Take Charge of Your Money

A general chat about insurance with Terence Tobin

March 14, 2022 Brendan Dale Season 2 Episode 1
Take Charge of Your Money
A general chat about insurance with Terence Tobin
Show Notes Chapter Markers

Take Charge Of Your Money podcast with Brendan Dale
Season 2, Episode 1 - 14 March 2022


Sponsored by Naked - The new way to insure your stuff

This is just a general chat about insurance. What it is and why it's so important. My guest is Terence Tobin from Rich Ideas and you can find him on Twitter @terencetobin and you can also book a free introductory chat with him to see what he can do for you.

Apologies for the sound quality on this episode, I am slowly getting better at this ;-)

Main topics discussed:
0:00 Podcast into and thanks to my sponsor
1:47 Isn't it a waste of money? 
3:30 What is insurance really?
4:42 Income protection is super important
6:51 How do I know what insurance I need?
8:10 Policy documents are overwhelming
10:30 How to choose an insurer
12:40 How do independent financial planners work?
15:22 Reassess annually

What is insurance?
In short, it's a tool to manage risk. There are many things that could happen to us or our belongings, that will effect us financially. Insurance is a way to mitigate that risk in that we pay a monthly fee to an insurer who will then carry that financial burden should something happen.

In this chat we're really just covering some basic concepts and the rest of the Season will unpack all the major types of insurance that we may need to consider.

Terence specifically mentions Income Protection as a vital insurance product, here's more on how that works.
All about Income Protection

More on insurance
I have a ton of articles on my blog about insurance. Go to the Insurance topic from the menu and scroll through the articles.
All my insurance articles

Learn about personal finance
Over 20 curated articles to read in sequence to help you start your personal finance journey

Get an instant insurance quote from Naked

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Isn't it a waste of money?
What is insurance really?
Income protection is super important
How do I know what insurance I need?
Policy documents are overwhelming
How to choose an insurer
How do independent financial planners work?
Reassess annually