Have you considered how a major accident or serious illness to your spouse could jeopardise much more than your happiness?

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If your partner takes care of the housework, cooking, childcare and numerous other tasks, could you cope if they were to die or suffer a serious illness such as cancer or a heart attack? Who would be there to look after your family and these tasks during this difficult time?

Unfortunately, many Australians consistently neglect to insure their partners whilst making sure that their homes, cars and other material possessions are insured.

Statistics show that the average stay-at-home spouse does up to 17 different jobs such as: chef, driver, cleaner, nanny, nurse, social worker and financial manager. The average cost of these services is $768,900.

Of course, money can never replace the love and affection that your partner provides your family. Suffering the loss of your spouse may be an emotionally and financially traumatic experience, but you do have options. Spouse cover would at least alleviate the financial burden.

Losing your partner may be devastating, but it is important that your family’s lifestyle is maintained. Your life may be in turmoil, but the bills don’t stop. Although nothing could erase the grief and sense of loss that you would feel, spouse cover would ensure that you could concentrate on your family’s emotional recovery rather than being distracted by financial worries.

Surviving a life-threatening illness can be just as distressing financially. Trauma insurance that offers a once-off payment for a wide range of illnesses could help with specialist medical treatment, mortgage or debt repayments, or just coping with the day to day jobs that still need to be done whilst you are caring for your partner. A financial planner or accredited adviser can offer solutions to ease the financial burden in these stressful times.

For greater peace of mind, you should consider spouse cover as part of your overall financial strategy.