NewsInformation For My Life

Could a Simple Fix Save Australians from Loyalty Taxes?

A “loyalty tax” occurs when discounts are offered to new customers while longer-term customers pay more. Often this involves increasing premiums at the first and subsequent renewals. As the NSW government’s Insurance Monitor, charged with making sure insurance companies do not charge unreasonably high prices or mislead policy holders, I have had my office research the prevalence of loyalty t... Read more

Does Your Loyalty Cost You

From July 1 there’s a major change in insurance – last year’s premium for home and contents, and for cars, must be displayed on premium renewal notices. Using my powers under NSW legislation, and after a battle lasting several years, I have required this. Seeing the writing on the wall, all insurers and major brands have implemented this charge nationally, affecting almost 10 million hou... Read more

Are You Aware of the Upcoming Life Insurance Changes?

If there’s one important area we can be guilty of overlooking, even avoiding, more than our superannuation and that’s life insurance.  And when that life cover is included within your super it’s easy to naively assume both the payouts will be sufficient and premiums good value. With luck and judgement that might be the case but the costs of life cover are going up, we are all getting ... Read more

July 1 Superannuation Changes That Could Cost You Dearly

Would you open and read a letter if it could save you or your loved ones in the event of a serious accident or worse? I like to think I’d bother, even if it came from my super fund, but most don’t agree as figures around a massive alert being sent out about changes to life insurance have shown. Australian Super sent out notifications to 220,000 members affected by the July 1 changes w... Read more

Flu season is nothing to sneeze at

Has the evil winter witch cast her ugly lurgy spell upon you yet?  Touch wood right now if it hasn’t. For the rest of us, you don’t need to tune into the nightly news bulletins to realise this year is one of the worst flu seasons in recent memory. In fact, you or a loved one is probably clutching for the Kleenex now as you read this. 2017 has seen a record number of influenza cases ... Read more

Tax Time Tips!

For many Australians, navigating the tax system can be quite overwhelming.  But like death, tax time is inevitable – as the saying goes. So to help take the stress out of tax returns and maximise your return, H&R Block Director of Tax Communications, Mark Chapman had some tips for our listeners on The Daily Drive this week. If you have a simple tax return with not many deductions, ... Read more

Top 5 Apps For The Over 50's

New apps are appearing on the App Store at around 1000 a day.  So many of them are very useful, like apps to help with shopping or help with finding a car park, there are apps for tracking your kids’ driving habits and even an app that will send you a de-motivational quote each day! No matter what you can think of, there’s pretty much an app that will do it. So here’s our pick of the Top ... Read more

How to write a well-worded legal letter

When it comes to our money, it’s no wonder we get cranky when we feel we can’t connect with the right person in a large business or government department.  Often these multinationals are so efficient, they lack the personal touch. You phone to speak to someone and after you have clicked through 6 options on the phone menu, you’re asked to wait for an operator and reminded every 2 mins that “... Read more

Aussies Lose $300 Million To Scams

Australians lost a startling $300 million to scams in 2016, a figure which only accounts for those cases known to authorities. The record losses combine those reported to the Australian Competition and Consumer Commission and the Australian Cybercrime Online Reporting Network, which number more than 200,000.  Investment scams accounted for the greatest losses, at a total of $59 million, foll... Read more

Trekking to Mt Everest Base Camp

Here at the FiftyUp Club we have a term we use called Disrupt Ageing. It’s from a book by the same name by US author Jo Ann Jenkins who challenges the most common stereotypes about ageing and living life to the fullest once you get past fifty.  When we first discussed the term, we were interested in people who are not  “climbing Mt Everest” but just living their life with passion and purpose... Read more