How much are you worth? – Guest Blog by Kylie Ofiu

We recently launched a comparison quote service for life insurance and income protection insurance on Mozo and were surprised to discover how shockingly underinsured many Australian families are in the event of an illness, injury or death. To share her personal experience on the issue, we are thrilled to have guest blogger, Kylie Ofiu on the Mozo Blog. Kylie is the author of 365 ways to Make Money and this is the first of a series of guest posts she will be doing for us, sharing insights and tips on how to save (and make money) with the Mozo community.

How much are you worth?

When I was a teenager my mother was diagnosed with cancer. I often wondered what would have happened if it was my dad going through the treatment, as he would have been unable to work. In our house, my parents openly discussed finances with us, so I asked my dad how we were coping with less work and increased expenses. Dad said it wasn’t a problem, as they had insurance for both him and mum.

At the time, I thought only houses and cars got insured, but I learned you could get life insurance and income protection insurance as well. Income protection insurance covers you if you are ill or have an accident, whereas life insurance covers you after death or if you are diagnosed terminally ill. It doesn’t cost much, but can help out a lot when you need it.

Mozo offers a free service where you can compare different policies to find the one that best suits your needs with just one search. If you have a family I think they are essential insurances.  As my mum was terminally ill, her life insurance covered everything. But what if she had had an accident or something instead? She ran the home. She cooked all our meals, cleaned, ran us around to all our sports, music and other activities, which with 5 children is a lot of work. There was no insurance for her.

There is now though.

Million Dollar Woman is where you can get insurance to cover full-time mums for situations such as accidents where they are unable to do their normal duties. Imagine the cost of getting a cleaner in, ordering in meals and getting people to run your kids around. It’s certainly not cheap. If you have the right insurance, this isn’t a problem.

How much are you worth? – Guest Blog by Kylie Ofiu was last modified: June 26, 2015 by Kylie Ofiu

Share This Post

8 Comments - Write a Comment

  1. Thanks for this information. I hope many people will realize that getting an insurance is important–it’s also a way to show love to people you care. Also, you may want to try to search about income protection nz for more info.

    Reply
  2. Hi,

    Very informative post. I did not know that mozo offers insurance comparison quotes like comparethemarket.com.au. Smartincomeprotection.com.au is also offering free quotes. Iselect is also a good engine to compare insurance online.

    Reply
    1. Mozo

      Hi Dion,

      In addition to banking comparisons, Mozo also offers a great range of insurance comparisons. We’re always adding new products to our website such as the recently launched travel insurance page. If you’re planning to head overseas, remember to check out our travel insurance page where you’ll be able to compare over 40 insurers in one search.

      Team Mozo

      Reply
  3. Compare life insurance highlights the importance of choosing the right type of life insurance
    that will suit your ability to pay the premium, as well as the lifestyle you have now. There are
    different tools out there to measure the types of life insurances against each other, and to make
    sure you are not being hoodwinked or shortchanged. Comparing life insurance also informs you
    about your rights as a policy holder if you sign up for a particular type of insurance. Tools that
    allow you to compare life insurance will help you make the right decision that could affect your
    life for years to come.

    Reply

Post Comment