Insurance is the least exciting aspect of financial planning but arguably the most important. One of the biggest causes of financial hardship is loss of income due to injury or illness. Very few of us are able to go a significant period of time without income and would be under severe financial stress if we were not able to work for an extended period. Income protection insurance is available to provide us an ongoing income in the event that we are unable to work due to injury or illness.

It is possible to fund income protection premiums from Superannuation if cash flow is an issue.

If we had a mate who was driving around an uninsured car, we would call them an idiot.  The financial consequences of not being able to work are potentially far more dire and many of us don’t have income protection insurance to cover this