Personal Risk Management

Here's a question worth sitting with for a moment: if something happened to you tomorrow, a serious injury, a serious diagnosis, or worse, what's the plan?

Who makes the home loan repayments? Does your partner keep the house, or does the loan force a sale at the worst possible time? Do your kids stay in the same school, the same home, the same life? If you're the one who'd need income replaced while you recover, where does that come from?

But here's the real question underneath all of that: do you want your family protected, no matter what happens to you? If the answer's yes, and it usually is, everything below is we can help you make that true.

At Ledgersmith Wealth, we specialise in exactly this, helping to ensure your family and lifestyle are protected no matter what life throws at you. Four types of cover, each solving one part of what you just thought through:

• Income Protection - if your answer was about the income stopping while you're off work, this replaces a portion of it so repayments keep going while you recover.
• Life Insurance - if your answer was about your family staying in the home, this clears the mortgage so they're not carrying that debt without you.
• TPD Cover - if your answer was about never being able to work again, this pays a lump sum so the loan doesn't become a lifelong burden on top of a life-changing injury.
• Trauma Cover - if your answer touched on a serious diagnosis, this pays a lump sum on conditions like cancer, heart attack or stroke, so you're focused on getting well, not on the mortgage.

And here's the part most people don't know: three of these four types of cover can often be funded through your superannuation rather than your take-home pay. For anyone feeling the sting of higher interest rates, that's the difference between "I can't afford this" and "my family protected no matter what."

If you'd like to have a chat with the team at Ledgersmith Wealth about what your answers mean for your situation contact us on 02 9542 4655 or enquiries@ledgersmith.com.au. The first conversation is free.