A Personal Risk Management Plan – Do You Have One?

Risk Management Plans don’t only apply to businesses – every person and family should also have a plan to help them cope in the event of an unexpected crisis.

No doubt you have insured your car as the risks of damage are obvious to you on a daily basis. You will almost certainly have insured your home and contents against fire, burglary or storms. But what about your greatest asset: your income?

Statistics show that at a working adult earning an average income is worth more than $3.3 million[1] over a 40-year full-time career, assuming no increase in earnings. How would you cope if your family’s primary income earner met with serious illness or accident?

Unfortunately statistics also show that the risks are greater than generally recognised. Look at these:

Your Risk Management Plan

Professional guidance is crucial in establishing your risk management plan. You need to consider the extent of your financial commitments and review what assistance may already be in place. This may include insurance cover within your superannuation, employer protection, existing insurance policies or other sources.

Fortunately a range of insurance policies are available to cover the risks you confront. These include:

Talk to a licensed financial adviser soon and prepare your Risk Management Plan… just in case.

Get in touch with us and talk to one of our advisers.

[1] Calculated as Full-time Adult Average Weekly Total earnings $1,608 x 52 weeks x 40 years.


For Your Information: National Heart Foundation of Australia www.hearfoundation.com.au

This communication has been prepared on a general advice basis only. The information has not been prepared to take into account your specific objectives, needs and financial situation. The information may not be appropriate to your individual needs and you should seek advice from your financial adviser before making any investment decisions.