Renowned American businessman Harold Geneen once said that uncertainty will always be part of the taking charge process. So far in 2011, we’ve witnessed the unfolding of quite a number of unexpected natural events around the globe.
From the devastating floods in Queensland and Victoria, the frightful bushfires in Perth, the earthquake in Christchurch, and most recently, the shocking earthquake and tsunami to hit Japan. The common theme of all of these catastrophic events is the loss of wealth they cause for those who are affected – from lost income, to loss of property and more tragically, loss of life.
The benefit of having a good financial plan in place is that it prepares you for the unexpected. Insurance in a time of trauma won’t make the situation any less stressful. However, it can aid individuals and their families to recover quicker than what they would if they didn’t have a wealth protection strategy in place.
Given the alarmingly high level of underinsurance in Australia, we encourage all Oculus clients to speak with their advisers about their insurance coverage options. Having the right type of insurance in place is important. Some things to speak to your Oculus adviser about include life cover, TPD insurance, trauma, income protection and business expenses insurance. Given your present circumstances your Oculus adviser will determine what the most suitable option for you is.