Insurance: who needs it? Well, chances are, you do. And even if you’re feeling fit and invincible right now, you’ll be doing yourself a big favour by protecting you and the people you care about from the financial fallout of something bad happening to you.

There’s a common perception that insurance is something you can deal with later in life. But there are problems with taking this view.

First up, it’s generally way easier to be approved for insurance cover when you’re young. Many people find that if they leave applying for insurance until they’re middle aged or older, they may have developed what the insurance company call ‘risk factors’ (such as being overweight, developing high blood pressure or contracting a long term disease or medical condition). If this is the case, it’s much harder to be approved for cover at all – and even if you are offered cover, the insurer may impose a ‘loading’ on your premium, meaning you pay significantly more than the standard rates.

On the other hand, if you take up insurance when you’re young without the complication of risk factors, while ever you continue to keep the cover you pay the regular premium – regardless of whether you develop any risk factors later in life.

There are different kinds of insurance policies available to cover different kinds of risks. These include life insurance, total and permanent disablement insurance, trauma (critical illness) insurance and income protection insurance.

Have a chat with us about which type of insurance matches your needs. We can explain what’s involved in each, and recommend which policy and insurer you apply for. We can even help you with making your application. Contact us today to learn more.