Insurance for Young Families
General insurance guidance for young families considering how to protect against unexpected events.
Young families often carry significant ongoing financial commitments — a mortgage, day-to-day expenses, childcare, and longer-term costs such as education. Personal insurance is one way some families consider managing the financial impact of unexpected events such as the loss of an income earner, illness or injury.
Personal insurance for young families can include life cover, income protection, trauma and Total and Permanent Disability (TPD) insurance. Insurance considerations may also extend to a stay-at-home parent, since their contribution to the household has economic value that can be costly to replace. The right combination of cover varies by individual circumstances.
How we work with young families
Discussions about insurance options and general considerations
We provide general information about how factors such as mortgage or other debts, dependants and ongoing living expenses are commonly considered when thinking about personal insurance cover. This can help you understand how different levels of cover may be structured.
Income replacement considerations
We can outline how income protection options and benefit periods may apply to your situation.
Cover for both parents
Personal insurance options can extend to both income-earning and stay-at-home parents. We can outline how this may apply to your family.
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 young families
We start with a conversation about your family — your circumstances, financial commitments and what you would like to understand. There are no forms upfront and no obligation.
From there, we can outline the personal insurance options available across the market, including the level and structure of cover that may be considered. We aim to explain key terms in plain English so that you can make an informed decision.
We can also review your existing cover periodically as your circumstances change.
Cover Options for Young Families
We help young families 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 Young Families
Ready to Protect What Matters?
If you would like to discuss the personal insurance options available to your family, 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.