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Why life insurance matters at every stage of life
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 were 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.