DOING THIS ONE SIMPLE THING COULD CHANGE YOUR LIFE

With most of us leading busy lives, it is easy to fall in to the trap of following our day to day routines, without much thought of our plans for the future.

But doing this one simple thing could make a huge difference to your life.

And that’s to take a timeout and really think about your future.

What we see all too often, are people coming to see us when it’s too late. This is particularly the case when it comes to insurance.

Most people are under the false belief that they are covered through their super, or that their health insurance will be enough, or even that “it won’t happen to them”

This can be true in some cases, but more often than not, most people we’ve seen have been underinsured and falling in to debt because they didn’t take the time to think about their finances and develop measures to protect their wealth.

While most of us wouldn’t hesitate to insure tangible things, such as our house or car, it astounds me that people don’t protect their ability to earn an income.

Accidents happen, and unfortunately as we get older, more illnesses are diagnosed, some with the potential to prevent you from working for three months or more.

So what would you do if you were not able to work for a period of time? Would you be able to pay your mortgage, your bills, and your day to day living costs without an income?

Sadly, this is an all too common scenario. We’ve had people come to see us when they have fallen in to debt due to their lack of insurance. If they had simply stopped and thought about their future, and taken action to protect their wealth, this could have been avoided.

There is a common belief that taking out insurance is too expensive. However, for someone in the mining industry who receives an annual gross income of $65,000, you could pay as little as $26* a week in income insurance and be covered for $4,062 per month (75% of your income) if you’re off work, due to sickness or injury. *This cost was based on a clients specific occupation, annual wage & details given on the income protection application at the time of the quote.

If you are the sole income earner or main household earner, having income insurance gives your family a lesser risk of financial strain, by assuring you that you will still have a portion of your income coming in (in some cases, up to 75% of your income). The premiums you pay may also be tax deductible.

So take a timeout, and prepare for your future.

To find out more about your risk insurance options, contact Aperio Financial Solutions on (03) 9230 1500 or email info@aperio.com.au.