By Steven Sansovini

Every Australian is exposed to the possibility of misfortune. Whilst insurance can’t prevent illness or injury from occurring, it can help you manage and even eliminate the financial consequences these events can bring.

Consider the situation where a young family moves into their dream home, after 6 months the main income earner suffers a heart attack. His cardiologist recommends 6 months off work at which time he should return on a part-time basis, there is also an additional treatment that would improve his recovery but it’s not covered by Medicare or private health insurance. Being a young family with a significant mortgage, without suitable insurance, this situation would cause severe financial stress and may result in this family being forced to sell their home.

A qualified and experienced financial adviser would have recommended and arranged suitable and affordable income protection and trauma insurance which would have provided a lump sum and a regular income while not working. The client would then only need to worry about getting better.

The amount and type of insurance you need depends on many factors such as your age, your marital status, the number and ages of your children, your income, the level of debt you hold and other personal circumstances.

Your circumstances are unique, so it makes sense to get personalised advice from an experienced and qualified financial adviser. The good news is that it won’t cost you any extra compared to obtaining insurance directly with the insurer.

Steven Sansovini is a Financial Adviser with Optimal Financial Services; he will help you work out how much and what type of insurance you need. His commitment is to act in your best interest, and to act honestly, professionally, and fairly in the provision of financial services.

You can contact Steven Sansovini on 0421 025 116 or contact our office for an appointment.