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Why life insurance matters at every stage of life

By  AAMI

It can be hard to know whether you need to get Life Insurance, but it can be smart to consider it no matter what stage of life you’re at. From being single to an empty nester, here’s why you might want to consider getting Life Insurance.

Life Insurance for young singles

While you might not have dependents that rely on your income, Life Insurance is still something to consider.

If you were to become terminally ill and therefore unable to work, for example, Life Insurance could help to pay for any outstanding debts like credit cards or car loans. Plus, the younger you are, the lower your premiums might be.

We also understand that your lifestyle is ever changing. If you were to get married, have children, purchase a home or experience another major life change, you can simply apply to change your level of cover by up to $100,000 without going through the underwriting process again.

Life Insurance for couples

As a couple starting to build your life together, Life Insurance can give you some financial security.

In the event of a terminal illness or death, Life Insurance payments can help pay for a number of expenses.

As a couple, you can choose separate policies. Or, you can get a Multi-life policy if you’re married or in a de facto relationship. If you take out an AAMI Comprehensive Life Insurance multi-life policy for two adults, you will receive a 5% discount on the annual policy premium for the youngest life insured*.

Life Insurance for families

When you have dependents, Life Insurance is especially important. If the unimaginable was to happen to you, your family can use the lump sum payment they receive to cover certain expenses. This could include:

  • paying the mortgage,
  • covering household bills, and
  • managing childcare and school fees.

Life Insurance for empty nesters

If you still have major outstanding loans like a mortgage in your later years, Life Insurance can help your loved ones cover debts that you might leave behind..  

Serious illnesses like heart attacks and strokes also become more prevalent in this life stage, so Optional Illness Cover may also be something to consider.

AAMI Life Insurance

No matter your life stage, AAMI Life Insurance can help. If you hold another AAMI branded insurance policy, like Car Insurance, we’ll apply a 5% discount on your AAMI Life Insurance premium. If you add another adult to your policy, the youngest person will receive a 5% discount*.

To discover which insurance option might be suitable for your life stage, read our life insurance guide.

 

Explore AAMI Life Insurance

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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.