Have you fully insured your biggest asset?

For most people their biggest asset is their future income. This is the asset that will pay off your home loan, meet your living expenses and fund your retirement. Yet most people have not insured their income.

Have you insured your car? Ironically most people have car insurance but not income protection insurance. The average car insurance sum insured is $25,000. The average income protection sum insured is over $3,000,000.

For most people the net cost of income protection cover is less than car insurance. As a rule of thumb the net cost of income protection insurance is 0.6% of salary. So this mean to inure someone on a $100,000 salary, the net cost is around $600.

So our suggestion is, for peace of mind, take out comprehensive income protection insurance cover. If you need some assistance please contact us at advice@precisionfinancial.com.au