The Sunday Telegraph (Sydney) - Body and Soul - - B + S | LIFESTYLE -

Many of us have home con­tents, health and car in­sur­ance, but when it comes to per­sonal in­sur­ance such as life and in­come pro­tec­tion, we seem to not want to know – but we should, says Amanda Cas­sar, ad­vi­sor at Gold Coast fi­nan­cial ser­vice Wealth Plan­ning Part­ners. “It may not seem im­por­tant when you’re healthy, but what will hap­pen if this sud­denly changes? Who’ll take care of you and your fi­nances?” she asks.

Cas­sar sug­gests speak­ing to a fi­nan­cial plan­ner re­gard­ing your in­di­vid­ual sit­u­a­tion, the type of cover re­quired and the amount that you’d need to see you through.

In­surances are gen­er­ally cheaper when you pay the whole year in ad­vance so if you can af­ford to do this, it’s worth­while. It’s also worth check­ing your su­per to see whether any life in­sur­ance is in­cluded ( this is of­ten the most cost-ef­fec­tive way of hav­ing it) or can be paid out of your fund to free up cash flow.

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