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MONEY HABITS
Get assurance with insurance
11 October 2017
Insurance isn’t the most glamourous purchase you can make, and there’s no way to flaunt it on social media!
But having some assurance from your insurance means that the everyday things that you love won’t be taken away if bad comes to worse. It’s worth sitting down and thinking about what your current level of insurance will cover – and if you might need some more!
Ok, so life’s really working out for you, but I want you to step back from the excitement a minute and think insurance.
As one of the least glamourous aspects of your finances, and you can’t see or touch it, it’s possible this is an area that needs a little love from you. After all, everything you’ve worked so hard to build could disappear in a puff of smoke if accident or illness struck.
I’m assuming you have adequate general cover for your home, contents and car – but do you have enough what’s called ‘risk insurance’ to protect you and your family?
A quick insurance audit will tell you.
If you have debts or dependents, you must have sufficient life insurance to cover both if the worst happened.
And what about if you were to become ill or injured?
Total and permanent disability insurance could give you a lump sum if you’re in a bad way. Income protection insurance replaces up to 75% of your income. Now that’s powerful!
Information is intended to be of a general nature only and any advice has been prepared without taking into account any person's particular objectives, financial situation or needs. You should make your own enquiries, consider whether advice is appropriate for you and read the relevant Product Disclosure Statement or Product Information Document before making any decisions about whether to acquire a product.
