What are you really willing to risk?
Are there things in your life you believe are worth protecting from harm? If you are considering how to save for the future, want to make your investments go further, or just simply get a bit ahead of where you are today, then things must be going alright, right? After all, you can't very well do those things if you don't have money to invest or surplus income to save.
But what do you do when that income gets taken away? What happens to your aspirations for the future, for your family or simply for yourself, when you can't work? We all make choices about our work, careers, lifestyle, and spending everyday. But what does your world look like when those choices are taken away from you?
When we buy a new car, or move into a new home, most of us don't question the need for insurance, it is just a cost of the car or home. We can't get by without our car, or our home, or the things we have in that home, so we make the investment in protecting ourselves from losing those things that matter to us with insurance.
Have you considered though what happens to those things, and to the people around you, when you can no longer work, when you get sick or injured, or if you die? We don't like to think about these things, but just like we have to consider we might have an accident in our car one day (not our fault of course!), we should protect those things that matter to us the most, our people, against these things we hope never happen.
If you are interested in protecting your financial plan, the things you have worked hard to achieve, or the people in your life around you, then a well structured insurance plan is the very foundation of a good financial plan. You can't save for the future if your greatest asset, you, is not protected.
A personal insurance plan can help different people in different ways:
- Young career starters; insure your income - while you are young and healthy insurance is cheap, and if you want to be able to pay your bills, cover your rent, save a deposit for a home or holiday, pay off that car, and avoid moving back in with Mum and Dad, you need that income.
- Families; protect the family lifestyle, the home, and your children's future - insurance can cover that mortgage, protect what savings you have, provide for your children's education, and all the other aspects of your lifestyle you have now and don't want to lose.
- Wealth accumulators; so you're starting to build up that nest egg for the future, retirement isn't as far away as it seemed not so long ago. But will you have enough saved, will you get the last of your mortgage paid, if you had to stop work now? Insurance can make sure that you have the money you and your household need to get you to that time when you are financially independent. You don't want to undo all that hard work now. Is your retirement dream really to move in with your children and grandchildren?