This is where as an adviser, I’ve sat down across the table and the eye’s have rolled, saying here we go again.

You know what, it probably is a good idea, she has been thinking what if?

Especially 'what if you're not here?'

The unfortunate reality guys, you are the ones who both object the most to insurance and die the earliest. My experience, in general terms, is the girls find something wrong and get it checked out, the guys, they ignore it until it becomes a problem no longer able to be easily fixed. There are exceptions, but this is a significant reason why life cover for females is generally cheaper than the guys for the same age.

Ok so you think insurance is a waste of money. I hope it is, but what happens if the wheels fall off before you are financially independent?

Normally when I get someone who is not open to talking about insurance I move on to someone who is, barriers about insurance are often too deep rooted, there are plenty of people who do want to look after their risks. But for the sake of their families I’ve put this together.

Everyone dies and 1 in 3 people will have a critical illness or disability before the age of 65. The older you are the more likely it will happen.

Insurance doesn’t pay.

Let us stop and think about it, how does the insurance industry survive if they do not pay? If they did not pay, they would be run out of town, just like the builder with shoddy workmanship is soon found out and features on Fair Go.

Yes yes, there have been situations where insurers have had their time in front of the Fair Go cameras, but these are usually isolated cases rather than the majority of situations. No matter how good your product or service is, there will always be cases where things haven’t gone quite to plan. Everyone loves a good insurance company beat up, entertaining? No, reinforcing the often negative perception. Insurance actually does a lot of good most of the time.

When it comes to the government and insurance, the government supports and encourages insurance companies. This is not because of the tax income, though this is significant. It’s because insurance relieves some of the financial burden the government does not have the resources for. Government support only goes so far.

Insurance is also part of a healthy economy, picking up the financial slack when adverse issues develop for people so they manage through and get back on their feet again.

Yes you pay tax, though this usually does not translate your expectations into reality.

The Government is there to provide a frame work for society to work in, while it does pick up some social support for those in real need, this isn’t at a level most households operate at. It is basic support for those who are less fortunate in society and as a modern caring society we pay taxes to help those in need.

If you’ve read this far, you’re considering insurance and you’re probably not one of those in real need. You’re part of those that work hard, pay the bills and get on with life. The issues you face are real but different to those without. Think about it, who is going to front up and pay your debts and put food on the table when you're not here?

Your insurance will.

For example, you are 30 now and you need $250,000 to meet your debts and funeral costs, if you fix this for 50 years it will cost you $60 per month. Pretty good deal if you pass away in the next 50 years, you get paid $250,000 and at worst it may cost you $36,000. A pretty good deal to protect your family.

The challenge is facing the reality, this stuff happens. It will happen weather you talk about it or not. If you talk about it and put some cover in place and it happens, you're going to be in a far better position financially than if you didn't have anything at all.

The unfortunate reality is things happen, and to people not suspecting it. A few things that have happened in the last couple of years around me:

• 62 year old pass away with cancer
• 65 year old diagnosed with cancer
• 42 year old diagnosed with cancer
• 45 year old with a snapped achilles tendon
• 50 year old with a non cancerous tumour
• 40 year old with a degenerative neurological condition
• 35 year old going through testing for multiple sclerosis
• 65 year old diagnosed with diabetes and hypertension
• 60 year old diagnosed with cancer
• 57 year old diagnosed with cancer
• and I can list quite a few more that I've missed.

Yes ok a lot of these people are older, but that's what's ahead. If you get your cover now when you're healthy it can be a lot cheaper in the long term and it probably will not have exclusions either. Meaning it will have a better chance of being there and paying when you really need it.

All of the people above have said, I wish I had more cover or some of that other cover, because they now know.

Have an open mind and make an informed decision that will enable you and your family to continue, when there are challenges to your health, to have the things you work hard for in life.

If you have a decent adviser; at the end of it you should know where you stand so you can make decisions for you and your family. If you do, they have done their job.

As an adviser, sitting down with a client and arranging their cover so that, financially, everything they want to be taken care of, when the wheels fall off, will be taken care of, is a great feeling.

Can you say that about yours?

If not, get in touch and we’ll sort it out so you do.