Wealth protection is all about protecting the assets you have worked hard to accumulate, the level of lifestyle you have created based around your income and ensuring that those most important to you are taken care of (financially) whether you are here or not.

 

The thought of dying, suffering an illness, injury or trauma is generally something we choose not to think about – it’s human nature to think ‘it will never happen to me’.    We also understand that we are mortal and probably know someone close to us who has died or suffered a major illness.  In fact, every working Australian has a one in three chance of becoming disabled for more than three months before age 65.

 

Nevertheless, most people do not have a plan in place to ensure that, in the unlikely event of a catastrophe occurring, they and their loved ones will be financially protected.  The logical and relatively inexpensive way to provide protection for the majority of individuals is via risk insurance.  Until such time as a person has accumulated enough investments assets to enable them to retire in comfort (excluding the family home) insurance should be considered.