One of the most unpopular topics in personal finance is the range of insurance known as ''life products''.

I suppose they're unpopular because of what they insure against: death, permanent disability and injury.

Life products hedge against the risk that you'll lose the wellbeing to generate income.

No one wants to dwell on injury or death. However, look at it this way - life products are financial protection for your greatest asset. Ask someone about what that might be and they'll say their house, their share portfolio, their superannuation. But for most people, their greatest asset is actually their ability to generate income. And income is usually closely tied to wellbeing.

So life products hedge against the risk that you'll lose the wellbeing to generate income.