Myths About Risk Management
To be avoided …
The less we know about an area, the more likely we are to hold a stereotypical view and get it wrong.
For example, many people think that most people are disabled by accident.
Certainly, a reasonable proportion of accidents cause disablement for young people.
The older we get through, the more likely an illness will be the cause, significantly so as time rolls by.
Understanding the odds
The chance of being disabled by a serious illness for 12 months or longer is more than 1 in 4. 
What do you make of that?
A well thought through risk management plan will target the most likely risks and the risks that cause the most damage.
This makes for good financial resilience. Professional help to establish the odds is useful and can be highly beneficial too as you engineer real financial resilience.
Misguided stereotype beliefs can be damaging
At the extreme end of misguided thinking are those that believe they don’t need any insurance protection because the Government / ACC will look after them.
It is only when they are disabled that they learn why that is not reality.
Another common myth
This where some people think that the only type of insurance protection they can get is against dying (life insurance).
They are unaware of other types of protection that they can and should include in their risk management plan, such as protecting the family against lost income or for business owners, providing funding for ongoing expenses in the event of a serious health issue.
Nothing overly complicated although some help is usually required to get it right and plan efficiently.
 Click here to read more about study findings relating to disability.