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The challenging family conversation worth having now

The challenging family conversation worth having now

What if the worst were to happen to one of us?

Would we be able to continue the lifestyle we live today?

How would we survive financially if one of us were to die suddenly, become permanently disabled or critically ill?

While these can be difficult questions to face, they may well form one of the most important discussions you ever have with your loved ones, particularly when it comes to protecting both your own, and their financial future.

Financial burden is the last thing an individual or family needs when dealing with unexpected tragedy or trauma. How often do you spend time worrying about your future? What if there were a way to alleviate some of that worry, or at least be certain you could mitigate financial risk if the worst were to happen?

Getting a handle on the right mix of life and personal insurance, and building a family protection plan can help provide peace of mind. This includes determining what amount of cover would put the necessary cash in your hands at a difficult time. The level and uptake of these insurances will depend on individual circumstances.

A Family Protection plan can include the following types of insurances:


  • Life Insurance
  • Critical Illness Insurance
  • Income Protection Insurance
  • Total and Permanent Disability Insurance.


According to statistics from LifeWise Australia, while 83 percent of us have insured our cars, alarmingly only 31 percent of us have made sure our income is insured. When you consider that more than 60 percent of Australians will be disabled for more than one month during their working life*, arranging your insurances is vital.

There is no way to sugar coat this topic. Talking about death, serious illness and injury will be challenging. If your income stopped for more than 3 months, what would that mean to you and your family? It can be very upsetting for couples and families to imagine having to prepare for these circumstances. But the good news is, once you’ve established and put in place the right family protection plan, you can move on with life confidently knowing your lifestyle and family are protected.

So if you haven’t already, choose a time to have this conversation with your family and loved ones. Approach it with love and care, and hold it in a supportive environment. A Financial Planner is best positioned to host this discussion with you as they can identify the risks to your financial position. Financial Planners also have access to reputable insurers with high quality policies. As it is such a sensitive topic, it is important that you feel comfortable and trust the planner that you engage.

To book an appointment or to discuss your family’s needs please contact




**Australian Disability Table IAD89-93 Class

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