Saturday, July 27, 2013

Paying Endless Insurance Bills

Lately it feels like all I've been doing is paying insurance bills one after the other to protect against an unknown future and unforeseen events that may be detrimental to my hip pocket.

In the past few weeks, there have been a multitude of bills and statements regarding death insurance, disability insurance, car insurance, home and contents insurance, health insurance and the list is endless.

Since I haven't claimed against my insurance providers for years and years, I feel like I'm paying premiums into a black hole. Although being young means we are the ones paying for the older folks who are claiming insurance, it still doesn't alleviate the feeling that paying for insurance is such a (necessary) waste.

I'd rather pay my premiums and not claim, than have to claim of course. To claim insurance would mean whatever detrimental event that I've insured against has actually happened and I'd rather not have those events happen!

Does anyone else find insurance bills tiresome?


  1. Yes I do, but I am 35years old and paying approximately $250 monthly for Life, TPD, Trauma and Income protection. However, I am happy to pay until I clear off my mortgage (may be another 6 to 8 years) if something goes wrong then I don't want my family to suffer. I don't worry much as it covers a lot. I suggest anyone, if you don't have any debts then there is no point taking all these, if that is the case it would be good to take at least income protection and Trauma until your kids live on their own.

    1. You've made a few good points there.

      You probably already know that you can pay for those insurance through your super fund, which can be cheaper. What you're doing is really wise. Anyone who is a sole income earner or has a family dependent on them really need to have the range of insurances that you listed. And if anyone is debt free, then it's more important to have Income/TPD/Trauma insurance and not as essential to have Life Insurance.

      What really kills is the car/house/property/landlord insurances. They're a few grand every year for us but if anything were to happen, then it wouldn't be detrimental.