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Children Pay the Price When Parents are Underinsured

Life insurance is a new year’s resolution that is easy to achieve and has a lasting impact for your family.

The cost of raising a child in Australia is increasing faster than the average salary, so it’s understandable that parents are cutting costs to compensate. When families cut back on life insurance it’s often our children who pay the price.

It is estimated that 60% of families with dependent children lack sufficient life insurance to cover costs for more than one year if a parent were to pass away. Of course each family hopes that they will never suffer through such a tragedy, but the fact is that it does happen. When it does, children of underinsured parents are heavily impacted.

When a family’s income is drastically reduced, whether it’s by injury or death of a parent, everyday life changes. The family home may have to be sold. Children may take on extra responsibilities at home, causing them to lose interest in friends or schoolwork. No matter how much the adults try to bear the burden and hide financial concerns, children will be affected.

Here’s How You Do It:

Step 1: Select your current age below.
Step 2: Once you answer a few questions, you will have the opportunity to compare quotes from up to 13 of Australia’s largest insurers. You may also be entitled to a free consultation.

Life insurance can ease some of the hardship associated with trauma by providing a lump sum payout that can cover the cost of a mortgage, bills, your child’s education, and day-to-day expenses. Many people miss out on critical coverage because of the misconception that life insurance is too expensive, but with an affordable policy you could be paying less than the cost of a daily cup of coffee.

When you weigh the cost of life insurance against the potential cost of being underinsured, it makes sense to invest in reliable coverage. The alternative could leave your children with increased pressure and decreased opportunities.

Finding an accessible life insurance policy is easier than you might think, and you can do it all online. Compare policies with LifeInsuranceComparison.com.au to recieve a free quote from a range of providers, all customised to your selections. Qualified staff members are also available by phone to help you understand your quote and make an informed choice.

LifeInsuranceComparision.com.au isn’t owned by the big banks, so you can trust that you’ll receive unbiased advice that is unique to your situation. You’ll be provided with full details about your chosen policy so you can fully understand the benefits you are entitled to.  

Don’t ask your children to wear the cost of underinsurance. Compare policies today and save on life insurance that protects the financial future of your family.

Get Started Now:

Step 1: Select your state below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

LifeInsuranceComparison.com.au's online quote comparison tool makes it easy to get quotes from 13 Australia's biggest life insurers