Phil Thompson

speaker

1,592 appearances 4 recordings 3 series first heard Apr 2026 last heard 25 Aug

Phil Thompson’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 4 in all, peaking in Aug 2026 with 1.

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Equity Mates Investing Podcast · Ask an Adviser: Why earlier is better for life insurance with Phil Thompson · 13 Apr 2026 podcast

For our age.

Yeah, exactly.

You just think about your lifetime earnings between now and retirement.

What does that look like?

You just do real basic math, not even assuming any pay rises or increases or inflation.

You just go whatever that income is today times by years to retirement and you're talking in the millions very quickly and easily.

So, that is a common mistake I see that, you know, exactly your situation.

I've got it in super.

I've seen it somewhere when I've read my statement.

I'm pretty sure that's all sorted.

And the super funds, you know, they have their obligation to protect all their members.

And so, they've got to make some assumptions of what they think is reasonable.

but they're also balancing protecting your super balance as well and all their members' super balance.

So there is a thing where insurance, if it does significantly erode super balances, well, as a super trustee, that's your job is to make sure we're protecting super balances and retirement savings.

Your job isn't to protect the...

you know, the percentage of people who are going to need to claim.

So that's why they all often underbake the levels of cover.

But even when people go and increase it, I do often see that it's pretty small sums insured that we see covered.

Most people just go, my mortgage is my biggest individual expense in my life.

And that is worth half a million dollars, 700,000 or whatever the number is for each individual.

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