It’s interesting when we get asked What would you consider to be Your Biggest Asset, the majority of times it’s our Home right, how easy is that question?

Think about it for a second though. We all hear we are our biggest asset, well I guess we all know that, but what I actually mean is You are your biggest asset and without your health firstly, you’re no good to anyone, but more importantly as well, is if your health’s no good, this could impact your earning capacity, without your income how do you meet your expenses, your mortgage payments and continue to put food on the table?

For some who is aged 30 years old and looking to cease work at age 65 currently earning an annual income of $80,000, that equates to $2,800,000 ou will generate in your working time frame, this doesn’t even take into account pay rises either. Now that we look at the bigger picture, it would be fair to say that your income is your biggest asset. 

Hmmmm…. Pretty sure you just change your mind as to what your biggest asset is. 

Don’t get me wrong we all love our home and it’s important to us and we all generally insure our home if something happens to us, but so little people insure themselves whether this is for health insurance or insuring their income. If your income ceases, you’re earning capacity ceases and so does your wealth creation.

What outcome would you prefer if you couldn’t work short term or long term, either receive benefits from Centrelink or receive 75% of your gross income?

I don’t think I need to ask you your thoughts on this, let’s be honest it’s a no brainer.

The question you need to ask yourself is it worth insuring your biggest asset being you and your income? If you can’t work again, you have effectively retired early, don’t place yourself with this financial burden, take action and look to insure the one thing that matters, YOU!