How much insurance is appropriate?

1. Can you protect your total income?
Yes you can.

2. How much will you earn before you retire?

If you are earning $100,000pa and have 30 years to retirement, your total income from working is worth $3 Million, plus inflation, plus investments in Superannuation. Total could be more than $5 Million. You wont need to insure this much, but this is what the insurance will be protecting.

3. We believe in keeping to a budget for personal insurance and making it your first spending priority. Remember, that without income you cannot pay for health insurance, car insurance, living costs, loan repayments.

4. So if your income is $111,000pa, including super, would you be prepared to spend 3% to protect your income? This would be approx $300 per month? Yes, I want to protect my income, due to the large amount at stake. No, as I believe nothing will happen to me. Maybe, depending on the actual cost.