The Broke Generation

Grow your money mini series: Risk management, with Jess Brady

13 snips
Aug 13, 2025
Jess Brady, a financial advisor and creator of The Greenhouse Money Growing Program, dives into the often-overlooked realm of risk management and insurance. She shares her personal journey of becoming uninsurable and the critical role timing plays in insurance claims. The conversation covers essential insurance types and the importance of balancing protection with affordability. Jess also exposes the complexities of health insurance, detailing costly out-of-pocket experiences and advocating for early insurance acquisition to safeguard financial futures.
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ADVICE

Get An Insurance Specialist

  • If your life or income has changed, consult an insurance specialist instead of DIYing complex products.
  • Use specialists like mortgage brokers to compare insurers, definitions, and occupation assessments.
ADVICE

Know Each Insurance Purpose

  • Match insurance types to your needs: life covers death, TPD covers permanent disability, income protection covers lost earnings, trauma covers specific illnesses.
  • Consider which cover sits inside super and how definition differences affect claims.
ADVICE

Prioritise Cover By Fallout And Cost

  • Prioritise cover based on likely fallout: weigh dependent needs, mortgage exposure, and cost when deciding life or income cover.
  • If costs are high, tweak features like waiting periods to reduce premiums while keeping core protection.
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