Preparing for a life emergency

07 Feb Preparing for a life emergency

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We’re all responsible for our own affairs and the future wellbeing of our family. Planning for an emergency and the resulting long-term impact is part of that responsibility.

That’s why it’s advisable to make preparations.

Preventative measures

As the saying goes, prevention is better than cure, so it’s good planning to stay active, healthy and have regular health checks based on the advice of your doctor. A 2008 OECD report indicated that the move to healthier lifestyles offered a great opportunity for improving health as we age, with particular emphasis on increased exercise.

This should include a strong focus on maintaining a healthy weight. Obesity in Australia: a need for urgent action, a report by the Australian Government Preventative Health Task Force (June 2009), noted that “health problems related to excess weight impose substantial economic burdens on individuals, families and communities”. The report further notes that in 2008, obesity resulted in:

  • 242,033 Australians with type 2 diabetes
  • 644,843 Australians with cardiovascular disease
  • 422,274 Australians with osteoarthritis

30,127 Australians with colorectal, breast, uterine or kidney cancer

Preparing for the unexpected

Unfortunately, it is still possible you may be injured, killed or develop a life-threatening illness.

While the number of road deaths decreased from 9.4 deaths per 100,000 Australians in 1998 to 6.9 in 2008, that was still 1,464 deaths . There were 124 work-related fatalities in 2009-10, including 13 bystanders . In 2007-08, 134,835 workers compensation claims were made for serious illnesses or work-related injuries, a rate of 13 claims per 1000 workers . And cancer was the underlying cause of 41,952 deaths in Australia in 2009: 29.8% of registered deaths that year.

So it’s important to be prepared, to ensure that if something does happen, you and your family won’t face financial hardship in addition to significant stress.

Life insurance with Yes Insurance Solutions.

  • Life cover can pay a lump sum if the life insured dies or suffers a terminal illness where death is likely to occur within 12 months.
  • Critical illness cover can pay a lump sum benefit if the life insured suffers one of the defined critical illness events.
  • Permanently unable to work cover can pay a lump sum if the life insured suffers a sickness or injury which means they are permanently unlikely ever to be able to work again. It will also pay a lump sum if the life insured suffers from a Major Physical Impairment as defined by the policy.
  • Circumstances differ so it’s important to determine how much life insurance cover you need. Factors to consider include whether you are single or married, if you have children and your financial position.

Yes Insurance Solutions will put together information to help the young and single, young couples, young families, maturing families and empty nesters determine their appropriate cover. There’s additional information available at Lifewise, an initiative coordinated by the Financial Services Council and supported by the Life Insurance industry.

Other factors to consider include whether couples should take out cover as individuals or combined. And of course you will need to check your eligibility and make sure you read the Disclosure Statement and Policy Document (PDS) that Yes Insurance solutions will provide you once your policy is set up.

Understanding life risks and the impact they can have on you and your family are an important part of preparing for a life emergency. Life insurance is one way to get you through those difficult times.

It is your responsibility to protect your love ones

Please call us for a Free Quote or a Policy Health Check 1300 512 229


 

 

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