before deciding whether it’s right for you.

Refinancing involves taking out a new mortgage and using those funds to pay off your existing mortgage. Doing so can save money and result in significant financial gains over time.

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