When planning your future consider how your family and dependants would cope financially if you were to pass away. Will they be in a financial position to meet important financial commitments such as mortgage repayments, education, childcare or even the basic necessities?
Life Insurance can help secure your families financial future by providing a lump sum to your estate in the event that you pass away. It will provide monetary support to your loved ones when it is needed most.
We don’t need to look very far from our own circle of friend and family to find medical trauma (cancer, heart attack, stroke). It seems that it affects everyone in some way.
Trauma insurance can be a safety net that provides access to a lump sum amount in the event that you suffer a specified medical condition. In the event of a claim, the benefit can be used to help fund mortgage repayments, assist with medical or rehabilitation expenses or simply supplement day to day living expenses. Trauma insurance could also provide peace of mind, which might just help to speed up the recovery process.
The inability to earn your regular income due to an illness or an injury can be devastating. If you stop to think about it for a moment we’ll all earn a small fortune over our lifetime, even over a 10 year period someone on $45,000 per annum will earn almost half a million dollars!
The tragedy is that it can all go in an instant. Years of study, work and experience could mean nothing in the face of a long term illness or injury, not to mention the effect on your lifestyle, family and assets.
Income Protection can protect your income for the whole of your working life making sure that you have money available to fund your day to day living expenses and build assets for the future.
To see whether income protection is something that could benefit you, discuss your personal circumstances with a licensed financial planner from CPB.