“83% of Australian’s insure their cars but only 28% insure their income.” *lifewise.org.au
Which is the most important asset to you?
It seems far from ideal that in the tragic event of a car accident that your car is more protected than yourself.
Take for example a 35 year old man, Joe. He earns $60,000 per annum and has a car worth $20,000. Over the next 20 years, if Joe’s salary stays at $60,000, he will earn approximately $1.2 million dollars over that period, not taking into account any pay rises.
Does it come as a surprise that Joe insures his car worth $20,000 to him, yet he does not insure his ability to earn which over the next 20 years is worth $1.2 million to him? It should. It is also surprising that Joe is not alone.
An unexpected illness, broken leg on the sports field or a severe back injury could put you out of action for months. This leaves a number of uninsured Australian’s struggling to meet the everyday costs of food, rent, and utilities, not to mention if you have a mortgage, kids, or personal debt. What would you do without an income?
Income Protection costs a fraction of your income yet can provide you with a replacement monthly income stream should you suffer an injury or illness rendering you unable to work. It can provide you with the peace of mind that an injury or illness won’t stop you from receiving a smooth monthly income.
Talk to one of our advisers today about putting in place a plan to cater for your personal needs. Take control of your income, don’t leave it up to chance.
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