HOW TO PROTECT YOUR PERSONAL WEALTH AND YOUR FAMILY

Did you know "only 55% of parents claim to have any form of life cover?"

This startling research was revealed by the IFSA (Investment and Financial Services Association) in their report "A nation exposed: closing the protection gap." Furthermore, the level of cover most of these people had was so low it did not even classify as adequate.

So why is this? The IFSA found there were two main reasons consumers rejected life insurance;

(i) Perceptions of the insurance industry

(ii) Supposed difficulties in getting cover

But on the contrary, the IFSA found consumers who did have adequate levels of cover reported a greater sense of trust in insurance companies.

What will happen to your wealth in an economic crisis?

It has never been more real that we are living in highly uncertain times. Our financial world is becoming increasingly complex; and changes are happening at a frightening pace. The strategy that worked so well yesterday is a complete misfit today.

With Australia set to face an economic downturn, the notion of a recession sets in as a reality. Understandably, we’re finding many of our clients asking themselves (and us) questions like:


1. Is my financial strategy still secure?

2. How can I be in the best position to weather the headwind we’ll be facing in years to come?

In times like these, Australians simply cannot afford to be under-insured or not insured at all!
Everyone needs a good protection plan, so debts can be re-paid in the event of an unexpected premature death or a permanent disability.

Why you need a wealth creation plan

A wealth creation plan starts with protecting the wealth you and your family have already built up. If your wealth plan is protected, then the overall success of this plan won’t be determined by your ability to work or to provide for your family.

The media are regularly confronting us with heart-wrenching stories of families (young and old) losing their homes due to unforeseen circumstances. As banks become stricter with their lending guidelines and criteria, it is inevitable that more and more people are set to become the victims of such stories. It is frustrating to know that if only these people had adequate insurance cover, many of these situations would have been prevented.

A good protection plan is carefully tailored to your situation and reviewed on a yearly basis. Remember, circumstances can change rapidly – call your personal insurance broker or financial planner to check your protection. We also have the expertise to design a wealth protection plan for you, tailored exactly to your needs, budget and circumstances. Don’t leave you and your family vulnerable - take action now!

SOURCE
http://www.articlesbase.com/wealth-building-articles/how-to-protect-your-personal-wealth-and-your-family-727325.html