PROTECT YOUR FAMILY
Underinsurance epidemic...
Studies undertaken by the Insurance Council of Australia in 2011 indicated that, even after recent disasters, Australians were, in all areas, significantly under-insured in both personal and general insurance. In recent times, this gap has reduced but it still remains a significant problem.
Why is there this apparent reluctance to insure oneself and one's family against the financial losses associated with death, disability and incapacity? The answers to this question range from personal denial to a strong focus on long-term savings goals (eg, superannuation) that obscures the need for insurance in the present.
Any financial plan can be brought undone by the intervention of unexpected events. Premature death and disability can result in a financial plan not being achieved, as essential parts of the plan can no longer be funded. These events generally cannot be avoided, and their timing cannot be known. However, it is possible to provide for the financial consequences of these events, should they occur, by insuring against them.
Insurance. Can you get by without it?
Should you have it? Do you need it? Is it worth it? What's the difference between policies? And if you claim, is it paid? James Mathison looks for answers.
How long can you go without your income?
How can you protect your income? For a lot people, if something did happen, they'd find themselves in trouble pretty quickly.
Your insurer is your rehab partner
When you suffer a serious medical condition, you want your life back. You probably don't know the key role an insurance company can play in achieving that.
No.1 insurance rule: it has to be right for you
How much do we know about the insurance policies we have? Apparently not much, only 4 per cent of parents have the right level of cover.
Honesty is the best policy
You have to answer very personal questions when you apply for insurance. It can be confronting for some. But here's why it's so important.