18 Australian Families Lose A Working Age Parent Every Day: Are Yours Protected?

In a world of uncertainty, there's one way to help ensure that your family will be taken care of financially if this fate falls upon you - taking out adequate life insurance.

Often, parents are so busy taking care of their family's immediate needs that they fail to prepare for what might happen if they were no longer around to care for them. The statistics released in a 2010 report by Lifewise/NATSEM* are frightening: one in five families are expected to be financially impacted by the death of a parent or a serious accident or illness that renders a parent unable to work at some point.

Many people are quick to insure their cars or homes, but fail to protect the most important asset of all: their ability to support and care for their families. Life insurance is one of the best ways to prepare for the worst possibility, ensuring that your family will be taken care of financially even after your passing.

Taking out life insurance is not only a practical solution for after you're gone, it also provides peace of mind while you're alive. For a relatively small monthly cost, you can rest assured that your family will receive a lump sum benefit which helps them to pay off the mortgage on the family home, cover your children's education costs, and enable your family to maintain the lifestyle you've worked to provide for them.

An easy way to take out life insurance is by comparing your options and selecting the policy that's best for you. Choosi is a free comparison service that helps you compare up to 15 different brands and allows you to apply for cover immediately over the phone or visit the Choosi website.

General Advice Disclaimer: Choosi is owned by Hollard Financial Services Pty Ltd (ABN 53 128 692 884. This Information is general in nature and does not take into account your personal objectives, financial situation or needs.

* Lifewise/NATSEM Underinsurance Report 2010