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We can help you protect your financial security and your family’s if you become sick or are injured
In most cases, sickness or injuries are relatively short-lived and you are back on your feet within days or weeks. This means you will probably have some sick leave you can use and consequently the financial impact can be minor. Sadly, in some cases, it can take months to recover from sickness or injury and the financial impact of not earning an income can be severe.
Many super funds offer default insurance that may be helpful if you are permanently disabled or if you die. This type of insurance is useful in some situations, but what happens if you become sick and have to stop working for a period of say six months? In such a situation, you will still have to pay all of your household expenses but will not be able to work to earn an income.
Income protection insurance
A good solution to this scenario is tailored income protection insurance. This will provide you with an income while you recover. The insurance cover you select can be tailored to your situation so the income you receive from the insurance will be enough to cover most of your household expenses. This income will greatly reduce the financial stress your temporary sickness or injury could cause, allowing you to focus on recovering.
A financial adviser can look at your situation and help you decide what type of insurance you need to protect you and your family. To find out more you should speak to your financial adviser. If you don’t have a financial adviser, we can help you find one.
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