Sadly, the answer to the first question for a lot of working people in Norwest Sydney is either never or not for a long time. And the answer to the second question is usually a financial catastrophe.
The ability to earn an income before you retire is of critical importance to you. Income is the fuel that keeps your financial engine going and builds your assets for the future. If the family no longer has its main sources of income, then everything tends to collapse.
Home and car loans can’t be paid back, bills can’t be paid, school fees fall due, and it can be hard to even put food on the table. This can be a very serious and financially distressing event.
You might think that
The frightening thing is that the chances of something happening over the course of your working life are a lot higher than you think. Especially when you combine the chances with a partner.
This is all very avoidable. All you need to do is to have your insurances properly reviewed by a professional. That way you will have a solid plan B in place. Plan A is generally to build wealth and hope that nothing happens to you, but you also need to have a plan B in place. This is so that you and your family are not financially destroyed by a serious health event that turns into a serious financial event.
There are 4 major types of personal insurance that you need to have reviewed. They all work together to provide a secure plan B. They are shown below.
A lump sum is available upon death or terminal illness. This can help support your dependants to maintain living standards or pay off debts.
A monthly income stream to help support you if you are temporarily unable to work due to illness, accident or injury.
A lump sum is available to help support you if you are totally and permanently disabled due to illness or injury.
A lump sum to help support you if you are diagnosed with a specified major medical condition and are still alive (e.g. heart attack, stroke or cancer).
As you can see getting your personal insurances including your life and income protection insurance is a very important area. It is also complex to get right, and be optimised to your situation.
But, there is no need to worry or be overwhelmed, a qualified and licenced Financial Adviser from Smart Wealth Financial can work all this out for you. We can sit down and understand your situation, needs, and affordability and then work out a secure protection plan for you.
Don’t risk living another month without proper protection in place. The risks are just too high. Book in your complementary life insurance meeting today.
Smart Wealth Financial
44/11 Brookhollow Ave, Norwest, NSW 2153, AU
Copyright © 2018-2020 Smart Wealth Financial - All Rights Reserved.
The information contained on this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where necessary, seek professional advice from a financial adviser.
Smart Wealth Financial Pty Ltd ACN 610 561 718 t/as Smart Wealth Financial is a Corporate Authorised Representative of Synchron AFS Licence No. 243313