Why is life insurance important?

By AAMI 06 October 2021

Life insurance can give you choices and options, whatever stage of life you’re at.

As you move through life, experiencing milestone after milestone, there are moments and people that make you realise what is most important, and why you need to protect the ones you love.

Growing your family

Whether that’s getting married, having your first child or your third, growing your family often means reassessing what protections you have put in place financially. From the moment you start a life with someone, you are no longer living just for yourself. Rather, there are others relying on you mentally, physically and financially. One of the most important decisions anyone has to make is, what would happen to your family if you were to pass away or couldn’t work?

Major financial commitments

University degrees, loans for cars or other motor vehicles and purchasing a property are all milestone moments in life. Buying a property is one of the most exciting times of your life, but it’s also a significant financial commitment, so it only makes sense to think about how your loved ones would cover the mortgage if you were to pass away or couldn’t work.

Changing family and financial circumstances

There are changes in every family, both planned and unplanned, that can lead to a change in your financial circumstances. Whether it’s the loss of a partner, a second marriage, your children becoming financially independent or needing to care for an ageing or ill parent, all of these things may mean a change in responsibility and in turn, a change in your financial situation. With every change that life throws at you it’s important to think about your financial responsibilities and the people around you who you would want to protect and provide for should something happen to you. Life insurance may help provide that support.

Helping to protect your loved ones

When anything happens in life - good or bad - it’s a reminder to re-evaluate your life and consider what’s important to you. It’s also a reminder to look after those you love most. Often, this means looking at what insurance you can take out to help minimise the financial burden that may be placed on your loved ones on your passing or if you can’t work due to injury or illness.

If you’ve decided it’s time to take out life insurance, contact AAMI Life Insurance on 1300 407 322 or get a quick quote online.

AAMI Life Insurance products, other than in some circumstances the Redundancy Benefit, is provided by TAL Life Limited ABN 70 050 109 450 AFSL 237848 (TAL Life) which is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). TAL is not part of the Suncorp Group. TAL uses the AAMI brand under licence from the Suncorp Group. Any advice on this page in connection with the Life products is general in nature and is provided by Platform Ventures Pty Ltd ABN 35 626 745 177 AFS Representative Number 001266101 (PV). PV is part of the Suncorp Group and an authorised representative of TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260 (TAL Direct). General advice does not take into account your individual needs, objectives or financial situation. Before you decide to buy or to continue to hold a Life Products you must read the relevant Product Disclosure Statement. The Target Market Determination (TMD) for the product is available on our website.