Did you know it’s a scientific fact that people who have more birthdays tend to live longer? Whether it’s simple coincidence or not, it might be a good idea to ensure you have as many birthdays as you can. Next time you sit down with a finance broker, it may well pay to talk insurance.
Yep, we get it! Insurance is the very last thing you want to think about when you’ve already shaken hands with your mortgage broker and made that home loan yours.
Why bother yourself with negative thoughts – after all, it’s much easier to tell yourself: “It won’t happen to me!” But while insurance might not be your favourite topic, it’s an essential part of intelligent financial planning that you’ll have to consider.
Why do I need risk insurance?
No one needs insurance – until they need it. As comforting as it might be to tell ourselves that we’re the exception to the rule, the fact is that if you own or plan to own property and used a mortgage broker to get a loan, risk insurance is a vital part of planning for the worst.
It’s impossible to know what could happen – you get sick or injured, your business could be robbed or go bankrupt, or you might even get flood damage to your home. There’s no point in wallowing in potentialities. But if the worst happens, you’ll want to know that someone’s got you and the people that matter most to you covered, and that you’ll be able to get back on your feet and continue as normal.
Risk insurance gives you the ability to manage some of the risk you carry when you own property and have loans. Getting the right insurance policy means you can lower your chances of falling behind on payments, defaulting on your loan, or at worst succumbing to financial ruin when calamity strikes and threatens your finances. Ask yourself, isn’t this piece of mind worth it?
What types of insurance can I get from a finance broker?
There are many different types of risk insurance out there that you’ll want to consider depending on your situation. One such type is life insurance. It may seem morbid to think about, but you want to be sure that your loved ones will be financially protected in the case of your passing, particularly if you are the primary bread-winner.
A good life insurance policy could put your children through school, pay off your mortgage or even help cover funeral costs so your family doesn’t have to think about finances at such a trying time.
Likewise, you might also want the type of insurance that will protect you in case you’re no longer able to work. Total and permanent disability insurance and critical illness insurance can protect your salary if for some reason you’re not able to work anymore, or can only work less hours.
Finally, business insurance might be the way to go if you’re a small business owner or just starting out. It could be theft, loss, breakdowns or plain old run-of-the-mill damage to equipment and the facilities that impacts your financial situation.
Having insurance in place means you won’t have to turn to another lender and pay added interest on your loan. Instead, you can focus on getting your business and mortgage repayments back on track.
How Premium Finance Group Australia can help
Getting the right insurance is critical. But equally important is the ability to compare so you know you’re not paying too much for the insurance you need. When next seeking out a finance broker in Sydney or Townsville, consider Premium Finance Group Australia. We’ll give you an insurance comparison that will help you find the risk insurance policy suited for you, and at an affordable price.
To make things easy, quotes and cover can be organised while we complete your loan requirements. With access to some of the industry’s most competitive insurers, saving you money and providing you with cover is the goal.