Let's be really honest here. It doesn't take long to realise that life never quite works out just the way we planned.
To suggest it's unpredictable - is an understatement.
Call it chance, accident, fate or even serendipity; sh!t happens. Ok now that's out in the open, and we're being honest, the point we're making is life just happens to us all and some things catch us all off guard. How we deal with hard times makes us human, how we plan for those potential hard times makes us successful.
When hard times happen remember it's not personal - its just the statistical realities; its the numbers of life
How to plan for the reality of risks in our life
When hard times happen, you can't take it personally as if it's directed solely at you and your family or even your business. The statistical reality is that we all suffer ups and downs in ways we never expected. That's why we use life insurance products as a safety net, just in case.
- This insight is supported by big data and carefully kept statistics about the chance and probability of what happens to how many people.
- Small to medium business owners have additional risks when working with multiple people.
Obviously, everyone's circumstances are very different. People who drive cars are more at risk of being in a car accident than those who don't drive. If only life was that simple and predictable — it isn't. In 2016 sadly 176 pedestrians were killed in traffic accidents in Australia.
Time for a straightforward conversation about the numbers
We believe that core to protecting and providing is having an honest understanding of the numbers of life so we can all have the opportunity to put a backup plan in place if something unexpected happens.
Now if you're the type of person who upon hearing this immediately reaches for an anecdotal story 'about a friend's grandmother who's still alive at 95 and still smoking a pack of unfiltered cigarettes a day'...so smoking really isn't a risk to anyone like we're told...' we probably aren't going to get along so please click here to go somewhere more appropriate.
The good news is (if you're still reading) you do have the opportunity to help prepare for many of life's ups and downs so that when the hard times arrive you, your family and even your business are able to survive them.
Life happens by The Numbers.
What are the chances of you needing to claim on your personal insurance policy in Australia?
- 1 in 3 chance of needing to claim for Critical Illness insurance
- 1 in 4 chance of needing to claim for Income Protection insurance
- 1 in 10 chance of needing to claim for Life insurance or Terminal Illness
- 1 in 20 chance of needing to claim for Total and Permanent Disability (TPD) insurance
Jump to facts about:
- How many families lose a parent each day?
- What are the chances of you winning Lotto or Powerball?
- What are the leading causes of insurance claims?
- What are the risks of diabetes in Australia?
- What are the risks of doing business with multiple people?
What does this mean for Australian families?
In 2014 there were 11,237 unexpected deaths of married people between 15-64.
- This means 31 families per day unexpectedly lose a family member
- Given that 48% of families have at least 1 dependent child, this means 15 families every day with a dependent child, will lose a parent
What are the chances of you winning Lotto or Powerball?
- Chance of getting 6 winning Lotto numbers 1 in 8,145,060
- Chance of winning Powerball 1 in 76,767,600
What are the leading causes of insurance claims?
Of the 4 classes of personal insurance available, Life insurance, Total and Permanent Disability (TPD), Medical Crisis and Income Protection, these are the leading reasons for claims being made on these personal insurance policies.
|The leading causes of insurance claims|
|Death||Total Disability||Medical Crisis||Income Protection|
|Heart Disease||Cancer||Heart Disease||Mental Illness|
|Respiratory Disease||Mental Illness||Neurological Disorders||Cancer|
Diabetes in Australia
275 Australians develop diabetes every day
- 56% are males, and
- 44% are females
- Around 92% of people with Type 2 diabetes were 45 years old or more
- 45% were 65 years or older
The additional risks for business owners working with multiple people in business
|The odds of a business partner dying or becoming totally disabled before age 65|
|Number of |
|Chance of 1 partner |
dying before age 65
|Chance of 1 partner |
dying or becoming
totally disabled before age of 65
|2 partners||35 in 100||52 in 100|
|3 partners||47 in 100||67 in 100|
|4 partners||57 in 100||77 in 100|
|5 partners||66 in 100||84 in 100|
|6 partners||77 in 100||89 in 100|