Living in Australia, you are constantly reminded about the dangers of the hard piercing sun. Daily sunscreen application is as important as cleaning your teeth every morning. That layer of protection will not only potentially save you from getting skin cancer, but also reduce the signs of premature aging.
This essential requirement to protect our biggest organ (being our skin), got me thinking about protecting ourselves financially. And this time I am not just talking about emergency money or a savings account. I am talking about personal insurance….which includes things like Income Protection, Trauma Cover, Life Cover and TPD. These different types of personal insurances are about as important for asset protection as they are for asset accumulation. Also having a quality policy is even more important, if you need to claim, you want it to be met and with no fine print loopholes.
I will be doing a range of videos covering this subject over the next couple of months, but we don’t realise that we ourselves are our biggest and most important asset. Think about it, your ability to be able to work, will provide you with food, shelter, clothing….not mention the other comforts beyond Maslow’s basic physiological needs, not just for ourselves but also to our family members and loved ones.
Becoming a parent, has never made more aware (and at times anxious) of my ability to protect and provide for Rocco both financially as well as emotionally in the event of something happening to me from a medical misfortune perspective. I want to know that if I couldn’t work, or was stuck in hospital (or worse, but I can’t type that right now), I can still be there for Rocco and that money is not a major stress and that I can focus on him and my recovery.
This is just food for thought right now, but I will be covering this in lots of new videos as it is something that you need to know about but will also help give you peace of mind.
Canna Campbell is the founder and director of SASS Financial Services, a boutique financial planning firm. She is a Channel 9 Financial Commentator, founder of financial media platform SugarMamma.TV and best selling author of The $1000 Project and Mindful Money.