You’ve still got your kids at home, and they’re likely to be relying on you for a bit longer. And as they get older, they're likely to get more expensive to keep!
It’s great that you’re thinking about your, and your family’s future – as often it’s something we don’t like to ponder on too much. Some of the things you’ve been discussing might include:
- If anything happens to one of us, how can we make it as stress free for the family as possible? Dealing with grief will be hard enough, without having to worry about paying the bills.
- If one or both of us gets sick and can’t work, how long can we keep the household running with our savings before we run out of cash?
- Given the kids will need our support for a while yet, how do we plan for that if both of us aren’t around?
The table below shows you what people who were thinking about a similar future to you have asked for quotes for cover on:
Type of cover Average level of cover asked about
This cover provides for those you leave behind and helps them pay the mortgage, invest in your children’s education, put food on the table and pay the bills.
Adding disability cover to your life policy provides a payment to make life easier if you become totally and permanently disabled.
Adding Critical Illness cover (also known as trauma cover) to your life policy will ease the burden if you suffer from one of the covered conditions.
Income Protection Cover$19,700$50,000$80,000
This cover provides you with a regular monthly payment to help replace your income if you are unable to work due to illness or injury. It provides for you and your family through this tough time.
* Data is provided by Chatswood Consulting Limited and is based on quote data for the period October 2018 to September 2020. This information is not personalised advice and is not a recommendation to purchase a certain level of life insurance.