Your income earning capacity is probably your largest asset and is worth insuring - not sure what you're worth to your family, ask your partner.

A journey worth planning for

Like a road map, a financial plan can help you decide where you want to go and how to get there. There are various ways to achieve your financial goals. Your road map can also help you avoid danger and roadblocks to your achievements along the way.

At the outset, you may be uncertain about how you will reach your long term goals, for example enjoying a comfortable lifestyle in retirement.

You may not have considered what would happen if a misfortune occurred in your lifetime.

It's tempting to put the risks you might face to the back of your mind and assume they cannot happen to you. But understanding the potential obstacles to your goals can help you put into practice strategies to make these risks work in your favour.

When planning for your financial future, consider how your family and dependents would cope financially if you died. Will they be financially set up to meet important financial commitments like home loan payments, child care or even the most basic necessities?

Life insurance can help secure your family's financial future. In the event of your death or upon diagnosis of a terminal illness, Life insurance plans can provide a lump sum benefit that can be used in many ways, such as:

• paying off the home loan or ant other debts
• funeral costs
• child care and home help, or
• provide an investment reserve to generate future income for your family and other dependents

The possibility of becoming totally and permanently disabled in your lifetime is more likely than many people realise. In fact, the Australian Bureau of Statistics reported in 2004, that 1 in 16 Australians had a severe or profound core activity limitation. This means they require either occasional or continued assistance with self-care, mobility or communication. For many this would affect their ability to work.

Tragically, the onset of such disability can be sudden and the financial ramifications severe.

Total and Permanent Disability Plan (TPD) or Activities of Daily Living Plan can help you to cope financially and maintain your quality of life if you become totally and permanently disabled. A lump sum payment can be provided to assist in many ways, such as:

• helping to pay for rehabilitation costs or for changes to your lifestyle, such as refitting your home
• enabling a partner or family member to reduce their work hours to care for you
• paying for professional carer
• providing funds to repay the home loan and other debts, or
• creating an ongoing income stream for the future