Take Life Insurance to mitigate financial unknowns
Why Life Insurance?
One concern that Australia faces as a nation is that of being under-insured, even for events that we know are almost inevitable. It is also the case with the one inevitable event! Mitigating financial risk by taking personal life insurance improves financial confidence – and is a comfort to families. Your financial independence and security is no doubt a high priority. Most people aspire to financial independence – whether they have dependants or not. It is also a concern of governments and other community leaders at a broader level.
Mitigating financial risk
Personal risk insurance is known by that name because ‘personal risk’ is what you seek protection against when you –
- outsource financial risk
- through contracts (insurance policies) with insurers, for –
- Death (term life) insurance;
- Income Protection (and/ or Business Expenses) insurance;
- Total and Permanent Disability (TPD) insurance; and
- Trauma (Critical Illness) insurance;
which are contracts insuring you personally against defined risk events that can occur without warning. This is a financial risk management strategy.
Life Insurance annually reviewed
We regularly offer each client the opportunity to review their personal risk insurance portfolio, This, –
- ensures protection of their family financial risk concerns,
- provides comfort that their investments/ wealth accumulation efforts will not be in vain
- in spite of some unexpected, as yet unknown insurable ‘event’ befalling them.
How to implement your risk management strategy
Continuum Financial Planners has published articles in our website Library that deal with how insurance contracts can strategically mitigate against financial loss. Particularly loss consequential to risks arising in particular circumstances. Some such circumstances are linked above.
For a review of your personal risk insurance portfolio with one of our experienced advisers, make an appointment by –
- phoning our office on 07-34213456, or
- at your convenience, use the linked Book A Meeting facility.
(This article was first posted by us in May 2010. It has occasionally been refreshed/ updated, most recently in February 2025.)
