Homemakers & Carers
Insurance options for stay-at-home parents and fulltime carers
You spend your days caring for your family or loved one, striving to give them the best possible quality of life and a loving, comfortable home. You may have no idea just how much your work is worth, but if you had to pay someone to do everything that you do the value of your labour would become very clear. Life insurance offers you a way to protect your home and your family, so that you won't need to depend on friends or relatives for help if you ever fall seriously ill.
If all your time is taken up with home duties, or taking care of someone who is unable to care for themself, you may not be able to take out an income protection policy, but you should still consider trauma and TPD cover to protect you against serious injury or long-term illness. These types of insurance offer a lump sum payout if you experience a critical illness or disability. You can use the money for any purpose, such as to pay off your mortgage, to cover school fees or to pay for someone to help you at home.
You are the centre of your family and it's very hard to think about how they would cope if you fall seriously ill or even die. Your partner or a relative might want to give up their job so they can care for your children, and a term life policy could make that possible. A death benefit payment could be used to clear debt or to invest for a regular income, so your family can stay in the treasured home you created for them.
It's even harder to think about the impact on your family if one of your children should fall seriously ill. Some insurance policies allow you to add child trauma cover, offering a lump sum payment to take away your financial worries, so that you can concentrate all your energy on helping them to recover.
As a full time carer, there may be no one to take over your role if you become ill. Without your help your loved one may have to go into a care home or hospice just to receive the support they need to live comfortably. Insurance could provide funds for someone to take care of both of you; so that they can continue to stay at home with you; or make sure that they will be properly cared for if you are no longer around.
We offer free, personalised advice on choosing the right life insurance to protect your family. Contact us today to talk about how we can help you.
We work with all the leading providers of Life Insurance in Australia. Our advisors can tailor your life insurance individually for you, using products from any of the leading life insurance companies in the market.