James Polson, an AdviceFirst Client Adviser, recently arranged tailored cover for a couple; the father works while the mother takes care of four young children. “They wanted protection in case the mother became ill with cancer, which is the main concern for a lot of my clients,” says James. “I was able to recommend a range of insurance benefits to suit their situation which has given them the reassurance they wanted.”

James warns “it would be unwise to underestimate the risks of not covering the parent who provides the primary care for a child or children at home.”

For instance, if the stay-at-home parent suffers a serious illness, the financial impact can be huge, especially if the other parent has to stop earning to take over day-to-day household responsibilities and support their ailing partner through treatment and recovery. This is where if the stay-at-home partner had trauma insurance which covered that serious illness, and a claim payment was made, the family would be able to choose how to use that money to help relieve financial pressure.

These days, James spends most of his time helping parents to gain peace of mind by putting a tailored insurance protection plan in place that can help to alleviate the financial burden if the unexpected occurs.

James strongly recommends families get an expert financial adviser to explore the best options that can be tailored to suit each family’s needs. So please be sure to contact your AdviceFirst Adviser.

AdviceFirst Limited | A Disclosure Statement is available on request and free of charge.

AdviceFirst is a Financial Advice Provider (FSP23242).