Review your insurance and consolidate multiple accounts

Year-end is a good time to review the level of insurance cover you have within your fund and decide whether it is still right for your circumstances. New additions to the family, or taking on large debts (such as a new mortgage), may mean it’s time to raise your level of cover. Remember, more cover will cost more, so you may need to make extra contributions to ensure you are still saving enough to achieve your retirement goals.

Year-end can also be a good time to consolidate multiple accounts, as you are paying fees on each one. Combining them into a single account makes financial sense, but ensure you are not losing valuable benefits such as higher insurance cover if you decide to close an account.

Please contact us so that we may assist in referral to relevant professional associates, including our range of services for auditing, tax, accounting, bas, payroll, etc.

 

Last updated: 14th June 2016