Insurance | Why we should ask ourselves the hard questions

As a busy mother of two, I have a range of hats including taxi driver, cook, psychologist, housekeeper, teacher, cleaner, facilities and renovations manager, home CEO, sleep coach and receptionist! And those jobs don’t include my day job and life as a blogger! It was only recently when I flew into Wellington with my hubby while on holiday and the pilot aborted our landing that I got thinking about life insurance. Sure, it would have been too late in the case of my plane above, but other priorities and just being plain busy – seem to take precedence.

Similarly, if you are between the age of 17 and 59 you might also have priorities on your list aside from life insurance.

Here are a few scenarios for a typical life plan

In your 20s

In your early twenties you might be thinking about how to pay for university. In your late 20s you might be returning from world travel and trying to get back on your feet after all the fun you’ve just had in Thailand, the Mediterranean and Vegas!

In your 30s

In your 30’s you might be trying to cover the cost of your first baby including those over-priced nappies, baby clothes and those exorbitant childcare fees if you have to return to work.

In your 40s

In your 40s you might be working hard to pay off a mortgage and you might start putting money away for retirement.

In your 50s

In your late 50s you might be making plans for escape as a Grey Nomad. You might be thinking about how you will live for a year while travelling around Australia in a campervan! At the same time, you will still want to have money leftover for life when you return home, helping the kids out financially and buying presents for your grandchildren.

But what if life didn’t turn out exactly how you planned it?

No matter what life plan you are following you have probably never thought of Trauma Cover Insurance.

Most of us don’t want to think about bad things happening. But sadly, for many good people in the world, bad things happen. Most people think ‘it’ll never happen to me’ but sadly – it does.

That’s why it is a good idea to think about how you might pay for the complexities of your current lifestyle and plan, should an unfortunate life event occur.

We don’t like to ask ourselves hard questions like these

What if you:

• Had a car accident and ended up in a coma
• Inherited a rare heart condition and needed bypass surgery
• Found out you had cancer
• Suffered a heart attack one day while out for a jog

The thought of such tragedy happening if often too much to think about and most of us just put ideas like this out of our because we might be ‘tempting fate.’

But if you look at this list – wouldn’t it put your mind at ease if you knew there was a way to cover life’s expenses should something happen?

Consider these scenarios

If you couldn’t work you wouldn’t be able to pay for:

• The mortgage, grocery bills, utilities, credit card payments etc.
• Big business expenses should you work for yourself
• Replacing your salary if you are in paid work
• The high medical bills associated with an accident or health trauma
• Costs associated with paying for children and their education

Put yourself first

When people think about insurance they often only think about insuring their materials possessions in their lives like their home, car and contents insurance. What most forget is that these material possessions wouldn’t even exist if we weren’t able to work to pay for them!

If you are considering insurance be sure to place value on your own life and well-being before any other type of insurance. Click here to find out more about trauma cover insurance and how you can protect yourself and loved ones in the event of a life trauma.