Lifebroker Asks - How long could you last without a job?
August 01, 2011 (PRLEAP.COM) Business NewsAustralians as a nation pride themselves on their "she'll be right" attitude, but when it comes to your income, can you afford to have this attitude?
Research prepared by Rice Warner indicates that over half of Australian families would run out of money, after only a single month without work.
This is an extremely worrying thought since the statistics for illness, injury and death speak for themselves.
Risk of illness: In 2004–05, an estimated 77 per cent of Australians had a long-term medical condition; that is, a disease or other health problem that had lasted, or was expected to last, six months or more. 
Risk of injury: Injury accounted for over 1 in 20 of all hospitalisations in Australia in the financial year 2005-06, with 400,000 admitted patient episodes that year. 
Risk of death: About 25 per cent of males and 15 per cent of females in 2005 were of persons aged less than 65. 
Australians are the first to admit they would struggle financially should their income stop due to a serious illness or injury. According to The Lifebroker Research Report 2010, nearly half of respondents said they and/or their family would 'not cope well' or 'not at all' financially, should they stop earning an income for more than three months due to injury, illness or death.
As we grow older, we come to realise these statistics aren't made up. Our friends and family begin to fall victim to serious illness and injuries. Taking out Income Protection Insurance can help you and those dependent on you rest easy at night with the thought they will be protected, no matter what the future will bring us.
When you start to consider whether income protection is worth the money, you need to ask yourself how long could you survive without your income?
 Rice Warner for IFSA, A Nation Exposed, August 2005
 Australia's Health 2008, Australian Institute of Health and Welfare Report, Chapter 2.3, Long-term conditions.
 Australia's Health 2008, Australian Institute of Health and Welfare Report, Chapter 2, Mortality,