Aussie mums are not protected

83% of mums say a serious illness, accident, or death would put a huge financial burden on their family, yet 62% do not have any life insurance.

Among the reasons they aren’t adequately protected include lack of understanding, lack of time, and cost. In fact, according to Lonergan Research, 1 in 4 would prefer to change a nappy, and 1 in 5 would rather go to the dentist than to address the issue.

The reality is many households see the ‘risk’ as being the primary income earners, in reality it’s not. Imagine if you had to put a price tag on the full time parent, they’re the child carer, housekeeper, taxi, cleaner, tutor, chef, therapist, shopper, nutritionist, lifeguard… you get the idea.

When we put a price on all this activity, people are often met by surprise at the true financial impact a family would suffer if that person weren’t able to fulfil those roles. The primary income earner would have to take (indefinite) time off to take over the role, or otherwise outsource it at great cost.

To allay the fears that stay at home parents have, I suggest you seek quality advice and by speaking to an expert, you’ll find it’s even cheaper than trying to do it yourself.