Lesson type: Understanding investment philosophy

Real life happens

Craig spent his life helping others. He was a surgeon, teaching others and treating patients both in Australia and with the Australian army. However, after a near-deadly bike accident revealed a hidden disease, he found himself without a job, without income and without hope. Fortunately, his adviser pointed him towards insurance and Craig’s story changed from one of tragedy, to one of renewed purpose.

 
Want to learn more about Income Protection and Crisis Recovery? Watch Pina Sciarrone's commentary below.
   
How insurance let Craig live his purpose

Multiple sclerosis robbed Craig of his ability to perform surgery. With no known cure, Craig would have lost his income and his purpose. Insurance took care of his financial worries and allowed Craig to renew his passion for helping others through his teaching and training.

Why insurance is so much more than a pay out

If the worst happens and work is no longer an option, losing your income is bad enough. But when this often leads to depression, it can be crippling. By alleviating financial stress, insurance allows claimants to focus on themselves.

How crisis recovery and income protection worked together for Craig

When Craig had a bike accident and realised he’d be out of work for a while, income protection insurance gave him peace of mind. However, even with 75% of his income secured, the diagnosis of his multiple sclerosis added a host of medical bills to his worries. Crisis recovery insurance worked hand-in-hand with income protection in this case and allowed Craig to focus on recovery.

  AIA Australia Limited (ABN 79 004 837 961 AFSL 230043). These videos provide general information in summary only without taking into account factors like the objectives, financial solution, needs or personal circumstances of any individual. Any advice in the videos is general and is not intended as financial, medical, tax or other advice. Before acting on this information you should consider it in the context of such factors and whether it is appropriate for your client. An individual’s experience may differ from examples given in this video.  

The opinions expressed in this content are those of the author shown, and do not necessarily represent those of No More Practice Education Pty Ltd or its related entities. All content is intended for a professional financial adviser audience only and does not constitute financial advice. To view our full terms and conditions, click here.

Related lessons

Lesson type: Understanding investment philosophy

Decrypting crypto

Alex Burke

Cryptocurrency: I’d hazard a guess at least one dinner party conversation has been ruined by it, but what actually is it? What began as a means of t...

View Lesson >

Lesson type: Think like an investor

Demystifying active management

Alex Burke

Active management can deliver superior diversification and investment returns to your portfolios, but how do you choose the right manager - and the ri...

View Lesson >

Lesson type: Think like an investor

How being human makes it hard to manage money

Shayne Sommer

Marketers’ have been using behavioural concepts to influence our spending via product placement and pricing for some time, making spending less than...

View Lesson >

Lesson type: Understanding investment philosophy

Facebook: A contrarian's bargain?

Orbis Investments

The popularity of Facebook would turn off any contrarian investor, however has the recent controversy created an opportunity for the savvy investor? O...

View Lesson >

Lessons

Get the latest lessons

Enter your email address to subscribe to our Investment Series newsletter and we’ll let you know when new content goes live.

Please enter a valid email address.

Almost there!

Thank you for registering your interest in Lessons. . We’ll email you the latest content as it goes live. To complete the subscription process, click on the subscribe button below. An email will then be sent to you outlining steps to finalise your subscription.

We’re committed to helping you get the investment knowledge you want, so let us know what you’d love to see more of:

  • TV Show
  • Wealth Stories
  • Experts
  • All of the above

I have read and agree to the terms, privacy policy and financial services guide.