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Life Insurance

Choose the right life insurance cover

07/2024
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Being a parent comes with lots of responsibilities. The early days are full of giving in to those pregnancy cravings, decorating and furnishing a nursery and agonising over the right car seat and buggy to purchase. Once you’ve ticked those off and baby arrives, you’re in for a staggering amount of learning - feeding and sleep times, burping and nappy changing, the list goes on. Often it’s back to work while your child is still young, so researching childcare options or early childhood centres become the next hurdle to overcome. Parenting is not all first smiles and first steps! As a parent, you’re constantly making decisions and choices, not just for yourself and partner, but for the health and wellbeing of your children.

As your children get older, the decisions start changing. You’re likely to have more financial responsibilities, perhaps a mortgage, school fees, or larger grocery and utility bills. They say that children are more expensive to care for the older they get, as their needs change. An important conversation to have with your partner is around the importance of a life insurance policy. As a team, it’s a good idea to discuss the amount of cover you might need in the event of one of you passing away, and who will execute your wishes in your will and care for your dependents

Although not a comfortable conversation for many couples, it is something that comes up more as we get older. We start to observe friends and family members of similar ages to us, experience medical events, or fall victim to tragic accidents. This naturally can lead to a sense of vulnerability and concern for how we might care for our family if we’re no longer around.

Why Life Insurance?
Why Life Insurance?

Why is life insurance important for families?

Our 2020 Parenting Survey Results showed that 47% of parents thought the biggest surprise as new parents, was their life priorities changing. Starting a family is often the trigger for getting a life insurance policy, or at least researching and considering life insurance.

So, how can life insurance support your family in a time of need? Essentially, life insurance policies provide peace of mind to both you and your partner, that your family will be financially secure if one of you was to pass away. As hard as it is to think about, having a life insurance policy in place can make a huge difference to a family in tragic situations. To help alleviate the financial stress of day to day bills and mortgage payments will be hugely helpful if the unthinkable was to happen.

Top 6 considerations when choosing life insurance cover for your family

Everyone’s personal situation is different. Your life insurance policy can be tailored to your specific circumstances, so that you get just the right level of cover for your needs. Important considerations we’ll cover off below include your household budget and outgoings, level of household debt, whether both of you need to be covered under a life insurance policy and so on. 

Get covered
Get covered

Protect what matters most


Having right life insurance in place can give you peace of mind from knowing you and your loved ones are protected.

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