Many people don’t know where to start when it comes to personal insurance.

If you’re accumulating wealth…
The key to building up your wealth, whether through regular saving, buying your first home, increasing your super contributions or investing directly in shares, is to maintain and even increase your income.

So what would happen if you were suddenly no longer earning?

Cardiovascular disease – including heart, stroke and blood vessel diseases – affects one in six Australians (3.7 million) and it prevents 1.4 million people from living a full life because of disability.

This is where income protection insurance (also called salary continuance) is worth considering. It allows you to receive up to 75 per cent of your income should you be unable to work for a period of time. It protects your wealth accumulation strategy while you recuperate, and you may also be able to claim the premiums as a tax deduction.

Cancer Council Australia – Facts and Figures www.cancer.org.au/about-cancer/what-is-cancer/facts-and-figures.html, February 2015