A standard life insurance policy covers you for death or terminal illness. Depending on the policy you choose, there may also be some optional cover that you can add to your policy, like serious (or critical) illness insurance, total and permanent disability (or permanently unable to work) insurance, and some policies also allow you to take out cover for your children. Children’s insurance typically covers death, terminal illness, and some specified serious illnesses. Check the
Product Disclosure Statement of the policy you’re interested in to see what options are available to you.