Tough Talk

We all know that buying any form of personal insurance seems like a ‘Grudge Purchase’!

However, have you ever considered the impacts of NOT having any or enough personal insurance? Well, let’s consider some of those impacts if you don’t!

The impacts of NOT having any or enough personal insurance include:

  • Dependants not being cared for properly
  • Having to rely on family
  • Having to pay for rehabilitation expenses or medical expenses
  • Having to pay for funeral expenses
  • Having to sell the family home due to mortgage stress
  • The stress of having to go back to work while either still in rehabilitation, or
  • Still grieving, having to rely on government welfare payments which can be as low as a quarter of the average wage

We can list all the stats – which don’t lie, but just to make the point:

  • 21% of all Australians stop work before the normal retirement age, due to ill health. Source – ABS Stas 2018-2019.