When we’re healthy, and things are going well, it seems easy to prioritise how we spend our money day-to-day. A recent study found 72% of participants had comprehensive car insurance, and 62% home and contents. But why did just 22% have life insurance and 12% income protection?#
The world is currently going through an unprecedented time. For most people, their greatest asset is the ability to earn. And while it is hopefully short lived, there are many examples of how difficult life could be without an income. So, unlike your car, home or phone – which are relatively easy to replace, it might make sense to consider the cost of replacing ‘you’.
No one wants to think about leaving people behind. But the fact is many people each year also can’t support their families, because they’ve had an accident or suffered an illness. This could mean they either can’t work for a short period or can’t ever work again.
Have you ever worked out how long it’d take before your savings were uncomfortably low, or your credit cards were maxed out? Studies suggest around 50% of workers under 35 wouldn’t be able to survive 1 month without an income, before needing to sell their assets^. Perhaps consider:
For when you need it the most, our insurance cover could help if you:
# Source: Pureprofile Insurance Report 2017, April 2017
^ Source: Zurich whitepaper ‘Australians and life insurance: misinformed, misinsured’ February 2014