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Should I get life insurance if I’m living with my partner?
Just because you don’t have children to worry about doesn’t mean you and your partner aren’t without financial obligations. Your responsibilities are geared towards each other.
Whether you’re living in a de facto relationship or happily married, you still share increasing financial obligations as you accomplish goals together. Is marriage on the charts? You may wish to buy your first home, get a promotion or change industries, and even plan for kids down the track. These are all expensive affairs.
So what would happen if your happily ever after took an unexpected turn? The bills might be halved now with two wages coming in, but how would you both cope if you were suddenly forced to live off one salary?
Protect your...
- Soulmate
- Lifestyle
- Health
- Financial Independence
- Savings goals
What cover may be right for couples?
Imagine how you and your partner’s finances and emotional wellbeing would be affected in the following scenarios:
You could get sick or injured and be unable to work
If your health took a major knock and you couldn’t work, life might be very different living on only your partner’s income. They might find themselves also responsible for household upkeep like cleaning, cooking and grocery shopping. It may not be paid work, but these chores equate to a dollar value if you both had to pay someone else to fulfil them because you could no longer contribute.
This product may be suitable
Receive a monthly benefit to help keep you afloat while taking the burden off your partner. It can help take care of your ongoing expenses so you both can maintain your standard of living and focusing on recovering.
You could be injured in an accident
An accident can change your life instantly. If you were seriously injured and unable to work, how would you and your partner stay on top of everyday living expenses while you’re trying to get better? Not to mention those hefty medical bills.
This product may be suitable
Receive a lump sum payment payment based on your type of injury, allowing you to recuperate while some expenses are covered, easing the financial and emotional burden.
If you were not here to support your partner financially
The end isn’t something young lovebirds think about, but death is inevitable. If something did happen and you were no longer around, what would it mean for your partner and the financial obligations you leave behind?
This product may be suitable
Life insurance is your way of looking out for your partner and minimising any burden. It could mean that your share of the mortgage and any other debts wouldn’t hold your partner back.
Policy terms (including waiting periods, exclusions and limits) apply. Read the relevant Product Disclosure Statement for full details.
The earlier, the better
You’re never too young or too healthy to consider getting covered. Starting a customised policy while time and health are on your side has a lot of perks:
Facts of life
Even if the worst doesn’t happen, it’s still much cheaper to get life insurance as a young couple compared to later on in life.
