Hi Sarah,
It was great chatting today — thank you for taking the time! As promised, here's a quick summary of what we covered ahead of Friday's meeting.
Your Current Cover
You currently hold Life Insurance with AMP at $80/month,
sum insured $300,000.
Income Protection
Our philosophy is simple — if you insure your car and your
home, why wouldn't you insure the income that pays for both?
Section 1 — Your Goals & Scope of Advice
Tom, you came to us looking to protect Lisa and the kids (Ava 8, Noah 5) against the financial impact of an unexpected event, and to review your existing AMP cover for value and fit.
Your goals
1. Clear the $640,000 mortgage if either of you can't work.
2. Replace Tom's $145k income for 5 years if he were to die.
3. Provide a $100k lump sum for trauma/serious illness.
Section 1 — Where you stand today
David (42) & Mei (40) Lee — combined household income $245,000; net assets $847,000 across home equity, super, and investments.
Section 2 — Where you want to be
Retire at 65 with $90,000/year of after-tax income, mortgage cleared, and a $50,000 buffer for kids' tertiary education.
Section 3 — Modelled scenarios
Current trajectory projects $1.65M at age 65. Salary-sacrifice of $12k/yr (each) lifts that to $2.1M — closing the gap.
12 Jul Sarah Mitchell · Life · AMP — $1,820 → $2,140 +17%
14 Jul Daniel Reid · IP · TAL — $3,400 (no change)
18 Jul Claire Bennett · TPD · MLC — $920 → $1,080 +17%
23 Jul Tom Walker · Life · AIA — $1,540 (no change)
29 Jul Emma Chen · IP · TAL — $6,200 → $7,180 +16%
02 Aug James O'Brien · Trauma · NEOS — $1,180 (no change)
+ 41 more in the next 60 days…