Why You Need To Future-proof Your Family’s Finances

Promotion for Cigna Life Insurance

According to a recent survey of Kidspot readers, a priority for parents was to find ways to save money and be better at budgeting. While there are lots of ways to achieve this, it’s important as you rethink your budget that you also consider protecting your family’s financial wellbeing, especially if something were to happen to you or your partner.

Life insurance offers some financial stability at a difficult time, but often it is thought of as a nice-to-have option rather than a budgeting priority.

Why you should include life insurance in your budget

We know it’s a topic that’s hard to talk about, but consider what would happen if you or your partner were no longer around to provide an income or support for the family? Some important questions to ask yourself and to talk about with your partner are:

  • How would you pay for your mortgage or rent, stay on top of bills, pay for day to day expenses, etc?
  • Would you need to go out to work and subsequently pay for childcare?
  • Would you have to move out of your home at a time when children may need stability?
  • Do you want to be thinking about bills during a stressful time for your family?
  • How will you pay for funeral expenses?
  • How important is your family’s financial stability for their future?

When you have children, protecting your loved ones (and yourself) is more important than ever. Life Insurance can be a financial safety net that provides for those who depend on you if you were to pass away.

Plan for the future

We often set aside money in our family budget to save up for things like a family holiday or new car. Regularly saving a small amount towards a goal is a great budget tip. You can do the same with life insurance to protect the future you are building with your family. With life insurance in place, it means you can plan confidently for the future and live life to the fullest, knowing that your loved ones will have some financial stability.

There are several options when choosing life insurance. You can choose ‘cover’ that pays out when the insured person passes away, or even when they are diagnosed with a terminal illness, dependant on the terms of the policy. The money paid out can be used towards the cost of the funeral, to help with housing expenses, or to support the family for the future.

You may want to keep things simple and just get life insurance that you can sort out yourself online, or you may want life insurance that’s more tailored to your family’s needs and prefer to speak to a qualified and trusted adviser. With Cigna Life Insurance, it’s simple to work out the cover that’s right for you.

Book a call with Cigna or an independent adviser

Is life insurance affordable?

Any mention of insurance premiums can send even the best budget planner into a tailspin! But the idea that life insurance premiums are sky high is a misconception. You choose the level of cover you need which helps to keep premiums at an affordable level. Basic cover could cost you as little as $15 a fortnight. That’s less than an extra-large family pizza or tickets to the movies. It’s a small price to pay for peace of mind and something that you can squeeze into that budget.

Don’t put it off

We understand that parenting is a full-time gig, and it can be hard to find the time to get finances and insurance sorted (let’s face it, it can be hard just getting through the mountain of washing!). Thankfully, getting your cover sussed with Cigna could take less time than you think. A quick call with the Cigna team or an independent adviser can steer you in the right direction and you can set it up at a time that suits you. Even more time-poor? Get an instant quote in the time it takes to microwave that cup of coffee for the third time!

Get an instant quote from Cigna

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