Income & Asset Protection
Protecting you and your family
Protecting your income against external circumstances is one of the wisest financial decisions you can make.
Nearly 10% of Australians could not cover their living expenses for three months if their income situation suddenly changed. This can happen for a whole range of reasons – losing your job, getting injured, being in an accident and so on. If something unfortunate happened to you, would you be prepared for it?
Income Protection insurance is always a smart choice to complement your emergency savings – by investing in the peace of mind that you and your family will be able to make it through life’s challenges. As independent Income Protection insurance brokers, the team at Excel Financial Solutions can give you impartial advice on what sort of policy is best for you.
Sometimes life will knock you down hard – it is important to protect your assets while you get back on your feet.
When something unexpected goes wrong, it is important to have emergency savings or a ‘rain day fund’ to rely on. Depending on your circumstances the amount of money you need in emergency savings will change. A good rule is 3 months worth of pay if you are renting and have no children, 6 months of pay if you are a home owner with children and 9 months of pay if you are self employed or have irregular income.
Any form of debt like credit cards, car loans or a mortgage can quickly become a dangerous financial burden if your income stream dries up. Ask us what sort of asset protection policies are available to keep you and your family covered through any hard times.
Did You Know?
83% of Australians insure their car but only 31% insure their income!
Australians are heavily leveraged: average household debt is four times higher than it was 20 years ago. It is important to be protected with a good insurance policy and good savings in the bank.
Market research found that the average Australian saves $427 per month: how do you compare?
It is estimated that 15% of Australians are not saving anything at all: if this sounds like you, you’ll benefit from a consultation with one of our financial planners.