Insurance for New Parents
General insurance guidance for new parents considering how to protect their growing family.
Becoming a parent often reshapes financial priorities. The arrival of a child can introduce new ongoing costs, including childcare, healthcare and longer-term costs such as education. Personal insurance is one way some families consider managing the financial impact of unexpected events such as illness, injury or the loss of an income earner.
Default cover provided through superannuation is generally set at a standard level and may not reflect individual circumstances. Reviewing existing cover when starting or expanding a family is one way some households consider whether their cover continues to align with their situation.
How we work with new parents
Discussions about insurance options and general considerations
We can help you think through how personal insurance options apply to your family’s circumstances and ongoing commitments.
Considerations during parental leave
Parental leave can affect short-term income. We can outline how applications for income protection are generally assessed in this context.
Plain-English guidance
We aim to explain personal insurance options in plain English, so that you can make an informed decision without feeling rushed or pressured.
Child trauma cover
Some families consider child trauma cover, which provides a lump sum on diagnosis of specified serious illnesses. We can outline how this option works.
How we work with new parents
We know that new parents are often time-poor. We aim to make the process simple — generally a single phone call at a time that suits you, followed by clear options and assistance with paperwork.
We can outline the personal insurance options available across the market, including how cover may evolve as circumstances change.
There is no obligation and no pressure to proceed.
Cover Options for New Parents
We help new parents find the right combination of cover from these four types of insurance.
Life Insurance
A lump sum for your family if you pass away or are diagnosed with a terminal illness.
Learn moreIncome Protection
Replaces up to 70% of your income if illness or injury stops you from working.
Learn moreTotal Permanent Disability (TPD)
A lump sum if you become totally and permanently disabled and can no longer work.
Learn moreTrauma Insurance
A lump sum on diagnosis of a critical illness like cancer, heart attack, or stroke.
Learn moreCommon Questions from New Parents
Ready to Protect What Matters?
If you would like to understand the personal insurance options available to you as new parents, you are welcome to book a free, no-obligation conversation.
* Statistics and figures referenced on this page are sourced from Rice Warner Underinsurance Reports, ABS Lending Indicators, ASFA, and industry publications. Figures are approximate and individual circumstances vary.