Planning Process / Insurance Risk
Insurance Risk
Insurance is a simple and inexpensive precaution to take against the financial consequences of premature death, a medical crisis, total and permanent disablement or temporary disablement.
Risk Management through insurance can be one of the most important facets of a financial plan.
Appropriate insurance will assist, should the unforeseen happen and you fall ill or even worse have a critical illness, become totally and permanently disabled or die.
Generally
- If a reqular income is lost through death or disablement, an amount equal to 10 times the previous salary is needed to support the family until the children are no longer dependent.
- Only 4% of families with dependent children have enough cover to provide that sum.
- It costs about $450,000 to raise two children to age 20 (even more for higher income families).
- It would cost about $70,000 a year to cover the cost of unpaid work around the home.
By setting in place appropriate insurance, should anything happen to you, you will still be able to achieve your goals.
Risk Assessment
Totally Integrated have qualified and experienced representatives able to undertake a complete review of your individual situation and provide a written report including recommendations.
Professional advise is available on:
- Life Insurance
- Income Protection
- Total and Permanent Disablement (TPD)
- Trauma Insurance
- Keyman Protection
To identify how much protection you need, you must first determine how much money you or your family will require should the unexpected happen. You should revisit this calculation each time your life changes significantly.
For an indicative amount of insurance that you may need please use our insurance calculator under useful tools. Select "read only" option. We recommend seeking professional advise to confirm an appropriate level of protection.
