Your Money
Money tip #10 – insurance
by Peter Switzer
Insurance is an often overlooked aspect of financial welfare, but for those with significant assets or wealth to lose in the case of disaster, it’s an absolute necessity.
A financial planner can assist with providing information and setting up insurance policies. They can also help ascertain what type of cover is suitable for you.
If you own your own house, home insurance will protect the asset in case of fire, flood or other disaster, and contents insurance would cover the items within it. For drivers, comprehensive and third party insurance will cover you should you get into an accident in your vehicle.
Everyone is different and the insurance you require completely depends on your individual circumstances. Research your policies thoroughly before signing up and read the fine print to ensure you are covered in the worst of times. The product disclosure statement of any policy is a must-read before you sign anywhere!
Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.
Published on: Wednesday, January 04, 2012
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