Family life insurance is most recommendable when you are the main source of family income. By taking out family life insurance, you protect your children and other dependants from facing financial difficulties if you can no longer work. Family life insurance is also worth considering for the parent who is not the primary breadwinner. Getting this type of life insurance can cover the secondary breadwinner's contribution to the household as a family chef, chauffeur, and caregiver. So, obtaining insurance for the stay-at-home parent or secondary breadwinner is just as vital in today's environment as it is for the primary income earner in the family.

Learn Everything About Family Life Insurance

Family life insurance, also known as family term life insurance is an insurance cover that pays in lump sum to the family of the insured if the insured individual dies or is diagnosed with an illness with a possibility of death in 24 months. This insurance helps you protect the financial well-being of your family even when you’re not around to earn for them. Your life is your most precious asset. Make sure you protect it with the best life insurance for young families. With a family term life insurance, your family will receive the benefit sum in event of your death. It can also be paid to you if you’re suffering from a terminal illness. There are several family life insurance options with different types of covers and you can select the right product depending on your preferences, requirements, and lifestyle. Discuss your needs with us and we’ll help you out.


This type of life insurance is designed to cover the daily living costs of your dependants if you were to pass away suddenly, including food, clothing, mortgage, rent, and education. The best life insurance for young families will always have your back in challenging times.

Family life insurance is most recommended when you are the main source of family income, as it will protect your children and other dependants from facing financial difficulties should you no longer be able to work. Therefore, it is your responsibility to take out life insurance to meet family needs when you’re not around.

Family life insurance is also worth considering for the parent who is not the primary breadwinner, as it can cover their contribution as a family chef, chauffeur, and caregiver. In addition, a family life insurance policy can help stay-at-home parents secure their family’s future.

Before deciding how much life insurance you need, it is worth doing calculations that consider your family’s specific financial goals. These goals may include paying off the mortgage and covering school fees.

Life cover comes with many different features and benefits. Depending on your circumstances, what attributes do you want to include in your life insurance? Let us know what you need, and we will help you get the life insurance benefits to provide for your family.

Why choose us
Using our life insurance calculator, you can generate your own life insurance quote in 2 minutes.
You also choose your policy, whether life cover, life insurance for families, term life insurance, or another product.
Call our experts to ask any questions you have about life insurance policies, family life insurance policies, or even various life insurance companies. It's free to seek expert advice no matter your financial situation, so call us today.
We take you through every step of the process, from discussing the lump sum payment to going through the relevant product disclosure statement, activating your family life insurance cover, and everything in between.
Compare quotes from Australia's leading insurers for the best life insurance cover possible to improve your financial situation.


Family life insurance can be a cost-effective way to secure your family’s future, starting from just $1.50 a week. All Australian residents between the ages of 18 and 64 can apply.

Before applying for family life insurance, note that premiums can vary according to several factors, including:

  • Your age and gender
  • Whether or not you smoke
  • Your occupation

Most policies available are similar in their conditions and level of coverage and do not require medical or blood tests. However, whatever family protection life insurance you opt for, make sure you carefully read the terms and conditions to avoid confusion about the insured amount. The last thing you want for your family is to be caught off-guard when receiving the lump sum payment.


Most policies offer a similar level of benefit, and you can tailor a family life insurance policy to suit your family’s specific needs, including the amount paid out to beneficiaries. For example, if your family has young children, the lump sum payout may need to be around 10-12 times your family’s annual taxable earnings. This level of coverage will ensure you meet their needs for some time after your death.

Family term life insurance may help you set the insured amount and decide on the regular premium that you must pay. Then, select the number of years you want to invest and get the corpus paid to your beneficiary upon your demise.


Family life insurance is the best way to ensure your partner and children can continue to enjoy the lifestyle you have worked so hard to provide them, should the worst ever happen.

Wealth Smart understands that the process of choosing a family insurance policy that is right, not just for you but for those who depend on you, can be a daunting and time-consuming task. That’s why we commit to making the job as easy as possible.

We offer a straightforward, comprehensive, and objective comparison of family life insurance options from leading providers. You get to make an informed choice that suits your unique situation and budget with this quality of service. Also, you buy some peace of mind knowing your family will always be looked after.

As insurance brokers, we take pride in providing you with comprehensive, affordable life insurance for families so you can plan your expenses at leisure and get benefits in haste.

Our expert guidance will direct you to the best family life insurance that will double up your financial defence in emergencies. Call us at 1800 765 100 for advice.