– Life insurance outsources financial risk
Wealth protection assurance: some questions to consider
Have you ever stopped to think about how those people, who are rendered unable to work through illness or injury, cope with their future, provide for their financial stability – and that of their family?
Do you hear news about accidents that leave people permanently disabled and wonder how they cope, obviously needing funding to provide for their (and their family’s) financial security?
Most people we discuss these issues with either quickly realise the value of taking the outsourcing route to protect their wealth/ future financial independence; or tell us that either:
- They have sufficient assets to provide for their needs (without of course, undertaking the intensive ‘needs analysis’ we can perform to ensure a proper understanding of the cover required);
- They can’t afford insurance (without comparing the cost of the premiums payable against the cost of a need arising in the absence of such insurance); or
- The insurers will find a reason to not pay out when the claim arises.
Wealth protection assurance: using TPD Insurance
Yes, we are talking about insurance here: specifically about TPD Insurance 1. An objective analysis of your situation will soon establish whether any of these excuses release you from the obligation you have to those dependant on you – and the chances are that you will soon realise that, more than likely, none of them is valid. The wealth you have accumulated for the future benefit of your own independence; and for the financial security of your family, could be at risk if your ability to attend to the various responsibilities you have, both physically and mentally, are impacted by accident or illness.
Wealth management is a holistic process: it requires income generation; savings plans; spending on a monitored-budget basis; risk management; investment strategy; and estate planning. Wealth protection assurance will enable the nest egg you have accumulated to be stabilised – and if adequately provided, continue to grow.
Wealth protection assurance guidance and advice is available
The experienced team at Continuum Financial Planners Pty Ltd, delight in providing holistic advice; and implementing and supporting the goals it is set to achieve: risk management is a core part of that process. We encourage you to review your insurance portfolio with one of our skilled advisers and to ensure that your wealth accumulation process is working successfully towards you being able to discontinue your TPD cover at an appropriate time of your choosing.
1 TPD Insurance is Total and Permanent Disability insurance