wealth protection

Will you have the ability to support yourself and your family if the unexpected happens? Many Australians neglect insurance, not realising that it is crucial in protecting your lifestyle and those who depend on you.

Here’s 5 reasons why you need to stop neglecting wealth protection:

  1. Provides peace of mind for you and your family

With wealth protection, you can be sure that your family will be protected from financial turmoil if something were to happen to you. If you are injured or suffer a serious illness, income protection can provide up to 75% of your gross earnings. No matter the situation, your family can rest easy that you will all be cared for.

 

  1. Guarantees ongoing quality of life

There’s nothing better than having the reassurance that your finances will be covered, no matter what happens to you. Wealth protection insurance brings you this guarantee, so that if you suffer a serious illness or injury, you will have financial protection that will keep you afloat until you can get back to work.

 

  1. Allows you to keep up with repayments

Not only will time off work mean no income, but it is likely that you will be dealing with medical expenses too. Wealth protection can help you to prepare for these unexpected situations, to ensure that you won’t be stressed about your financial state during this time.

 

  1. Allows you to focus on your recovery and recuperation

Experiencing financial stress whilst trying to recover from your injury or illness is the last thing that anyone wants. With protection in place, you can put the focus on the most important task at hand, recuperation, so that you can get back on track quickly.

 

  1. It could happen to you!

Many Australians think that the unexpected events in life won’t happen to them. Think again. The unfortunate truth is that you have a 1 in 3 chance of suffering a major medical illness between the ages of 30-64.1 The typical Australian family will lose half or more of their income following a serious illness, injury or loss of one parent as a result of underinsurance.2 Too many things in life are outside of your control, so make sure you are prepared for the unexpected.

 

A financial adviser at MG Financial Services has the training and experience to provide wealth protection advice tailored to your specific needs. Call us today on 03 9523 6500 or email us at info@mgaccountants.com.au to get in control.

 

1 Pricing Dread Disease, Institute of Actuaries of Australia 1994.
2 Lifewise/NATSEM Underinsurance Report 2010