Young, Smart and Insured Part 2: You Only Live Once

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Young, Smart and Insured Part 2: You Only Live Once

As young people we may believe that we are indestructible, and basic Personal Insurance seems like the last thing we may need – it’s sold for our parents and the elderly, not us. Personal Insurance may be something you have never considered, but when tailor made to your individual lifestyle, it can be a lifesaver.

Keeping Healthy – More than Avocado on Toast.

A common misconception is that health insurance is for older people and it can sometimes be marketed as such – but knowing exactly what it covers can end up saving you thousands in costs you were unaware of. The reality is that basic health insurance can be just as vital to people under thirty – potential even more so than older generations. Health insurance can cover emergency dental work, push you ahead of cues for much needed treatment, and even cover you financially when the unexpected happens.

In a similar vein, Permanent Disablement Cover offers a one lump sum that can be used to provide the best medical care for recovery and adjustment, improving access to a workplace or home among other things. When a traumatic event or illness comes out of the blue, Trauma Insurance allows you to focus on recovery, rather than income stress following a traumatic event.

Keeping the Income Coming

Another aspect of personal insurance that we may overlook when we are younger is protecting our income. Whether it is buying your first home, or incurring debt for the things we love, it’s important to insure yourself so that when life throws its curve balls you aren’t left finding yourself in a difficult financial situation. Mortgage Insurance can help cover your mortgage repayments if you find yourself in receivership or with a long term injury, and Income Protection provides ongoing income support for up to 75% of your monthly income so that you can concentrate on recovery.

In It for Life

Life insurance may seem like it is for older people, but if you are a young family with a first home, life insurance can be crucial to helping your vulnerable family survive if an unexpected loss should occur. Life insurance gives you peace of mind knowing that things are taken care of for your family, including covering the mortgage, a child’s education, and other bills to help remove stress during the grieving process. Premiums are usually lower for younger people as well, so a smaller investment to cover the once you love can be a worthwhile asset.

For the Right Advice, Talk to an Advisor

Insurance advisors help mould your insurance plans to your individual lifestyles, weather you are in a stable nine to five, or forming your own path as a freelancer an advisor can offer a quote that best works for you – at a no obligation, free consultation.

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Daniel Vernon