Advice matters
Using insurance to protect your big life financial goals

Insurance can help at many stages of life. Whether you’re just starting out, or are well established financially, it can play an important role as part of your overall wealth and wellbeing.

But it can also have a crucial part to play when it comes to big life goals.

Insurance can keep you on track if something unexpected happens, offering you a safety net to help you keep working towards the things you’re striving for. Here are a few ways that insurance can step in.

Saving for a first home

Pulling together the deposit for a first home is one of the most significant financial endeavours that many people undertake. It often takes years of planning, saving and careful decision-making to ensure that enough money is put aside.

Of course, you may want to get your deposit together as quickly as you can, in case prices start to rise faster than your accumulation can keep up. However, sometimes it may not take a lot to knock you off course. If something happened that meant you were not able to work for a period of time due to illness, it could potentially set back your home deposit aspirations in a significant way.

This is where having insurance can help. If you know you’re saving for a significant goal, like a first home, income protection insurance can be very important. It’s there to step in and help you remain on track, even if your circumstances temporarily change.

Other cover types that pay a lump sum, such as trauma cover, could also be helpful to keep you moving towards your financial goal and could help avoid the need to raid your savings – and may also step in if it turned out that you might never be able to return to your former career and income. We can discuss how insurance can help back up your home-buying plans.

Planning for retirement

As you move towards retirement, you may be focusing on getting rid of debt and boosting your investments, to help fund your post-work lifestyle.

Insurance can be really important here, too. Just as it can help financially protect your ability to pull together a first home deposit, it could keep you on track for your retirement savings goals.

A well-crafted insurance plan can protect your savings from the financial impact an unexpected health event that requires either time off work or expensive, non-Government-funded treatment. Having the right type and amount of insurance could reduce the need to tap into your nest egg.

Health insurance can also be helpful, to allow you to access treatment on your terms should something happen to your health.

And last but not least, you may also find life insurance offers useful peace of mind, that your family could be financially taken care of should something happen to you before you’ve had the chance to complete your retirement nest egg.

Buying a business

Many people have owning their own business as a life goal. If you’re at the stage of acquiring or starting one, it can be a good opportunity to assess your insurance.

You might need to consider things like key person cover, and shareholder cover, to ensure that you have the protection you need to keep the business operating even if something were to happen to you or one of your important people.

Like to talk?

Whatever stage of life you’re at, we’re here to help you make sure that you have the right insurance cover in place. It can help you stay on track to achieve your next big goal, as well as protect the ones you’ve already accomplished. If you’re ready to check your cover is right for your needs, get in touch with us at or by calling 0508 2 SHARE.

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.