Please find DPC disclaimer at end of post.
What does your future hold?
It’s one of those things that you can never really know.
Last year, on Christmas Day, I couldn’t have guessed that within days my husband would be unemployed and unable to move directly into a different job.
It happened quietly, and quickly, and came virtually out of the blue, so it was shocking.
We have not been able to save very much money in the last few years and when weeks turned into months of unemployment we found ourselves struggling to pay bills.
We could pay the rent, most weeks.
The electricity bills were . . . lets just say, stressful.
We could scrape by.
But “luxuries”, like our children having swimming lessons or going to Kindy Gym, had to go. We just couldn’t afford it.
I don’t even want to think about how long overdue the car is for a service.
Suddenly we didn’t know what the future held for us. The last thing we wanted to be worrying about was our finances, yet, the idea of insuring ourselves in the event that this might happen had seemed ridiculous.
Our story is one that is shared by many Australians, and it’s one that could be largely avoided.
September is Life Insurance Awareness month and the Australian Life Insurance Movement has been created to raise awareness among Australians about the underinsurance problem that our country is struggling with.
Like me, 50% of people find it difficult to even understand all of the many insurance terms, or to find unbiased information about policies. I also didn’t know, along with a third of super fund members, that super funds offer insurance cover.
The Australian Institute of Superannuation Trustees (AIST) and Industry Funds Forum (IFF) say that the average level of Income Protection Insurance most people have is $2700 a month vs. the average level required: $3750. Yikes – that is a huge difference.
It is staggering to think that even if you are insured you might not be able to pay the bills.
Visit the life insurance calculator from Life Insurance Finder and then compare life insurance plans to find the right option for you.
Do you have Life Insurance? What are you thankful for today?
Join the conversation on Twitter: #LifeAwareAustralia
I am participating in the LIFE Awareness campaign. I received a VISA gift card for this post courtesy of Life Insurance Finder via Digital Parents Collective. I am also in the running to win an iPad3. As always, all opinions are purely my own.