I wish I was taught that at school

Your greatest asset is actually NOT your house, it is your ability to earn an income. So, if we all protect our house with appropriate insurance, why don't we protect our income?We sat down with Melissa Goodman, financial advisor from Carnbrea and Co, to discuss the 'ins' and 'outs' of personal insurances. Don't fret! We've keep this somber topic pretty fun and entertaining.Melissa says the first thing to consider is, "How might your lifestyle be impacted if your income were to change?" Unfortunately, the overwhelming majority of Australians are underinsured.Key topics discussed include:Income protection insurance - what is it, how does it work, and how much am I covered for?What is the difference between cover inside and outside my superannuation?Life, total and permanent disability, and trauma cover - how are they different, is there a minimum cover I need?How often should I review my policies?Is it expensive?Melissa often sees clients who wait for a trigger event to set up their cover. Use this podcast as