Your car is important enough to insure!

Why aren’t you?

Integral to sound financial planning is the protection of your financial future and that of your family. The most effective investment strategy can prove fruitless if it does not include a financial recovery plan and you become ill, have an accident or die.

For many of us, the ability to earn an income is one of our most valuable assets and your financial plan will be largely based on your income earning capacity.

What if your income suddenly stopped: how exposed would you, your family, your investments, savings and future plans be?

A temporary interruption to your income earning capacity can have devastating, long term effects on your lifestyle and that of your family.

Some unexpected events can emotionally traumatic and, while such events are usually unforeseeable, you can make sure that added financial pressure does not increase the burden on you and your family.

During times of illness, accident or death, relevant risk protection policies also indirectly protect your investment strategy and your assets so that such times are not financially devastating, hence unravelling all your hard work.

There are many risk protection policy packages and stand alone policies:

Trauma Insurance

Trauma insurance provides a lump sum payment when the insured person suffers a specified medical condition such as cancer, heart attack, major head trauma, severe burns or stroke.

Total Permanent Disability Insurance

Total and permanent disability insurance provides a lump sum payment when the insured person becomes totally and permanently disabled.

Life Insurance

While nothing can make up for the loss of a family member, life insurance allows you to leave a lump sum for your family and dependents to continue to meet ongoing financial commitments. Your    financial adviser can recommend the most tax effective way for you to buy life insurance depending on your individual circumstances.

Business Expenses Income

Business expenses insurance enables self-employed people to cover certain fixed business expenses for each month they are unable to work due to injury or illness. As an example, if you are unable to work for three months, your rent phone electricity bills, advertising and insurance costs, and non-revenue producing employee salaries may be covered by your business expenses policy. Rather than having to pay these expenses with your personal savings, you can have peace of mind that these costs are met and most importantly, that you have a business to go to when your recover.

Income Protection Insurance

Income protection insurance can provide you with up to 75 per cent replacement income if and injury or illness prevents you from working. This can go a long way in maintaining your standard of living while you deal with your illness or injury and ensure your family’s lifestyle remains intact. What’s more, the premiums for your income protection policy may be tax deductible.

Determining the Right Cover

At different stages of life, we need different levels of cover. As we age, for example, cover against the risk of certain illnesses may become more important. On the other hand, while we are younger, our financial plans may be more vulnerable to an interruption in our income stream. Ideally you will never experience an unexpected event or trauma, however in case you do, you can have peace of mind that you and your family will be looked after.