This is about taking care of your family at times when you get sick or hurt and can't work anymore or it's your time to head up to the heavens. Yep, the big D - as in Death.
You guessed it, this is about insurance. Specifically Life, Trauma, Total & Permanent Disablement (TPD) and Income Protection.
I have been in the industry for about 5 years now and I am by no means an expert, but the stories you hear are incredible. Some can be incredibly amazing and some can be incredibly sad depending on each situation.
The amazing stories are like those families who have been given cheques shortly after losing loved ones and how it has helped them. The incredibly sad ones are friends of advisers who have passed on and had no cover.
Insurance is basically taking care of your family when you can't anymore for whatever reason.
I have grown up in a culture where insurance is seen to be a non-essential. When people die, families and friend pull together and help the family in need through it. The community helps and that's how it has always been. We all know the money is just a small part of it all. Sharing grief, being there for each other and the strength of family is far more important.
The reality is that after everyone has gone home, the bills still have to be paid.
I know that if we include insurance as an essential, we can concentrate more on what we can offer emotionally rather than worrying about what you can give or what people will give financially.
You will see and hear a lot of hype. There are a lot of companies out there selling similar products with various bells and whistles. The main thing is that you get the right advice for you. Do the research (read the fine print) or find a professional who will do it for you. Even if you do the research, get the professional advice you need. If you're unsure, ask questions and don't sign up to anything until you are 100% happy with it.
The financial services industry is seriously regulated, so make sure the person you see ticks all the boxes. Be forthcoming when asking for qualifications etc. When they make recommendations to you, ask about the company's history, reputation with paying claims out and ask specifically why this company suits you compared to others.
Make sure the advice you get is personally fitted to you.
- Do the research or get professional advice
- Make sure the advice is personalised
- Ask questions
I know you are thinking I can't afford a professional but this can as important as having a midwife when you're having a baby. You may not like what is happening but the end result is worth it all.
Whether you believe in a next life or not - there is peace of mind knowing that your family is being take care of when you are not around any more.
This is about far more than the money. This is about taking care of your family matters, so they don't have to.
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