Have you got the appropriate insurance in place to protect you and your loved ones?
The importance of cover.
There are many things the average Australian household can live without, but life insurance should not be one of them. Life insurance is important to protect your family and loved ones from financial misfortune.
The majority of adult Australians remain vulnerable to financial strain because of insufficient insurance and therefore are endangering their ability to source an income in the event of illness, injury, disability or death of working family members. This reality can have tragic consequences for the individuals and their families.
Can you afford not to be insured? Can you really rely on government support?
Underinsurance is a huge problem in Australia.
Our health and life is a high priority for us all, yet Australians are willing to pay less for income protection or life insurance than they pay for car insurance. According to research undertaken by KPMG for the Financial Services Council, 35% of employed people in Australia have no disability insurance at all and 19% of families do not have any life insurance. Underinsurance leaves Australians exposed to significant financial risk; risking their homes and other valuable assets.
Do you know how much insurance do you need? Talk to us.
Health and life are irreplaceable and we should all take action to insure our families to help with the financial impact of life changing insurance events. Life insurance through your company superannuation fund means you are covered to some extent, however this may not be enough to meet your requirements and additional cover to your superannuation may need to be considered.
Super-Advice is happy to talk to you to help you understand the insurances you hold, how much it’s costing you and highlight any opportunities you may need to consider. Feel free to contact us on 1300 557 782 or email firstname.lastname@example.org
Financial Services Council and Metlife, Apathy to Action 2014
Rice Warner, Underinsurance in Australia 2014