Wealth protection assurance relieves financial stress
– Life insurance outsources financial risk
Wealth protection assurance maintains the smiles of those financially dependant on you. Your ability to continuously provide income through all of life’s challenges relieve financial stress on the family unit. You may consider yourself invincible, but what if the driver near you has an accident that involves your vehicle? Or if the person you have just met with unwittingly passed on a debilitating illness? What if such events were to leave you totally and permanently disabled?
Wealth protection assurance: some questions to consider
People who are rendered unable to work through illness or injury need support to manage life generally? How do they cope with their financial future and provide for the financial stability of their family?
Do you hear news about accidents that leave people permanently disabled and wonder how they cope in their circumstances? Their need to relieve financial stress prevails in all circumstances?
Enquirers seeking wealth management advice quickly realise the value of taking the outsourcing route to financially protect their families. Outsourcing wealth/ future financial independence relieves financial stress in a more cost-effective way than claimed by some. Challengers to the outsourcing of this financial risk is often met with responses such as –
- 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.
Relief from financial stress: using TPD Insurance
Yes, we are talking about insurance here: specifically about TPD Insurance 1. An objective analysis will soon establish whether any of these excuses truly relieve the financial stress of your dependents. Chances are that you will soon realise that, more than likely, none of them is valid. The wealth you have accumulated for the benefit of your own and your family’s financial security, could be at risk. Your capacity to both physically and mentally meet you financial – and well-being goals, 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.
Life/ Income protection insurance will enable the nest egg you have accumulated to be stabilised. If adequate provision is made, it could continue to grow.
Wealth protection assurance guidance and advice is available
The experienced team at Continuum Financial Planners Pty Ltd provide holistic advice. Their service includes implementing and supporting the goals set in that advice. Risk management is a core part of that process. We encourage you to review your insurance portfolio with one of our skilled advisers. This process can ensure that your wealth accumulation process is working successfully and serving to relieve those financial stresses. It may even reveal that you can modify/ discontinue your TPD cover at an appropriate time of your financial journey.
To arrange a meeting with one of the team to discuss relieving your financial stress –
- call our office on 07-34213456; or
- at your convenience, use the linked Book A Meeting facility.
(This article was first published by us in September 2012. We occasionally refresh/ update articles, this one most recently in January 2025.)
