Maturing families life insurance

 
  •  

Life insurance can protect the lifestyle you have worked so hard to create

The kids have grown more independent and you’re starting to get on top of your financial commitments. Freedom from financial obligations seems to be getting closer.

Sometimes however, this is the time when things go awry and a little bit of extra help is needed. That is where life insurance can play a role.

Life Insurance products Choosi offers direct provide a lump sum payment that could be worth up to $1.5 million to nominated family members (beneficiaries) in the event of your death or the diagnosis of a terminal illness (depending on your age and policy). It is important to consider if you have people who still depend on you or your income to pay for financial commitments.

 
Kids are staying at home and relying on their parents more than ever.Kids are staying at home and relying on their parents more than ever.

Supporting the kids as they get older

Twenty-somethings are delaying moving out until they have found a partner, settled into a full-time job or finished their education.1 In 2015 it was reported that more than half of 18–24 year olds and 17% of 25–34 year olds still lived with their parents.2

Once your kids have moved out, there is even a chance they might move back: half of people in their late twenties living at home had left before, only to return.1 Dubbed “boomerang kids” some are coming home in financial difficulty, others to save for something big. Furthermore, 5% of young couples getting married return to the parent’s home to save for their big day.3

Parents and the family home are increasingly relied on by adult children. If you pass away or become terminally ill, the lump sum payment your family receives can be used to help your partner and children maintain the way of life you’ve built together.

 
Things are as busy as ever, but as the kids get older it becomes easier to take some time out.

 

Things are as busy as ever, but as the kids get older it becomes easier to take some time out.

Life insurance explained

Life insurance is designed to protect your family and the lifestyle you have worked hard to create for the ones you love. You can tailor a policy to suit your family's individual needs, life insurance cover options Choosi can arrange direct include:

Type Description Benefit
Life Insurance

Cover for death or diagnosis of a Terminal Illness.

  •  Lump sum up to $1.5 million, generally tax-free. +
  •  Tailored cover.
Children's Insurance

Covers your child for Accidental Death, or a specific injury or serious illness. 

Usually available as optional cover with Life Insurance policies.

  •  Lump sum payment.
  •  Cover additional costs such as medical expenses and school tuition.
Total and Permanent Disability Insurance

Cover for when you become totally and permanently disabled.

Usually available as optional cover with Life Insurance policies.

  •  Lump sum payment.
  •  Cover additional costs such as medical expenses and school tuition.
Serious Illness Insurance

Cover for a range of serious illnesses that may include Malignant Cancers, Stroke, Heart Attack or Coronary Artery Bypass Surgery.

Often available in as optional cover with Life Insurance.

  •  Assists with paying extra expenses during a life-threatening illness.
Accidental Death Insurance

Additional cover in event of Accidental Death.

Often available as an optional cover with Life Insurance.

  •  Death: Provides an additional lump sum payment to your life insurance benefit to financially support your family if you pass away as a result of an accident.

How much will it cost?

The premium for your life insurance policy will be based on, among other things, your age, gender, whether you smoke and your level of cover.  

As a mature family you will enjoy the benefits of:

  • Financial security

    Life insurance for your family can help ensure that if something was to happen to you, outstanding debts, the mortgage and everyday household bills are covered.

  • Peace of mind

    As your health and wellbeing becomes a more serious consideration during this stage in your life, it is nice to know that if something were to happen to you, your family’s way of life and lifestyle would be secure.


You are working hard to pay down the mortgage, to cover the kids' expenses, and to have enough money to enjoy life a bit more. 

Life insurance can provide financial help to the people that depend on your income if something happens to you. Choosi can help you find the right life insurance for you and your family, as well as with the application process. If you would like to find out more, contact Choosi's team of Choosers on 1300 363 526 or request a quote today.


This is general information only and does not take into account your personal objectives, financial situation or needs. You should consider the relevant PDS available on this website prior to purchasing any product. Choosi offers insurance products from a range of brands but does not compare all products available in the market.

References  



Compare now