Five out of ten males aged 25 years old are likely to become disabled due to an illness or accident that will prevent them from working for at least a month before they turn 65.
Seven out of ten females are likely to become disabled due to an illness or accident that will prevent them from working for at least a month before they turn 65.
Nearly a third of people unable to work for a month due to an accident or illness will be unable to work 12 months later.
Source: Davies Financial & Actuarial Limited
There is a 33% chance that you will be sick or disabled for six months or longer prior to age 60.
Four out of five long-term illnesses and disabilities are not covered by ACC. The areas of greatest concern are heart attacks, strokes, cancer and kidney failures.
Insurance lessens the financial impact of catastrophic events.If I had my way, I would write the word 'insure' over every door of every cottage and upon the blotting pad of every public man, because I am convinced that, for a sacrifice that is conceivably small, families can be secured against catastrophes which otherwise would smash them forever.- Winston Churchill
At Lyfords we recommend you set up your insurance in the following order:
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Lyfords purchases independent research on personal insurance to assist us with selecting a product to suit your needs.
The job of an insurance adviser at Lyfords is to guide you to choose the right policy and to provide you with the information you need in order to make the right decisions. For example; It’s not good enough to be told you are covered for cancer. That is too vague. If you are terminally ill with a brain tumour can you expect to be paid a trauma benefit? Maybe. If your policy covers you for benign brain tumours yes, if not no. Would you have known this without talking with an experienced adviser?