Why Don’t Australians Protect Their Income?
Before I get started, I want to make it clear that I don’t currently sell or make any commission from “income protection insurance”.
In other words, this is not a product flog.
I’m just concerned about an Australian statistic that needs to improve……..
83% of cars are insured. “This is apparently close to the highest rate in the developed world”.
87% of household (contents) are insured. “Again, this is right up there when compared to other developed countries”.
77% of houses are insured. “This is also apparently high but it does seem low to me given the high cost of replacing a house”.
Less than 31% have “Income Protection Insurance”???
For many of us, our employment income is more important than our car, contents or even the roof over our heads. Much of what we have is reliant on our income. Why wouldn’t you insure it?
I suspect that most people don’t realise their income can be insured. Hence this email.
If you already have this insurance, good on you. However, if you are in the majority and don’t have income protection insurance, I know a couple of insurance brokers/financial planner that could meet with you.
Just shoot me an email if you would like their details.
PS: In many cases the Government encourages this insurance by allowing people to claim the premium as a tax deduction.