How do I stop paying so much for income protection?

Discussion in 'Australian Truckers Forum' started by clydetruckie, Sep 6, 2018.

  1. clydetruckie

    clydetruckie Bobtail Member

    Sep 6, 2018
    I'm paying heaps on income protection and life insurance and seriously thinking about stopping it all together.

    I don't have any health conditions but for some reason cos I'm driving so often I get hit with huge costs.

    Does anyone have this? How did you reduce the costs or like is there some kind of workaround?
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  3. Midnightrider909

    Midnightrider909 Road Train Member

    Oct 26, 2016
    My wife and I are saving 1250/month by not having health insurance. That allows us to buy all the smokes, chew, candy, and fast food we want.
  4. Justrucking2

    Justrucking2 Road Train Member

    Sep 12, 2017
    Plymouth MI
    No clue how it is in OZ, but it sounds about the same here, insurance poor. I have a private conciegre doctor for medical, the VA, as I'm a vet for major stuff, until I can afford real insurance again, prices are finally coming down. Truck and workman's comp, or accident insurance, you have to shop all of that stuff yearly. The higher the deductible, the lower the premium.

    One thing, when I was younger, I paid cash for my medical. I was rarely ever in need of going to a doctor or hospital. When I did, I just asked for the cash price. Same at the pharmacy if I need anything there. They have a two or three tier pricing system here in the states, cash is still king for the best price.

    If you own your own truck, keep up on the maintanence so that you catch anything major before it happens mechanically. Prevention, works wonders, for your health, your motor, and most of all, your wallet.
  5. aussiejosh

    aussiejosh Road Train Member

    Aug 28, 2009
    Airlie Beach QLd
    Insurance is one of the biggest wrought's in the world they know you've got to have it and you know you can't go with out it, the risk is to great Income protection insurance is necessary if you are an independent contractor or O/O as your not covered by workers comp also if your O/O these costs are tax deductible, its your choice not to buy insurance if you so wish however you will run the risk if something happens too.
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