Life Insurance for Young Singles
If you’re between 25 to 30 and single, you already know it’s a pretty good time of life. Your commitments and responsibilities are minimal and your whole life is ahead of you, full of whatever dreams and adventures you choose to pursue. You’re young, healthy, fit, carefree and living the dream. Probably the last thing you’re thinking about is life insurance. But life insurance is important to consider at every stage of life – and your young, single years are no exception.
The young and single life stage
Late teens and early twenties are a time of immense change and personal development, whether you’re making your way through university, getting settled into your first serious job, or both at the same time! And these days, being young and unmarried doesn’t necessarily mean you won’t have a mortgage or other financial responsibilities.
These days, being young and unmarried doesn’t necessarily mean you won’t have a mortgage or other financial responsibilities The lives of young Aussie singles are changing rapidly. Compared with 20 or 30 years ago, they’re now tech-savvy, getting married later in life and more likely to be working part-time. They’re more mobile when it comes to accommodation, more culturally diverse and more likely to be living in urban areas. Also, a larger proportion of young women are working than in previous decades1.
Why you could need life insurance at this stage of life
In most cases, we are healthiest early in life. And this is good news, because life insurance premiums are tied directly to your current state of health. Accordingly, the cost of a policy may be quite affordable at this stage of life, because you’re not subject to some of the exclusions and extra conditions that might affect the premiums of older policy holders, who may have acquired medical conditions over time.