19
January
2018

Income protection insurance

Importance of income protection insurance

Insurance is the least exciting aspect of financial planning but arguably the most important. One of the biggest causes of financial hardship is loss of income due to injury or illness. Very few of us are able to go a significant period of time without income and would be under severe financial stress if we were not able to work for an extended period. Income protection insurance is available to provide us an ongoing income in the event that we are unable to work due to injury or illness.

It is possible to fund income protection premiums from Superannuation if cash flow is an issue. 

If we had a mate who was driving around an uninsured car, we would call them an idiot.  The financial consequences of not being able to work are potentially far more dire and many of us don’t have income protection insurance to cover this 

Author; Alex McKenzie Categories: Future Financial Services Blog

About the Author

Alex McKenzie

Alex McKenzie

Owner at Future Financial Services

Past:

  • Paraplanner at Zammit Partners Investments
  • Unit Trust Administrator at Colonial First State

Education

  • University of Western Sydney
  • Penrith High

About

As a Financial Planner I help people to achieve what they would like in life. This involves helping you to identify the things in life they would like , developing plans to help achieve them and strategies to protect what you already have. We do this by providing Financial Advice to guide you through your life stages.

The financial planning process involves determining a clients current situation and financial objectives and tailoring strategies to assist in best achieving those objectives.

I am an expert in superannuation, investments and insurance, these are tools we use to help you achieve your goals.

I aim to use my knowledge of superannuation, taxation and Centrelink to efficiently use your assets and income to achieve your financial goals.

Retirement and pre-retirement planning, wealth creation, asset protection, insurance planning and estate planning are all areas of advice that I provide.

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