Financial Security and Asset Reduction
Protecting Your Loved Ones and Assets
As a responsible lending assistance provider it is our obligation to ensure that you have a capacity to service your loan in an unexpected life event, which can have an impact on your ability to make loan repayments. We strongly recommend that you seek advice from your own financial or legal professional or speak to one of our insurance specialists.
AN UNINSURED ASSET IS A FUTURE LIABILITY
Most people would not dream of leaving their home or car uninsured but the asset that pays our commitments and helps us achieve the lifestyle we want, our income is left uninsured. We spend thousands of dollars each year insuring house, contents, car, health fund but cringe at spending money to protect our income. The greatest asset for anyone: their income and their life.
It is easy to think of this in terms of a car. You run into a Mercedes in an uninsured car, get sued and your capacity to pay your debts and commitments could be greatly impaired. Same can be said for your income; if you get sick or injured and lose your income for a period of time your ability to meet your commitments may be impaired affecting your family’s future.
At Dreamhouse Investments, we want to help our clients achieve their dreams, as well as protect themselves and their assets. Therefore, we strongly recommend that our clients seriously look at the potential risks of having no insurance in place, and what could happen to them and their loved ones if they leave their life and income uninsured.
Income Protection Insurance
Payable if you are unable to work at full capacity, or at all due to sickness or injury. The payment type can be a monthly replacement income. You will need it if you would find it difficult to maintain your lifestyle without your regular income.
Term life Insurance
Payable on your death or terminal illness. The payment type can be a lump sum payment. You will need it if you have any debts and/or dependents.
Payable if you suffer a specified medical condition. The payment type can be a lump sum payment. You will need it for the security of payment in the event you suffer from a debilitating medical condition.
Total & Permanent Disability Insurance
Payable where you are unable to ever work again due to sickness or injury. The payment type can be a lump sum payment. You will need it if you have any debts and/or dependents.
[Courtesy; Spectrum Wealth].