If your family is changing, it’s time to review your insurances
According to several surveys, Australia has a serious underinsurance problem, with most Australians not having enough insurance coverage to meet their needs or lifestyle, should they need to make a claim¹. While many have some kind of insurance in place alongside their super, it’s not enough to meet their needs or the needs of their dependants if their financial circumstances change – especially amongst families with children. The average life insurance policy takes care of less than a third of what a young family would require to replace the income earned by a parent².