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Stages of Life Insurance Guide

Life insurance for young singles

Don't let life's mishaps hold you back

Life’s pretty sweet when you’re 18 to 30 and single. You’re healthy, carefree, upbeat and at your prime with minimal responsibility. Since you’ve got a long and exciting future ahead of you, the end isn’t a concern for now – which means travel and the fun stuff are on the cards and insurance is probably simmering on the back burner with marriage and babies. But isn’t your financial independence worth protecting?

Whether you’re wrapping up your studies or carving out your career, chances are you’ve probably accumulated some assets and a bit of debt along the way – like your car, student loans and purchases on plastic. With just yourself as a breadwinner, how would you continue to make ends meet if you were suddenly without an income?

Do I need insurance if I’m single? 

As a young Aussie with no dependents, your path to financial security can be a lot smoother when all you have to worry about is yourself. On the flipside, who can you rely on if something went wrong? You may have no one to turn to for financial support if you unexpectedly became sick or seriously injured and were unable to work. That’s why getting covered is something young adults with debt consider to help stay protected from financial worry.

Help protect your...

  • Lifestyle
  • Health
  • Financial Independence
  • Savings goals

What cover could be right for you?

Consider how you would handle the following situations and what impact it might have on your nearest and dearest:

You could get sick or injured and be unable to work

You’re young, healthy and probably feeling invincible - but the reality is young people do still have a chance of getting critically injured or ill.

What would happen if you did run into trouble and your pay cheque was paused?

This product may be suitable

Income Protection

Receive a monthly benefit to help ensure ongoing expenses are looked after. That way, you can carry on with your current way of life and focus on more important things like recovering.

All features & benefits Get a quote


Too young or a smart move?

Deciding on life insurances isn’t about your age. It’s about the stage in life you have reached. Beginning when you’re in a young and healthy life stage comes with major benefits: 

  • Affordability

    The best time to take out a policy is during early adulthood when you’re in tip top shape. Premium rates are drastically cheaper for younger people compared to those older, as they generally are less risky to insure.

  • Relief

    Enjoy comfort knowing your loved ones may not have to carry your debts or fund your lifestyle if anything were to happen to you in the future.

  • Flexibility

    Increase your cover when your needs and life stage change. E.g. significant milestones such as deciding to buy a home, tying the knot or planning for a baby.

  • Savings

    You can save in the long run by locking in a cheaper premium early. Even better, you could avoid dipping into your personal savings pool if the worst happened.

  • Tax friendly 

    You may be eligible to claim your income protection premium at tax time. The tax treatment of Income Protection will depend on your individual circumstances.

Facts of life

Life insurance is significantly cheaper for young adults, as you are often considered to be healthy and low risk.

Got a question?

Ask the AAMI Virtual Assistant