Home topics small-business-resources general Advice General Small Business Advice Australians shocked into life insurance Amy Pun March 27, 2013 Have you made a future plan for your family in the event of your passing? No? You’re not alone. According to a new survey conducted by life insurance comparison site LifeInsuranceFinder.com.au , 32.5 percent of Australians have not considered putting together a financial plan for their family in the event of their death. Surprisingly, it takes the shocking loss of a family member or friend before one in two people considers taking out life insurance cover. Major life events also play a significant role. For example, 23.16 percent of Australians would be influenced by marriage or the birth of their first child. Interestingly, 35.59 percent of respondents were more likely to purchase life insurance when taking out a new mortgage than when having a child. When should you consider taking out cover? Here are some suggestions from Fred Schebesta, the publisher of the comparison website: Getting married – life cover can ensure that spouses will not suffer any financial hardship if one party were to pass away. Having children – Australians should consider the various expenses that may arise while children are still dependent , such as food, clothes and education. To ensure an adequate level of cover is in place, it is important to review the current level of cover as the family grows. New home or mortgage – a first home purchase is often the biggest financial commitment of