As a parent, having a good life insurance is vital for your peace of mind. Consider how you family would survive financially if anything happened to you, or both you and your spouse. Logistically, if your children were left without both parents there’d be the trauma of grief and moving house and school to live with relatives.
But with life insurance, you can be reassured that your children would be left with a secure future.
When you purchase a life insurance policy to protect your spouse and children, there are a few things to consider.
Firstly, it makes sense that you would choose to insure the working parent so that in the event of their death, the parent who cares for the children would be able to continue to do so without being forced to go back to work early to pay the bills. However, it’s also wise to consider what you would do if the sole caregiver were to pass away. Would you need extra childcare support to continue working full time? Or would you prefer to become the caregiver, opting to be home for your children instead?
Either way, it might pay to invest in an insurance policy for both parents.
Having right life insurance in place can give you peace of mind from knowing you and your loved ones are protected.
Your insurance is underwritten by Chubb Life Insurance New Zealand Limited (Chubb Life). Chubb Life has an A (Excellent) financial strength rating given by A.M. Best Company Inc. A summary of the rating scale is: A++, A+ Superior | A, A- Excellent | B++, B+ Good | B, B- Fair | C++, C+ Marginal | C, C- Weak | D Poor | E Under Regulatory Supervision | F In Liquidation | S Suspended. For the full rating scale and more rating information visit www.ambest.com/ratings/guide.pdf
