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Asset Insurance – The importance of Protecting your Assets

Are you one of the many Australians who think the standard insurance cover in your Superannuation will be enough to cover you if something unforeseen happens to you or your loved one? In this video, Marissa chats to Fiona from ALI about the importance of protecting yourself with asset insurance. 
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Asset Insurance – The importance of Protecting your Assets

Are you one of the many Australians who think the standard insurance cover in your Superannuation will be enough to cover you if something unforeseen happens to you or your loved one? In this video, Marissa chats to Fiona from ALI about the importance of protecting yourself with asset insurance. 
Share this article with friends and family:
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At Rise High we not only try to help you achieve your goals and dreams. We also try to ensure that you are protecting your assets and wealth that you’re creating for yourself.

What is Rise High’s Take on Asset Insurance?

Rise High Director Marissa recently caught up with Fiona from ALI Group to chat about the importance of insurance. What are the options people need to consider to ensure they are protecting their family and assets.

“I think one of the biggest issues we have in Australia when it comes to risk protection and insurance is that most of us are under this misconception that the cover that we’ve got within our super is adequate,” she said. “ Before I was in the industry, I was under that misconception. I always saw my super statement come once or twice a year. I saw that there was some sort of insurance there and thought, ‘oh, well that’s great, I’ve got something if something happens to me’”.

The policies also include some Total and Permanent Disability (TPD) Cover. This default cover that most of us have will provide our family with some protection if we die or become permanently disabled. But if something happens like a diagnosis of cancer, or if you suffer a stroke, or a heart attack the cover within your super is unlikely to be adequate.

“They don’t think it’s going to happen to them,” Marissa said. “I probably fall in that category previously where I thought I’m invincible and nothing is ever going to happen to me, I’m quite fit and healthy. But then, you know, one of the sad things about what we do, is that we have seen that clients have experienced these really unforeseen periods of trauma in their life.”

Protecting Yourself and Your Family

At Rise High we know first hand how important protecting yourself and your family is, regardless of your age. We recently had a client, a 28-year-old female, pass away within months of diagnosis from a very aggressive bowel cancer.

We’ve also recently had another client in his early 50’s, who has been diagnosed with terminal cancer. So, whilst it’s hard to talk about these things, the reality is it does happen, and it happens when we least expect it.

Knowing that these clients have actually been protected provides at least some comfort. Their families have been able to take time off work to be with them or they’re able to get some pay out to help with medical bills or medical expenses. It also creates the opportunity to experience some bucket-list dreams.

Having the right insurance can also mean something as simple as allowing people to stay in their own home. This is often not the case without adequate cover.

GoFundMe pages, which have become commonplace on social media are a reminder of the importance of insurance. There are so many stories of families who need to rely on raising funds within their friends, family, and community. This is just to get by when something unexpected has happened.

Current-affairs sometimes highlight a family fighting their super fund to get access under hardship, simply to stay in their house because they didn’t have any other cover.

Simply sitting down with a Financial Adviser is the best way to ensure your family and assets are protected. Unfortunately, only a small percentage of Australians go through this process of protecting their wealth and assets.

What We Do at Rise High

At Rise High, we give our clients the opportunity to have loan protection insurance. This is far superior to the cover within super. Loan protection insurance bridges that gap until clients sit down and go through that process with an advisor.

Loan protection insurance is affordable. This means that if something unexpected happens, you would still be able to stay in your home without financial pressure.

Protect yourself, your family and your assets through insurance. Let us help you when you come and meet with us and when you become a Rise High client.

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