CANSTAR CANNEX Comments

"If you think you would find it difficult to get by without your regular source of income, then you should look at getting income protection. You never know when injury or illness could strike, and having income protection could not only benefit you but your family as well, by supporting them in the event that you are unable to work." - Stephen Mitchell, CANSTAR CANNEX Manager of Risk Research.

"Total and permanent disability cover can provide financial support in the event that you suffer a serious accident - the type that could prevent you from ever working again. When shopping for life insurance, TPD is an important option to consider. Terms and conditions need to be examined carefully." - David Noble, CANSTAR CANNEX Adviser Services.

"Many people in Australia are under-insured. Remember that carpet, blinds, curtains and air conditioners attached to windows all come under contents insurance, while fixed items such as air conditioners attached to walls, dishwashers in cabinets and tiles come under home insurance." - Steven Mickenbecker, CANSTAR CANNEX Head of Research, Product and Strategy.

"In most cases, flood-related events are not covered by home and contents insurance. If you live in an area where flooding is a risk, be sure to check with your insurer to find out if you are covered in case the worst happens." - Harry Senlitonga, CANSTAR CANNEX Financial Analyst.

"Extras cost more, so only select the extras you think you’ll need. Otherwise, you could end up paying for a service that you’ll never use. Some insurers allow you to remove certain extras from your policy in return for a reduced premium. Check with your insurer to see if they allow this." - Harry Senlitonga, CANSTAR CANNEX Financial Analyst.

"When it comes to car insurance, quotes can vary dramatically. Be sure to shop around for the best deal, but remember that it's also important to consider claims service. It's no good having dirt cheap insurance if the insurer is difficult to deal with when the time comes to make a claim. Ask around about other people's experiences with making claims." - Harry Senlitonga, CANSTAR CANNEX Analyst.

"Offset accounts allow you to effectively live off funds stored in your home loan offset account, with the benefit being that funds in this account offset interest on the home loan. But be aware, if you're not the type to ever have a spare cent in your account, this could be of little benefit to you. Since loans with an offset account typically cost more, make sure you really need it before you sign up!" - Harry Senlitonga, CANSTAR CANNEX Analyst.

"Comparing rewards programs is tough. Since rewards points vary in their value, how do you know you're comparing apples with apples? That's where the CANSTAR CANNEX star ratings come in. Let the experts crunch the numbers! We've awarded each reward program a star rating so you can quickly and easily view the best value for money rewards programs." - Frank Lopez, CANSTAR CANNEX Analyst.

"When you get your credit card statement, be sure to look over it. It's important to understand your spending habits if you wish to reduce your spending the following month. Identify areas where you could save money, and stick to your plan!" - Frank Lopez, CANSTAR CANNEX Financial Analyst.

"There are hundreds of different credit cards available in Australia, so finding the right one for you can be a challenging prospect. The most important thing to remember when you're shopping around is that the best card for you might not be the best for someone else. It all depends on your individual spending habits and finances. That's why CANSTAR CANNEX uses profiles to rate credit cards according to the type of spender." - Frank Lopez, CANSTAR CANNEX Analyst.

"If you're shopping around for a home loan, be sure to read over the terms of the loan before you sign up. Furthermore, it's important to ask questions if you don't understand anything in the fine print. Being an informed consumer means that you won't be as likely to get any nasty surprises later on." - Frank Lopez, CANSTAR CANNEX Analyst.

"While introductory interest rates may be appealing, you should be aware of the cost of the loan long term. There are calculators available on the CANSTAR CANNEX web site which can show you in a few simple steps the difference between an intro rate loan and a standard variable rate loan." - Harry Senlitonga, CANSTAR CANNEX Analyst.

"Experts agree that one of the best ways to pay off your home loan sooner is to make extra repayments in the early years of the loan period. Say for example you have a 30 year loan. In the first 5 years if you can make lots of extra repayments, there is generally a huge saving on interest charges." - Frank Lopez, CANSTAR CANNEX Financial Analyst.

"A home loan with redraw simply allows you to access extra payments which you have previously made to the loan. Extra repayments are those that are above and beyond your minimum monthly repayment amount." - Frank Lopez, CANSTAR CANNEX Financial Analyst.