- What we don’t see are the many personal stories about the underinsured individual who can no longer work due to sickness or injury or the widow who can’t support her family after the unexpected death of her uninsured partner.
- Sadly these stories are common but because we don’t talk about them, the danger is that anyone of us could be caught up in the statistical reality of losing a family member – with catastrophic consequences.
It seems our 'she'll be right' attitude is actually failing us when it comes to protecting ourselves and our families.
Watch the real life story of Emma — a Human Face to Australia’s underinsurance problem
Emma's story courtesy of Zurich Australia YouTube channel
Who’s most at risk in Australia?
The people generally most in need of life insurance and income protection are
- families with dependent children,
- those caring for frail ageing parents and
- those who rely on a sole earner’s income
What this means for our families and children
- In 2014, there were 11,237 unexpected deaths of married people of working age (between 15 to 64 years).
- This equates to more than 31 families per day unexpectantly losing a member.
- Given that approximately 48% of families have at least one dependent child, this means that around 15 families per day with dependent children lose a parent.
For these families, the impact of unexpectedly losing a family member is not only the emotional trauma but the potentially significant financial damage this loss could represent and its domino effects through the family.
The biggest problem is that most people don't think it's a problem. Drew Browne
If you're uncertain of your family's level of life insurance coveror if you just want to start a more informed conversation about your options, please Contact Us for a confidential chat today.