Insurance premiums are lower when you’re young and healthy, and higher when you’re older and more likely to be diagnosed with an illness or disease. This is the case for 95+% of people with insurance - and unfortunately it often means that many of these people will need to make the tough decision to cancel their insurance in their older years - which is exactly when they will need their cover!
Why are we distracted by baubles and bait? We can't help it, we're humans after all. Fear not my friends. You haven't lost any IQ points if you're an avid collector of the smurfs or you have to collect stickers in exchange for a prize. You are just doing what we've been designed to do since the beginning of time: hunt and gather.
If you take the time and go to Give a Little, click on the Health tab. Right now you will see 884 campaigns, heart-breaking campaigns, of people who need money to fight disease, get medical treatment, have surgery, or fulfill their final wishes.
Many people who want to buy insurance go and speak directly to an insurance company, or to insurance advisers who work for an insurance company; in both cases, you will only be recommended one company's products, and not be given choice about the best insurer for you.
Say you have a mortgage of $350,000 over 25 years, at 6% interest, that’s $1,040 payments per fortnight. Now let’s look at some options.