Are your family, friends or adult children part of the large percentage of Australians who are under-insured? Here’s a simple guide to stage-of-life insurance priorities.

Priorities have shifted. You’re making your way up the work ladder but the pressures of a mortgage, a second car and young children are being felt.
What if you were suddenly unable to work? What if an accident or illness meant you were no longer around to help care for your family? How would mortgage repayments and school fees be met? Suggestions for this period include a selection from the previous three covers – Income protection, TPD, and Trauma – as well as Life insurance and Child Cover.
A financial adviser can ensure you are neither over-insured nor under-insured.
Life insurance – pays your beneficiaries a lump sum if you were to pass away.
Child Cover – in summary, child cover will pay a lump sum of to $200,000 in the event of 38 child trauma events, including severe burns.
NEXT: Mature couples and singles

Disclaimer: Information in this article is based on current regulatory requirements and laws, which may be subject to change. While care has been taken in the preparation of this document, no liability is accepted by Count, its related entities, agents and employees for any loss arising from reliance on this document.

This document contains general advice. It does not take account of your individual objectives, financial situation or needs. You should consider talking to a financial adviser before making a financial decision.