28 Oct What personal risk insurance products do I need?

To be fully protected you and your family need a full wrap around suite of insurance products such as life insurance, trauma cover, mortgage and income protection and health insurance. Before you start cringing about cost and the fact you cant afford it let me show you how you can.

From my professional experience helping hundreds of clients with their financial planning throughout Australia and NZ we find most people spend large amounts of their dispersible income wasted on small luxuries that you can afford to go without occasionaly. The likes of lunches, coffees, movies, dinners out, holidays can all be managed better and free up some cash for more protection for you and your family.

When I advise I tell my clients they should look to spend anywhere from 2%-4% of their total family income on their risk insurance. For example if you bring in $100,000 then you should be spending anywhere from $2,000-$4,000. This will guarantee that you will be able to provide a full comprehensive protection plan for you and your family.

I tell all my clients that risk insurance is a part of life and you need to understand that everyday you go to work to build a future for you and your love ones you do not even want contemplate losing that because you should become sick or injured. You don’t want to lose your ability to keep creating wealth and providing the lifestyle you have now and into retirement. Even if you never claim which is good thing, be prepared to only forsake 2%-4% of your salary to guarantee you will continue to live and not lose anything you have worked so hard for.

In order to do this you will need a full suite of products that will provide a full wrap around protection. You will need life insurance, trauma cover, mortgage or income protection and preferably health insurance. Illnesses and accidents are at an all time epidemic today. The likes of cancers, diabetes, cardiovascular disease, obesity related illnesses, heart attacks and strokes all make us very vulnerable. Today we live in a fast pace high stress environment. Mental illnesses are also very real due to our hectic lifestyles.

So we don’t know when or how we are going to get struck down but there is a very high chance we will at some time. By having a full suite of products will guarantee that no matter what happens you and your family will be protected.

For more help email www.lifeplans.co.nz or call 080 222 414

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