Life Insurance for Singles
It is logical that when you are single, young, and probably just starting your life, life insurance would not be included in your list of priorities. There are many reasons why you must consider getting a life insurance policy at this stage. First, you should start saving for the future, especially if you intend to have a smooth retirement age.
Second, being on the prime of your life, you surely are on top of good health. Health of a person is often taken for granted. Unfortunately, it changes as you grow older. Applying for a life insurance policy would be easier and less costly. In general, insurance products made available to younger and single people are much cheaper compared to those offered to older and married individuals.
It is also advantageous if you could still answer ‘No’ to all the medical questions that are present in application forms. The healthier you are, the cheaper your premiums could be and the better coverage you could get for your life insurance. This is not unique to Australian life insurance products as it is also widely applicable anywhere in the world.
Being young and single could be considered as the best age to apply for and buy a life insurance policy. It would be less costly in the long term if you would start paying for premiums while you are still young. If you are single and under the age of 30 years, you would have a greater chance to find and get a very attractive life insurance package with small premium.