It's usually your ability to earn an income that will allow you to invest and eventually create wealth (provided you invest well and don't make mistakes with your money).
If you have an average income, then over your working lifetime, you will end up earning between $2m and $4m. Staggering, isn't it?
I'll bet you have insurance for your car, something that may be worth between $10k to $50k. But do you have insurance to protect your income earning capacity which can be worth millions of dollars? Probably not. Most people don't.
Why is this?
There are 2 reasons:
1. Most people don't think anything bad will happen to them.
2. Most people don't appreciate the value of their income as much as they appreciate material assets.
The problem is that the best wealth planning will come undone if your cash flow is interrupted due to an illness or injury. In addition, as you get older, it becomes more expensive to buy insurances, so it's not smart to leave it too late.
The second problem is that once you develop a pre-existing condition, you may not be able to buy insurance when you need it.
You really shouldn't compromise on this important "wealth protection strategy" by winging it or by opting for the cheapest option.
This is an area where it can really pay to seek proper advice.
Because your future wealth depends on it.