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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 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 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. And once your Budget Direct Life Cover is in place, you’re covered until age 100 as long as your payments are up to date.

As a young single, you may already have possessions like a home, car or other valuable assets. The important question to ask is this: how would you pay for these if something happened to you? Even the young can get seriously ill or have a major accident that can lead to an inability to meet financial burdens. How would you provide for yourself?

What cover is suitable for you?

Budget Direct’s standard Life Cover is a Death Benefit that financially provides for your nominated beneficiary if you should pass away. To this, you can add extra Living Benefits cover (such as TPD or Trauma/Trauma Plus) which can help if you should suffer permanent disablement through injury or illness.

If something unforeseen happens and you’re no longer able to work or manage your home, If something unforeseen happens and you’re no longer able to work or manage your home, you’ll want to have these additional benefits to help replace a source of income you’ll want to have these additional benefits to help replace a source of income, cover specified medical expenses, pay for outstanding debts like car payments, mortgage or credit card debt and provide for everyday living expenses. They can also provide for ongoing rehabilitation, the hiring of a nurse or carer and modifications to the home for permanent disablement. If the worst happens, having Living Benefits allows you to avoid having to rely on government assistance, your family or existing savings (all of which might be inadequate) to support yourself.

Total & Permanent Disability (TPD) Cover is an important additional benefit that you can choose to add to your existing life cover policy as an optional extra. It protects you if you should suffer a total and permanent disability and can longer manage your home or work in any occupation.

Another optional benefit to seriously consider is our Trauma and Trauma Plus Cover, policy additions that offer extra protection if you should suffer a serious injury or illness, including specific types of cancer, heart attack, stroke or coronary artery bypass surgery. Our standard Life Cover as well as any additional benefits (TPD, Trauma and Trauma Plus, etc.) come with specific terms, conditions, limitations and exclusions, so please read the relevant Product Disclosure Statement for full details of what’s covered. Here is a handy quick comparison of Budget Direct Life Insurance options and some FAQs to answer those common questions about our super-affordable cover.

This is the right time to get a quote

If you’re young and single, there is no better time to choose Budget Direct for all your life insurance needs. Why? Because we’re affordable, and you can choose the benefits that suit your personal requirements and fit in with your existing budget. We also offer a 30-day cooling off period, an efficient, straightforward claims process, friendly, helpful staff and a reputation based on dedicated customer service. So what are you waiting for? Grab a quick online quote for Budget Direct Life Insurance today - and save!


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A 10% existing customer discount for new Budget Direct Life Insurance policies.