Why insurance is important-the real benefit to you and your family

Discover the importance of insurance and why it plays a central role in your financial condition, helping to ensure financial safety for you and your family when needed most.

Securing Your Greatest Asset – you!You secure your car and your home. But nothing more important than life and your ability to make a living. So it makes good sense to secure your greatest asset – you!
As we go through life, find a partner, raise a family, and be able to start trading, the importance of insurance in a long-term plan increases. That’s because insurance is all about providing a financial safety net that helps you take care of yourself and the people you love when you need it the most.

5 reasons why Insurance matters

Why is insurance important? Look at the five main reasons.

1. Protect you and your family

Your family depends on your financial support to enjoy a decent living level, which is why insurance is especially important when you start a family. It means that the most important people in your life can be protected from financial hardship if the unexpected happens.

2. Reduce stress during tough times

None of us know what lies around the corner. Unforeseen tragedies, such as illness, injury, or permanent disability, even death-can cause you and your family to face tremendous emotional tension and even grief. With insurance in place, your financial stress or your family will diminish and you can concentrate on restoring and rebuilding your life.

3. Enjoy financial security

No matter what your financial situation is today, an unexpected event can see it all will unravel very quickly. Insurance provides a payment so that if there is an unforeseen event, you and your family can expect to keep progressing.

4. Peace of Mind

There is no amount that can replace your health and wellbeing – or your role in the family. But at least you can be assured to know that if there is anything happening to you, your family’s financial security is backed by insurance.

5. Legacy Left Behind

A one-time death grant can secure your child’s financial future and protect their living level.

Case study

Tony and Karen-Young family

The following scenario is only illustrative to demonstrate the importance of insurance and not based on an actual event.

Tony (34) and Karen (33) recently upgraded to a new home to allow their two twins Nicholas and Rocky (4 years old) to have more room to play. This also means receiving a larger mortgage on an income, as Karen is a housewife. In order to protect his family, Tony decides to buy insurance protection.

In a simple game on Saturday afternoon of backyard cricket with twins, Tony is stumbled and broken leg. What seemed to be a simple disruption was more complicated than the original realized and Tony required some regenerative activity than a physical therapist.

That means Tony has left the workforce for more than six months, and while his master is sympathetic, Tony has only two weeks of sick leave for him.

Thankfully, Tony’s income insurance, which means that he has received a payment flow equal to 80% of his regular salary (including Ultra). The couple needed the waist to tie the belly a bit until Tony returned on his feet but they were able to keep up the loan debt repayment, which would not be possible if there was no income protection.