Million Dollar Woman Insurance - Recognition For Mothers

It has taken 100 years to finally realise that looking after children and doing housework is valued.

Australian mums are now able to receive $900 a week for housework to pay someone to do their cleaning, cooking, laundry, shopping and child care in the event of them being injured or taking ill - thanks to Million Dollar Woman Insurance.

1.4 Million Australian Women Were Hurt in Last Six Months

The reason behind this landmark development is solely due to the fact that approximately 1.4 million Australian women were so badly hurt in the last six months that they were unable to perform essential housework.

This thankless task is crucial to the Australian economy as it has always allowed the primary breadwinner to dedicate their time to their paid job.

Housework can now be insured for as little as $2.50 a day. This is the first time that it is being offered in Australia.

Recent research has revealed that 1.2 million of the 8.6 million Australian women were so badly injured in the last six months that they were unable to do their housework.

Other duties which they were unable to perform were:

  • Grocery shopping - 970,000
  • Laundry - 800,000
  • Cooking - 770,000
  • Child care - 250,000

Research has shown that dislocations, sprains, torn muscles or ligaments (15%) were the most common injuries, followed by serious cuts, open wounds, or bruising (12%). Falling was the most common cause (27%), closely followed by hitting something or being hit by something (20%).

Generation Y (18-34) & Generation X (35-49) are more accident prone compared to the Baby Boomers.

Western Australian women are more accident prone compared to those living in Queensland and South Australia.

Million Dollar Woman Insurance Product

Million Dollar Woman is a new insurance product that provides financial security and independence to all women. The insurance is provided by a subsidiary of Suncorp Insurance called Million Dollar Woman Living Insurance.

This particular insurance policy will pay out up to $900 a week for up to 13 weeks should the policy holder be sick or injured.

The new claims procedure is hassle free and is based on the policyholder's ability to perform their normal household chores.

All that is required is confirmation from your doctor regarding your condition.

However if you are going to get back to work after maternity leave - this Million Dollar Women Insurance product is not for you. Consider Income Protection Insurance instead.

Get your quotes now

What to find out more? Enquire now

Published on May 5-rd, 2011 in Insurance
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

More on this topic

Enquire about Insurance

Important Information

Not all providers in the market are included in the comparison.

Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.