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Australia might be the lucky country, but it’s certainly not a cheap one to live in. This is especially true if you’re on a fixed income. While you can live like a Spartan, scrimping and saving every last cent, at the end of the day tightening the purse strings will only get you so far. To make a real, tangible difference to your bottom line, you need to seek out smarter alternatives to the non-negotiable expenses in your life.

Here are three everyday essentials senior Australians are commonly spending way too much on. Find out how easy it is to find cheaper alternatives to these necessary expenses.

Health insurance

Of all the everyday expenses that you wouldn’t imagine living without, health insurance is perhaps the trickiest one to get your head around. We all want to be covered for as much as we can afford, but complicated policies, premium hikes and a misconception that changing funds is an expensive, messy process, lead to many of us keeping outdated coverage for years, and forking out for extras we never use and don’t really need.

Failing to review your coverage will see you slugged with what the industry calls, the ‘lazy tax’. Premiums rose a whopping 4.8 per cent in April this year (following a streak of constant increases dating back to 2010), and this has punished many seniors who took the ‘set-and-forget’ approach and kept the same policy for years.

But there is a smarter way. iSelect is empowering seniors looking for better, more relevant policies, that cater better to the needs of older age like coverage for cardiac issues, joint replacements and cataracts. In the space of a 45-minute phone conversation, you can find yourself with a tailored seniors health insurance policy that will see you only covered for the things you need, and ultimately save you hundreds of dollars a year.

Don’t be put off by the misconception that changing policies is a messy process. Remember, any hospital benefit waiting periods are protected by law, provided you are switching to a policy that has an equal or lower level of cover.

A policy that changes with your needs is ultimately one that is going to give you the best value. So, what are you waiting for? Visit iSelect Health Insurance and get a better deal on health insurance.

Car Insurance

Another everyday expense seniors typically get a raw deal on is car insurance. Older drivers, especially those with a good driving history, generally pay less for car insurance, but these discounts are only available if you review your policy.

If you’ve hit a milestone birthday, been claim-free for over a year, have recently retired and are no longer driving to and from work, or have a policy that doesn’t offer age-related discounts, it’s worth looking around to see what’s out there.

As with health insurance, switching car insurance providers is typically perceived as a messy process, but it doesn’t have to be by any stretch of the imagination. iSelect can help you find insurers that will be willing to offer you discounts for a good driving history, which could even see you eligible for hundreds of dollars in savings.

It’s important to remember too, especially if you’ve had the same level of coverage for a while, that some providers cater specifically for seniors. This can unlock a range of potential discounts regarding good driving habits, low mileage and no claims bonuses.

Older, safer drivers generally pay less, and if your policy doesn’t reflect this it’s time to shop around. Visit iSelect Car Insurance and get a better deal on seniors’ car insurance.

National Broadband Network

The rollout of the National Broadband Network is well and truly underway. Once the NBN is available in your area, you’ll only have 18 months to find a provider and sign up to the network. But with so much information around, it can be difficult to figure out which provider represents the best value proposition for seniors.

Previously choosing the best NBN plan came down to two factors – how much data you needed and how much money you were willing to spend. But with the introduction of the NBN we’re introduced to a third factor – speed. NBN will allow users to choose the internet speeds that suits their needs, based on plans that are priced accordingly.

The right speeds tier for your internet needs will depend on how many people are in the house and what devices are connected to the NBN at your home. Which is why it helps to speak to an expert, who can help you understand your options when choosing between different NBN plans.

iSelect gives you the opportunity to make an informed choice, and find the right plan that suits your needs as an internet user. Visit iSelect Broadband to get a better plan for your household.

THIS IS SPONSORED CONTENT BROUGHT TO YOU IN CONJUNCTION WITH iSelect.

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