Uncertainty Highlights Value of Cover
Uncertainty is an inevitable part of life. Perhaps that’s why insurance industry experts have frequently expressed concern about insurance levels in Australia. Industry figures consider under-insurance a chronic problem, with lack of income protection cover one of the greatest concerns. Many people are taken by surprise and fail to consider income protection insurance until it is too late. Incomes can be lost because of injury or illness at any time and there is likely to be little warning when those things happen.
Those with a mortgage or high debt levels, and those with families to support, are usually seen as those most in need of income protection cover. After all, it is those people who are most likely to be left in dire circumstances if they are left without a regular income and unable to meet their financial commitments. Insurance brokers can help explain the value of the right kind of coverage.