When to Consider Life Insurance

Life insurance is often seen as something to sort out “later,” but acting early can save money and provide lasting security. Rather than waiting for the perfect time, think about cover whenever you reach a major life milestone — these are often the triggers for most Australians:

• Significant birthdays – Turning 30, 40 or 50 often coincides with growing financial commitments and rising premiums.
• Purchasing property – A policy can help ensure your family won’t be left with mortgage repayments if something happens to you.
• Marriage or partnership – When two incomes and goals merge, it’s worth protecting each other’s financial future.
• Welcoming children – Cover can give peace of mind knowing dependents are supported if you’re no longer around.
• Starting a business – Safeguards partners, staff and investors from unexpected financial strain.

Why act early? Premiums are typically lower when you’re younger and healthier, and you can avoid difficulties if your health changes later. Reviewing your cover every few years, or after any significant life change, helps keep it aligned with your needs.