Managing Personal Risk…
A family is more than a group of people we are related to or connected with in some way. It is also an economic unit, typically with different contributions from different members of the family.
At Triplejump, we encourage families to think about the roles people play and the dependencies that exist. We will help you think about how your family would cope – in practical terms and financially – if the unexpected occurred and there was a sudden loss of family income. There are four key risks to consider…
Premature Death
Premature death can create serious financial disruption for surviving family members and dependents.
Permanent Disablement
Total and permanent disablement can be a catastrophic event that creates substantial financial cost and loss of income. Especially because the disabled person remains a consumer but may not be able to earn income in the future.
Temporary Disablement
Most people who suffer disablement recover and regain the capacity to work. In the meantime, however, they may face cash flow challenges.
The Requirement for Medical Treatment
At some stage in our lives we are likely to need medical treatment. The costs of this can be substantial.
Your Triplejump adviser will explore with you the options your family has to cope with any of these eventualities. We’ll talk about…
- The financial impact. What does your family need to maintain the way of life you currently enjoy?
- The practical impact. How would the family cope if one or more of you was not able to contribute as they do now?
- The adjustments you might make as a family – in the short or longer term – to cope with changed circumstances.
- Your assets and liabilities: your capacity to absorb a financial impact.
- The different options available from the insurance companies.
With all of that information, we will prepare your family’s financial risk management plan. Your risk management plan will be a living document that we will review with you regularly to reflect your family’s evolving circumstances. And should the day come when you need to activate your plan, we’ll be there. Helping to implement the provisions you made.
At Triplejump, no matter what life brings,
we’ll help you ensure your family’s financial security is provided for.
