Which is more important – your possessions or you?

It is a startling fact that Australians place more value on their possessions than their own lives. Research carried out on behalf of the Association of Financial Advisers (AFA) confirms this incredible statement with 44% of over 700 survey respondents having home and contents insurance compared to just 18% who have insured their life.

Compare those statistics to how often Australians suffer a major sickness:

  • every ten minutes, someone has a stroke;
  • every eleven minutes, someone has a heart attack;
  • one-third of women and one-quarter of men are diagnosed with cancer at some point during their life.

When you look at it like that you can clearly see why so many people experience serious financial stress when they get sick – but does it have to be that way for you?

South African heart surgeon Dr Marius Barnard pioneered the idea of trauma insurance when he regularly witnessed his patients’ families struggling with medical costs. The first policies were offered here in the 1980s. Put simply, trauma insurance pays a lump sum on diagnosis of one of a list of specific health conditions.

The key difference between this insurance and other types of life cover is that the payment is designed to support you and your family as you recover. Knowing that your financial commitments will be met will allow you to focus on getting the right treatment for your illness, giving you a better chance of beating it.

Also, unlike income protection insurance, you don’t need to be in the workforce to be eligible for trauma insurance. You can even take out cover for your children in case they suffer a major illness.

If you are one of the many Australians who place possessions before health and happiness, maybe it’s time to review that decision. Don’t risk everything you have achieved in life because you haven’t insured your most precious asset – you. Give us a call and we’ll help you find the most appropriate cover for you and your family.

Watch this Video where Simon Hall recounts his story of surviving a heart attack.  Being young, fit and healthy doesn’t mean it can’t happen to you.

 

Sources:

“Risking Everything”, AFA White Paper, June 2011 produced by CoreData for the Association of Financial Advisers.

National Hearth Foundation of Australia, Heart Attack Facts, www.heartattackfacts.org.au

Stroke Foundation, Facts, Figures & Stats,  www.strokefoundation.com.au

Cancer Council: Cancer in Australia: an overview, 2008 Australian Institute of Health and Welfare (published December 2008).  www.cancer.org.au

http://en.wikipedia.org/wiki/  Marius Barnard (surgeon)

Leave a Reply

Your email address will not be published.

NEWS

NOTICE: Regarding Unsolicited Emails

We have recently learned of unsolicited emails that are being sent out, claiming to be “Fusion Financial Services” which typically contain the subject line “Invoice Is Ready For [Insert Name].

While the sender may appear to be The Fusion Group, we want to confirm that this is not the case. The email includes a virus in the form of a Word document, claiming to be an invoice from Fusion. In the event that you receive an email that fits this description, close the message immediately and report it as spam.

Thank you,
The Fusion Group

Controlling your Self Managed Super

Self Managed Super Funds (SMSFs) continue to grow in popularity. What is the large appeal that prompts so many people to go their own way despite all of the obligations and responsibilities of being a trustee – and being regulated by the Tax Office? … more

Are Your Inactive Bank Accounts at Risk?

We’ve all heard about the “lost billions” sitting in idle superannuation funds around Australia but are you aware of what’s happening to hundreds of millions of dollars sitting in “inactive” bank accounts? Read on, you may be very surprised. … more