It produces a $5 note every 15 mins and works 8 hours a day, that’s $58,400 a year!!
It has a working life span of 30 years, that’s $1,752,000 ($1.75 Million) !!!!
Insurance for this money making machine costs you just 1 of those $5 dollar notes each day (it produces $160 daily).
Having the insurance means that if the machine breaks down its fixed and if it stop’s working completely its replaced so that it lasts the full 30 years.
Who wouldn’t insure it right?
Now imagine that the money making machine is you, how much do you produce a day, a year over your working life???
Do you have insurance in place to protect and replace your income if you stopped working?
We seem to have an obsession with insuring machines/objects yet seem to put less/no emphasis on insuring ourselves.
Things that prevent loss of income can and do happen Life insurers in Australia paid out over $5 billion in claims in 2012!