Single Touch Payroll (STP), is an Australian Government initiative to reduce employers' reporting burdens to…
The European Heart Journal says that there are 2 intense emotions which are linked to an increase in heart attack risk. These two emotions increase your risk of heart attack by up to 9.5 times two hours after the feeling.
Now ask yourself….
If you or your partner were to suffer a heart attack and were unable to work, how long could your family survive without income? Although it can be a very unsettling thing to face, there is a significant likelihood of a major health event impacting on us.
Click here to see the risks of not insuring yourself.
- Chance of a partner dying before aged 65 is 35 in 100, and of becoming totally disabled before aged 65 is 52 in 100.
- You have a more than 60% chance of being disabled for more than 1 month during your working life and a 1 in 3 chance of being disabled for more than 3 months.
- The number of new cases of cancer diagnosed increased from 47,417 in 1982 to 118,711 in 2011. Over the same period the population grew by around 30%.
- Survival rates are increasing for most types of cancer, with the exception of pancreatic, lung and brain cancers.
- The 5 year ‘relative survival rate’ for all cancers is around 58.4% for males and 64.1% for females.
- Cardiovascular disease affects one in six Australians or 3.72 million people.
We insure our house, car and contents, yet we fail to insure our greatest asset…. Ourselves! Whilst you don’t have much control over the likelihood of a nasty event happening to you or a loved one, you can change the outcome. You can make sure that yours and your family’s well-being is protected and that you don’t end up drowning in debt.
What Can You Do To Protect Yourself?
There are life and disability insurances that are designed to at least take out the financial hardship if you find yourself or a loved one impacted by illness or injury, or even death.
If you are temporarily unable to work as a result of illness or accident, your expenses may continue even though your income may have decreased or ceased. This type of cover can help you maintain your family’s quality of life during the recovery period.
Trauma cover provides a payment if you have a heart attack or stroke, or are found to have a serious cancer or the like. It is designed to fill the gap which neither income/disability cover nor private health insurance would cover.
Recovering from a serious illness may introduce the financial stress of medical costs, loss of income and rehabilitation expenses. Other capital expenses such as the need to make modifications to the home, buying a purpose built motor vehicle, employing a home nurse or seeking offshore medical treatment, etc. can all adversely impact on your financial situation.
Total and Permanent Disablement
Total and Permanent Disablement occurs when, through illness or accident, you are unable to return to work. That is, the type of work you are qualified by training, education and experience to perform.
Permanent disablement can result in a dramatic lifestyle change. Expenses may increase through medical and hospital costs, while income may decrease or cease. This type of cover can help you meet your medical costs and maintain your family’s quality of life.
Life cover can minimise the financial disruption to your spouse and family in the event of your death. This type of cover can help your family maintain its lifestyle and quality of housing as well as meet educational and other major expenses.
What Should You Do?
Imagine being in a position to not have to face financial ruin if you or a loved one were to suffer a serious health problem.Take the worry away by speaking to Lindale Insurances Pty Ltd Financial Planners on 03 9848 5933 or contact us now.
We will review your life insurance needs with you and provide cost effective ways to protect you and your loved ones’ from some of the perils that life can sometimes throw up.
Call us on 03 9848 5933 or use the button to contact us now.
This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider a Product Disclosure Statement.