What Are Your Chances??
- By Wayne Lennan
- •
- 20 Mar, 2019
- •
According to the Bureau of Statistics, every man and woman in Australia spends around $15-$20 a week gambling, whether it be lotteries, scratchiest, a day at the races, lotto or the poker machines.
The odds of winning the lottery are about 100,000 to one, winning on scratches is about the same if not higher. Of winning lotto (that is, getting six numbers right out of 42), the calculation is the following multiplication 42x41x40x39x38x37 = ? Let's just say it is several tens of million to one.
And the odds of suffering a serious or debilitating illness are a lot shorter than most wagering choices. For example, the odds of winning a Powerball game are put at around one in 55 million, and the monthly cost is around $61.10.
However, the odds of suffering an injury or illness that leads to three months of more off work are one in THREE. To gain protection in that circumstance (that is, a $5,0000 a month income protection policy), the monthly cost would be around $66 (agreed value standard policy, payable to age 65, for a 35 year old white collar professional).
Some more disturbing 'odds' for you to consider courtesy of The Australian Government.
The chance of a male contracting cancer before the age of 75 is one in THREE, for a female its one in FOUR. The chance of a 40 year old getting coronary heart disease in the future is one in TWO for males and one in THREE for females.
So why do people spend $15 - $20 per week on lotto, with a one in eight million chance of winning, while still remaining underinsured? Perhaps Australians are uneducated about the importance and value of insurance and believe it will never happen to them.
If you were the one in three people to get sick how would you financially survive?
Don't risk your future and everything you have worked hard for. Make sure you have insurance so you and your family will be ok.
If you don't have any insurance or would like some advice please give me a call on 0412 494 243.
The odds of winning the lottery are about 100,000 to one, winning on scratches is about the same if not higher. Of winning lotto (that is, getting six numbers right out of 42), the calculation is the following multiplication 42x41x40x39x38x37 = ? Let's just say it is several tens of million to one.
And the odds of suffering a serious or debilitating illness are a lot shorter than most wagering choices. For example, the odds of winning a Powerball game are put at around one in 55 million, and the monthly cost is around $61.10.
However, the odds of suffering an injury or illness that leads to three months of more off work are one in THREE. To gain protection in that circumstance (that is, a $5,0000 a month income protection policy), the monthly cost would be around $66 (agreed value standard policy, payable to age 65, for a 35 year old white collar professional).
Some more disturbing 'odds' for you to consider courtesy of The Australian Government.
The chance of a male contracting cancer before the age of 75 is one in THREE, for a female its one in FOUR. The chance of a 40 year old getting coronary heart disease in the future is one in TWO for males and one in THREE for females.
So why do people spend $15 - $20 per week on lotto, with a one in eight million chance of winning, while still remaining underinsured? Perhaps Australians are uneducated about the importance and value of insurance and believe it will never happen to them.
If you were the one in three people to get sick how would you financially survive?
Don't risk your future and everything you have worked hard for. Make sure you have insurance so you and your family will be ok.
If you don't have any insurance or would like some advice please give me a call on 0412 494 243.