Ask yourself these quick questions

Do I need Income Protection and Trauma cover?

Most people don’t think twice about insuring their car or home – but when it comes to income protection and trauma insurance, they can’t justify it.

While the chance of your car being stolen and not recovered is 1 in 800 or claiming on your Home & Contents policy is 1 in 13, the chance of being disabled for over 3 months before age 65 is 1 in 3 and the chances of being diagnosed with cancer before age 75 are 1 in 3 men and 1 in 4 women*.

Ask yourself these quick questions –

• Could you meet your mortgage repayments without your income?
• Do you have sufficient savings to meet required living expenses over an extended period?
• Are you able to afford large medical bills from a major illness or accident?

Read full article Focus march 14