Preparing for a life emergency

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We're all responsible for our own affairs and the future wellbeing of our family. Planning for an emergency and the resulting long-term impact is part of that responsibility.

That's why it's advisable to make preparations.

Preventative measures

As the saying goes, prevention is better than cure, so it's good planning to stay active, healthy and have regular health checks based on the advice of your doctor. A 2008 OECD(i) report indicated that the move to healthier lifestyles offered a great opportunity for improving health as we age, with particular emphasis on increased exercise.

This should include a strong focus on maintaining a healthy weight. Obesity in Australia: a need for urgent action, a report by the Australian Government Preventative Health Task Force (June 2009)(ii) , noted that "health problems related to excess weight impose substantial economic burdens on individuals, families and communities". The report further notes that in 2008, obesity resulted in:

Preparing for the unexpected

Unfortunately, it is still possible you may be injured, killed or develop a life-threatening illness.

While the number of road deaths decreased from 9.4 deaths per 100,000 Australians in 1998 to 6.9 in 2008, that was still 1,464 deaths(iii) . There were 124 work-related fatalities in 2009-10, including 13 bystanders (iv). In 2007-08, 134,835 workers compensation claims were made for serious illnesses or work-related injuries, a rate of 13 claims per 1000 workers (v). And cancer was the underlying cause of 41,952 deaths in Australia in 2009: 29.8% of registered deaths that year(vi).

So it's important to be prepared, to ensure that if something does happen, you and your family won't face financial hardship in addition to significant stress.

Life insurance from Allianz can help.

Circumstances differ so it's important to determine how much life insurance cover you need. Factors to consider include whether you are single or married, if you have children and your financial position.

Allianz has put together information to help the young and single, young couples, young families, maturing families and empty nesters determine their appropriate cover. There's additional information available at Lifewise, an initiative c oordinated by the Financial Services Council and supported by the Life Insurance industry.

Other factors to consider include whether couples should take out cover as individuals or combined. And of course you will need to check your eligibility and make sure you read the Allianz Life Plan Product Disclosure Statement and Policy Document (PDS).

Understanding life risks and the impact they can have on you and your family are an important part of preparing for a life emergency. Life insurance is one way to get you through those difficult times.

i Sassi F, Devaux M, Cecchini M, et al., The obesity epidemic: Analysis of past and projected future trends in selected OECD countries, in OECD Health Working Papers No. 45. March 2009, Organisation for Economic Cooperation and Development. Available from
ii Obesity in Australia: a need for urgent action Including addendum for October 2008 to June 2009, Prepared for the National Preventative Health Taskforce by the Obesity Working Group
iii Road Deaths Australia, 2008 Statistical Summary, Department of Infrastructure, transport, Regional Development and Local Government, Australian Government
iv Notified Fatalities Statistical Report, Safe Work Australia, 2009-10
v Key Work Health and Safety Statistics Australia, Safe Work Australia, 2011

vi Causes of Death, Australia, 2009, Australian Bureau of Statistics