Everybody Loves a Good Poll!! - Life Insurance.... et el

Best insurance for heart attack and the Big C is health lifestyle , regular checks . Pay 500 for a CT coronary angiogram and if that's clear you have bugger all chance of having IHD in the next ten years . If it's not , Statins are the most effective medication on the planet for making you live longer and stents are very effective .The most Common cancers , Prostate, Colon , Breast and Cervical are all screen-able . FOB , PSA , PR , Breast Check , PAP smear will pick up the relevant Ca's at a stage most are treatable .
Non smoking cut down the risk of many Ca's , not just lung ( which is quite uncommon ) .

Many TPD and income insurance come packaged with Life . For me those are just as if not more important . Being a single parent with a disabled partner and inadequate income is not a nice scenario and is probably more likely that death . If you're dead , e harmony , RSVP are all viable options for your wife as they are for mine ..... I wouldn't want my wife to dress in black and mourn me for the next twenty years. I'd want her to get on with life and enjoy it ( though not tooo quickly ...)

The biggest risk at your stage of life isn't heart disease or Cancer . It's an accident , either an MVA or at home or at work . I can't recall the last time one of my middle aged patients was killed in an accident , but I have several who I see who have significant disabilities as a result of MVA's or work related accidents . Because they weren't killed they don't make the papers .
I have a couple who are struggling to make mortgage payments at the moment

In our circle of parents at school we know one who is permanently disabled as a result of a push bike accident . He had adequate insurance so they have lots of holidays . One mother fell over in a bath and is now in a wheel chair . Both occurred in your next ten years . Molly Meldrum fell of a ladder changing a light bulb . One of my colleagues had three people at his golf club suffer the same injury in a one year period . Falls down stairs are another common source of injury . We have really good stable step ladders at home with a supportive handle to hold on to . This might sound paranoid , but most times I go up and in-particularly down stairs I run my hand down the rail as a precaution ...... One of my long term disabled patients ( in their 30's ) was a successful REA who fell down stairs . Now divorced & unemployable . A couple of times I've saved myself from falls doing this . We buy new cars regularly with the latest Safety devices . Curtain air bags are essential and have made a significant change to the type of accidents people walk away from . Ask any ambo / paramedic .

3-12 month time off work is a possibility , depending on you work . Playing with the kids , easy to do a shoulder , knee or injury a back which can easily put you out of work for a few months . Again that's not an uncommon scenario .

Cliff

 

No , that's not optional and is a business expense . It's actually not that bad for GPs .

We do have a fair amount of debt at this stage and I'm approaching 60's so it all gets more expensive as you get older .

Cliff

 

No

Yes but I like @Shady better . I might start using that, especially when I am in PC ('polite' company).

 

@See Change Thank you, One of the most informative and though provoking pieces of information I've read on the subject.

 

Im also in the same boat looking at upping my life insurance. I have maxed out super which is at 700k. I changed it about 6 years ago so instead of having units purchased and that going down each year you could set it at the rate it was at, but the cost goes up each year.

I have a small amount of life with anz, and requested a quote over the phone, they refused to quote me over the phone and said they would mail me out a quote, i havent received it.
But my life insurance pay out wont cover my debts, off by about 400k.

Anyhow the question that hasnt been asked, is which insurer is better? Are some known not to pay out, are some cheap and nasty? Who are people insured with? There seems to be a lot of options out there!

 

This is a good idea
who is this with Wyllie?

 

*cough. What??

PS It's at least 3 million

 

You

thanks Wylie
I've put my feelers out on fb groups. Would work for us because we don't declare an income .... yet.

 

It will depend on the policy whether it's still valid if he hasn't worked in 8 years. Dependent on the exact details, it may be the case that it was locked in under different circumstances but can be honoured, whereas if he reapplied for it now those factors wouldn't exist and then can't be insured accordingly.