There are few life events to rival getting a home loan and buying a house – it is the biggest purchase many of us will make.

Such a commitment involves careful planning and sacrifice, and often coincides with the time in our lives when we start to think of ourselves as adults.

Moving out of home is one thing – living in your own house is quite another.

It makes sense then to bring an adult's perspective to the new financial realities that come with a mortgage.

This means, of course, meeting home loan repayments and living within your means. It should also mean planning for what happens if something unexpected – and bad – happens.

If something were to happen to you which prevented you from meeting your mortgage commitments, what would happen then?

This is a very important question to ask yourself, as injury, illness or death can suddenly and at any time transfer your mortgage responsibilities to your dependents.

That is why getting a first home loan is the perfect time to start thinking about life insurance.

Your good health is an incredible asset, so it deserves to be insured in case of loss just like any other valuable item.

When we are young it can be easy to think we will be healthy and strong forever, but when we start taking on financial responsibility, it is smart to take a more realistic view.

This is especially the case if you have a family or other dependents – you want to be sure that they will be taken care of financially should the worst happen.

Unfortunately, many people who aren't insured are forced to sell their homes due to death, disability or injury, resulting in even more hardship.

Some mortgage brokers also offer affordable insurance solutions – it can be great to get their expert advice on how to put a roof over your loved ones and make sure it stays there.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!