Raewyn and Glenn fall into this category – perhaps you do too. Here’s their story:
||Both in late 30s|
||Civil union - together for 12 years|
||Craig (8) and Jade (6)|
||To feel confident that the family would survive financially if the worst happened|
Like many New Zealand parents, Raewyn and Glenn lead hectic lives and feel exhausted most of the time. They have two children with active social and sporting lives: Raewyn feels like a taxi driver on the weekends − not a profession of choice!
On top of their own very busy lives, they have Glenn’s parents − Jim and Betty − to take care of some of the time. Jim has suffered with serious bouts of depression over the past 10 years and retired early, relying partly on Glenn (their only child) and Raewyn for support. Jim didn’t have any income protection insurance in place, which would have helped him financially. Instead, Glenn and Raewyn now assist however they can. They’ve just bought Jim and Betty a second-hand car and, consequently, their own savings seem to take one step forward and two steps back.
Although a great deal of pressure is placed on Glenn, he wouldn’t have it any other way. His parents gave him the best possible start in life; now that he’s doing well, he wants to help them in their time of need.
Glenn took out life insurance, income protection and family health insurance without hesitation. He later topped-up his protection plan with a critical illness policy. There’s no way either Glenn or Raewyn could cope with their financial commitments if one of them were to die prematurely, become seriously ill or injured, or require major medical treatment in a hurry.
Glenn has insurance because he isn’t prepared to take any risks with the financial future of his family.