Are your family, friends or adult children part of the large percentage of Australians who are under-insured? Here’s a simple guide to stage-of-life insurance priorities.
You likely have a sense of financial comfort. You’re feeling healthy but are aware that you’re entering an age bracket in which heart attacks, strokes and other serious illnesses can strike.
This is arguably the most important stage for personal insurance, whilst building a retirement fund, paying down a mortgage and supporting children.
Life insurance should be the priority. Also consider a mix of, Income Protection, TPD or Trauma. If you’re self-employed, discuss Business Overheads cover, which looks after fixed operating expenses if you can’t work due to illness or injury.
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1 http://ricewarner.com/rice-warners-latest-underinsurance-research-report/
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This document contains general advice. It does not take account of your individual objectives, financial situation or needs. You should consider talking to a financial adviser before making a financial decision.