No financial plan is complete unless it considers the investor’s needs for life insurance and income protection insurance.

Insurance is an important, yet often overlooked, component of a financial plan. The purpose of your plan is to enhance your financial security by covering all the variables, including taxation, interest rates and inflation.

But one of the greatest variables is our own mortality. So it makes sense to arrange adequate insurance to protect your family or business, rather than risk losing everything you’ve worked for.

How much cover do you need?

Add up your outstanding debts, add a lump sum which can be invested to provide an income for your family, subtract your existing life cover(including superannuation), and the difference is how much insurance you need.

‘Term’ insurance (where almost all the premium goes towards death cover) is one of the most cost-effective ways of providing this vital protection. The other side of the picture is income protection insurance, which will pay you and your family an ongoing benefit if you’re unable to earn an income through accident or illness.

Income protection is an absolute necessity if you have debts such as a mortgage or business loan. Your ability to earn an income is your most important asset — so don’t leave it unprotected!

If you haven’t reviewed your cover recently, ask your adviser how life and income protection insurance can enhance your family’s financial security.

For more information, please contact:
Lynne Bowler
Authorised Representative
Charter Financial Planning
Licensed Securities Dealer ABN 35 002 976 294

Email: WinnReport@patwinn.com.au

Telephone: (07) 33233100

Copyright 2001 Winn Stone, All Rights Reserved.