Do I really need insurance to protect my lifestyle?

If you’re just getting started in your career, renting your first place, or enjoying the freedom of a busy social life, insurance is probably the last thing on your mind. But life can change in an instant—and when it does, being financially prepared can make all the difference.

At McMillans, we help young professionals like you understand the importance of protecting your lifestyle today so that a curveball tomorrow doesn’t derail your future.

What would happen if you couldn't work for a few months?

Let’s say you suffer an injury from a car accident or are diagnosed with a serious illness like cancer. How would you cover your rent, credit card repayments, or car loan?

Would you need to move back in with your parents? Rely on your family for support? Risk falling behind on bills or losing your independence?

Insurance gives you financial breathing room when life doesn’t go to plan. It allows you to stay on track, even if you’re temporarily off your feet.

A real-life example: Simon’s skiing accident

Simon is 25, earns $48,000 a year, and splits the rent with his housemate. One winter, a skiing accident left him unable to work for three months, followed by another two months at reduced capacity.

With Income Protection Insurance:
Simon received $15,000 over five months—through a combination of sick leave and insurance payments. He stayed in his rental, covered his car loan and credit card, and avoided major financial stress.

Without Insurance:
He would have had just $8,000 to get through five months. That wouldn’t have covered rent, bills, or loan repayments. Simon likely would’ve had to move home and rely on his parents.

What can lifestyle insurance cover?

  • Income if you’re unable to work due to illness or injury

  • Rent or mortgage repayments

  • Credit card or personal loan repayments

  • Living costs (groceries, fuel, utilities)

  • Social life and travel plans – without wiping out your savings

Insurance that’s designed for you

If you’re young and healthy, premiums are generally low—but the peace of mind is high. You’re protecting your independence, your financial future, and your plans.

At McMillans, we can help you find the right policy to match your budget, goals, and lifestyle. Already have insurance? Let’s review it to make sure it still meets your needs.

Insurance, Personal FinancesCristy Houghton