Many people think of insurance in terms of protecting the things they already have.
But insurance isn’t just for where you are now: it can also help you get where you want to be.
Here are some examples of how it can keep your financial life on track.
Home ownership
Owning a home of their own is top of many people’s financial plans, but getting there can often involve quite a lengthy period of saving.
If anything were to happen to your income during that time of saving hard, it could push your goal further away, or out of reach entirely.
If you were off work for a period of time due to illness, would you be likely to find that you had to tap into your home deposit savings to keep your household afloat? Or would you be forced to abandon your saving plans entirely?
Income protection, perhaps combined with trauma insurance that would pay out a lump sum if you suffered one of a number of serious medical conditions, can be an excellent safety net for savers. They can ensure that even if your life doesn’t go exactly as you expect over the next few years, insurance could help your house deposit savings remain on track.
This also applies to any other big savings goals you’re working towards – they can all be sidetracked by any event that reduces or removes your income for a period of time. But insurance can step in to help.
Your business
When your business is growing and you’ve got big plans, you probably imagine that nothing can stop you. But could something outside your control get in the way?
Businesspeople need adequate insurance protection to keep their growth going. Do you have business continuity insurance to help keep you going even if you couldn’t open the doors? What about key person insurance, in case something happened to a key member of your team just when you needed them most?
As insurance advisers, we can talk through the options available to you to make sure your business is appropriately protected.
Your career
Lots of people have big dreams for their careers. But that usually requires being able to turn up to work pretty reliably. If you were ill, and unable to get immediate attention in the public health system, would you struggle to keep up with the demands of your job?
Health insurance can help you to ensure that you get any medical needs attended to quickly, so you’re back to normal work – or sport, or family life – as quickly as possible.
Your kids
If you have children, you probably have big ideas about what you want for their futures.
Do you imagine them going to university? Buying homes or being able to travel the world?
If your dreams for your kids involve a bit of cash from the Bank of Mum and Dad, you may need to make sure you remain in a position to provide that.
Income protection insurance can be important to keep money coming into the household for these sorts of expenses, while life insurance policies can be used to help a remaining spouse make it happen, even if you’re not there to see it.
We’re here to help
Like to talk about how insurance can keep you on the road to your dreams? There are a range of options available and we can help you find the solution that fits your circumstances, now and into the future. Please don’t hesitate to contact us.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.
