Newspaper article The Northern Star (Lismore, Australia)

The Underinsurance Crisis

Newspaper article The Northern Star (Lismore, Australia)

The Underinsurance Crisis

Article excerpt

WITH underinsurance rife in Australia today, one of the best ways you can help your family out financially is to be adequately insured.

A 2002 AMP/Natsem study has shown that it costs about $450,000 in today's dollars to raise two children from birth to age 20.

So if something were to happen and you could no longer earn an income, can you imagine the impact this could make to your family's current standard of living?

That's why the smartest way to help your family financially is to make sure you are adequately protected against accident, illness and even death.

Life cover provides financial security for your family in the event of death, with a lump sum payment or instalments.

This could help loved ones pay off the mortgage and other debts, provide for your children's education, or cover living expenses.

On the other hand, if you were to be diagnosed with a critical illness such as cancer, heart attack or stroke, trauma protection could provide a lump sum or instalments to help maintain the family's lifestyle under changed circumstances. …

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