Protection

Life is like a roller coaster

Life is quite an adventure and I often liken it to a roller coaster ride – full of ups and downs – many of them unpredictable.

Protecting yourself and your family against the financial impact of death and disability (due to illness and injury) is not a nice subject to think about, but is something that can and does happen to people just like you and I every day.

It is not uncommon to come across people who don’t want to think about it, think it won’t happen to them, or think the government will look after them if something dire does happen.

But here are some sobering statistics:

  • On average 1 person has a stroke every 10 minutes
  • 1 out of every 4 people will experience a depressive episode in their lives
  • You have a higher than 1 in 2 chance of being disabled for more than a month sometime during your working life, and a 1 in 3 chance of being disabled for more than 3 months
  • Men have a 1 in 3 chance of being diagnosed with Cancer by age 75, and for women it is 1 in 4
  • The leading cause of death for females aged 24-64 is Cancer, and across all age groups it is Cardiovascular disease
  • The leading cause of death for males aged 25-44 is accidental injury/poisoning and for males aged 45-64 it is Cancer
  • The good news is the 5 year ‘relative survival rate’ for all cancers is around 65% for males and 67% for females

The reason I point these out is because it’s important to think about what protection you have in place if things go wrong. If something happened to you health-wise (be it an illness or accident), that prevented you from being able to work for a period of time, what would happen? Would your family’s standard of living be impacted?

A protection plan can be designed to protect you and your loved ones from the financial impact.

Worried about cost? Worried about complexity? There are strategies available to help with these concerns. Everyone’s needs and circumstances are unique and we recommend you have a personal assessment to determine what you need to protect and how best to achieve that.

If you’d like to find out how you can protect your family, give us a call on 1300 887 528 or contact us via our webpage to arrange an appointment with us at our Financial Planning offices in East Kew.

Protection

Sources: OnePath Fast Facts, Zurich’s ‘What Are The Odds’ factsheet, AIA website. Thanks to funnyjunk.com for the image.

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