financial advice that safeguards the future
Tom and Sarah, late 30s
When our adviser suggested income protection as part of our protection portfolio, Tom was pretty hesitant. He’d always been as fit as a fiddle and hadn’t taken a day off work in 15 years. But the statistics were pretty convincing. For example, our adviser told us every working Australian has a one in three chance of becoming disabled through illness or injury for more than three months before turning age 65. After hearing that, I was happy to pay the premium just for peace of mind.
But it ended up being much more practical than that. Last year Tom had a stroke and couldn’t work for six months. That’s when the income protection kicked in, helping us pay for medical expenses and cover the cost of daily living. We were all dumbfounded that it had happened to us. But apparently 60,000 Australians suffer from stroke each year.
Having an adviser during this time was amazing. Finances were the last thing we wanted to be worrying about so it was great knowing we had someone on our side, helping us stay on track with our budget, our investments and our retirement savings.
Of course it was an appalling experience but it could have been even worse if our finances had gotten out of control. Now at least Tom’s better and a relaxing retirement is on the horizon.