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At any stage in life, protecting your savings and the income you receive to fund these savings is critical to the achievement of any of your financial goals.
When people think of insurance they often think of protecting their valuable assets, such as car insurance, home and contents insurance or health insurance.
Additionally, whether you are young with no mortgage or dependants, have a young family, or established and have been working for a number of years, it is hard to imagine why products such as life insurance are really appropriate for you.
But for most people, their income is their most valuable asset. It’s essential to protect your primary source for achieving your financial goals and building your wealth – no matter what “phase” you are at in your life.
Income protection insurance can replace up to 75% of your pre-tax income if you’re unable to work due to sickness or injury. That means if you could not work for an extended period of time due to accident or illness, up to 75% of your salary would usually be paid for up to age 65 depending on the terms of your contract.
An added benefit is that you receive tax deductions for the fees you pay for this protection.
Verve Group can assess your personal situation and recommend policies that best suit your needs. We can also review your current policies to ensure they continue to provide an adequate level of cover. This is particularly important if your financial situation changes and extended coverage is needed for additional family members.
Talk to a Financial Planner at Verve Group today to start building your wealth for the future. Call (08) 8120 4877 or email: contact@vervegroup.com.au to book a complimentary initial consultation.