Your browser version is no longer supported, so you may experience issues while using this site.
Please upgrade to a current browser to enjoy the best experience.

Stages of Life Insurance Guide

Life insurance for couples

Protect your future, and your now

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 could no longer work, life might be very different living on only your partner’s income. You may find it difficult to manage your financial obligations and maintain your lifestyle while you can no longer contribute to these expenses.

This product may be suitable

Income Protection

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.

All features & benefits Get a quote

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

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.

All features & benefits Get a quote

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:

  • Cheaper

    Life insurance premiums are substantially more attractive during adulthood when you’re fit, free of health issues and less risky to insure.

  • Confidence

    Helps you rest easy knowing your partner won’t have to carry the full load of shared debt sustaining a level of your current standard of living if you couldn’t contribute.

  • Accessibility

    More insurance options and higher coverage levels will be available to you when you’re healthy and still relatively young. If you delay life insurance and chronic health conditions start to show up (like diabetes, high cholesterol or cancer), it’s much harder to get insured.

  • Flexible cover

    As your life stage changes, a quick update to your policy will ensure your cover level matches your growing needs. E.g, if you get hitched, buy your first home together or start a family.

  • Savings

    Locking in a cheaper premium at a young age means extra savings in the long run. The even better news is life insurance protects your larger financials goals, since you won’t have to dip into your wedding funds or once-in-a-lifetime holiday savings if the unexpected hit.

  • Tax benefits

    Income protection premiums may be tax deductible, which comes in handy every time you lodge your annual tax return with the ATO. The tax treatment of Income Protection will depend on your individual circumstances.

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.

AAMI Home Building and Home Contents Insurance, Landlord Insurance, Strata Insurance, Car Insurance, Motorcycle Insurance, NSW and SA CTP Insurance, ACT MAI Insurance, Caravan Insurance, Business Insurance and Travel Insurance are issued by AAI Limited ABN 48 005 297 807 AFSL 230859 (AAI) trading as AAMI.

AAMI Life Insurance products, other than in some circumstances the Redundancy Benefit, are provided by either Asteron Life & Superannuation Limited ABN 87 073 979 530, AFSL 229880 (Asteron) or 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). Both Asteron and TAL Life are part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). TAL companies use the AAMI brand under license.
Redundancy Benefit issued on or before 31st March 2020 was offered by AAI Limited ABN 48 005 297 807, AFSL 230859 (AAI) trading as AAMI which is part of the Suncorp Group. New Redundancy Benefit policies and renewals offered from 1st April 2020 will be issued by Asteron Life and Superannuation Limited, ABN 87 073 979 530, AFSL 229880 (Asteron). Suncorp Group is a distributor of products issued by Asteron and TAL Life. The different entities of TAL and the Suncorp Group of companies are not responsible for, or liable in respect of, products and services provided by the other.
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.

AAMI Health Insurance is issued by nib health funds limited ABN 83 000 124 381 (nib), a registered private health insurer, and is marketed by Platform CoVentures Pty Ltd ABN 82 626 829 623 (PC), a Suncorp Group company. PC is an authorised agent of nib and receives commission from nib.

Pet Insurance is issued by The Hollard Insurance Company Pty Ltd (ACN 090 584 473; AFSL 241436) (Hollard); distributed by Pet Insurance Pty Ltd (ACN 607 160 930; AR 1234944) (PIPL) and PIPL's authorised distribution partners (including Platform Ventures Pty Ltd (ABN 626 745 177; AR 001266101) (Ventures) under the AAMI brand); and administered by PetSure (Australia) Pty Ltd (ACN 075 949 923; AFSL 420183) (PetSure). PIPL and Ventures are authorised representatives of PetSure. PIPL and PIPL's authorised distribution partners (including Ventures) will receive a commission which is a percentage of the premium paid to Hollard and PetSure may receive a portion of the underwriting profit, if any - ask PetSure for more details.

Registered Office, Level 28, 266 George St, Brisbane QLD 4000. Information provided is general advice only and has been prepared without taking into account any person's particular objectives, financial situation or needs. Read the relevant Product Disclosure Statement or Policy Document available at www.aami.com.au and consider whether it's appropriate for you before making any decisions about whether to buy or continue to hold a product. Information current as of 9 July 2015.

Launch chatbot

Got a question?

Ask the AAMI Virtual Assistant