The end of the Financial Year is approaching and many families are feeling high levels of stress. This is especially true for white collar finance professionals, self-employed, or both.
Every year, you see the signs around this time. A man who seems to work all day, a mother who is so busy trying to take over the husband’s slack that she has to be late picking up her children from after-school care. This is the second instance this week.
Worse, are the bags under your eyes, the short fuse, and the tension. Oh, the tension. It’s thick enough to cut with a knife. He’s probably been eating greasy take-out food while he’s gone late, and you suspect that he has started smoking again.
Every year you manage to get through, and your family heads off for a weekend in July. It’s not too far, it’s July, and he might be called back immediately, but you can still take a break before you head towards Christmas.
For some reason, this year, the hours are longer, the stress is higher, and the knife edge is sharper than ever before. Then, you get the call. It’s that call. It is the one that gets you out of your annual reverie.
Your husband just suffered a heart attack. He was rushed to the hospital by an ambulance.
You will find that he is stable and no immediate danger of death has occurred by the time you reach him.
This is when your fear really sets in, because you know him. He’s starting to worry about his health and how he can relax.
You must now realize that if he doesn’t take a break, he will have another attack, and that the rest of his life will be permanent.
According to medical professionals, many heart attacks can be reversed by returning to work within 4 weeks. Some people return to work as soon as two weeks.
If I have a heart attack, I can tell you that my wife will not allow me to return to work within a very short time.
My favourite resort in Fiji, Musket Cove would be my 3 month vacation. Consultations with a dietician, post-heart attack specialist and a personal trainer would be included. Massages would be offered, and I can guarantee that she will not allow me to sit down at a computer.
Yes, there would still be expenses at home that we have to pay while we are away. Loan repayments, memberships, insurances etc etc.
Although it would be nice to have the money to cover all of this, we are a family just like everyone else. The majority of the money we make goes to our lifestyle, paying our bills, and saving for retirement.
Trauma Insurance is something we have that many families don’t have. Trauma Insurance, also known as Critical Illness Cover, pays a lump sum to the victim of a major illness.
Among the most common causes of claims in Australia are Heart Attack, Cancer and Stroke. But there are many more.
Contrary to Private Health Insurance, you can decide how much payout you would like based on the premium you are willing to pay.
It is important to determine how much coverage your family needs. A Financial Planner with specialisation in insurance can help you here. You should not assume that all Financial Planners will do this, so make sure you ask.