Consider the following example:

A chartered accountant earns $160,000 per year. He has just bought a new home for $700,000 with a mortgage over 25 years. Within ten years he will probably be earning $320,000 per annum.  He has no life insurance!

Last night he died.

Today his wife and the children start a new life quite different from the old. The husband unfortunately handled all the finances. If the widow does go to work she will have to find and pay for competent care for their children, extra clothing and transportation and for a long time, she will be fraught with uncertainty, worry and hard decisions.

The family may now rely on the Australian welfare system.