Life Insurance

Why you might need life insurance if you’re young

12 October 2021

You’re young, fit and healthy with your whole life ahead of you. You want to get that dream job, visit the exciting destinations where your favourite movies were shot, maybe learn a language or two. With so much yet to do and explore, you probably haven’t given life insurance much thought.

But don’t you think, that while you’re collecting memories and experiences for the future you to look back on, you should also look to protect and secure that future? That’s where life insurance comes in. It gives you the opportunity to protect your tomorrow, starting today.

Life is unpredictable

If there’s anything the COVID-19 pandemic has taught us, it’s that life can throw a curveball at any time and we need to be prepared. Serious illness and injury can strike anyone at any age, and we need to be ready with a plan B when that happens.

When you’re young it’s also the time when you start to get into ongoing long-term financial commitments. This could be signing a new rental lease, getting into the property market as a first home buyer, or purchasing your dream car. You may not realise it at the time, but these are financial expenses that continue to add up. It’s worth considering how your family, loved ones and those who rely on your income will be able to settle any outstanding debts and manage when you’re not around.

I’m young and healthy, do I need life insurance?

Life insurance protects your future and provides the reassurance to keep life going for you and your loved ones. Your loved ones get a nominated lump sum amount if you unexpectedly pass away or get diagnosed with a terminal illness. This can help ease the financial burden on your family. They can use the money they receive however they see fit and pay off whatever pressing bills that need to be paid after you’re gone.

Not all life insurance policies are the same. It’s important to be thorough in your research and understand which one is right for your circumstances. One thing to keep in mind is that when you’re young, your financial commitments and circumstances will fluctuate and change quickly. Hence, it’s prudent to go for a policy that has the flexibility to adapt to your changing circumstances as you grow older.

Suncorp Life Insurance gives you that flexibility and allows to change your cover as you go through various life stages. Whether you get married, decide to have kids or become a first home buyer, you can adjust your cover accordingly to make sure that your policy has got you covered for your current circumstances.

Whatever your needs, today or tomorrow, life insurance can be flexible enough to ensure your loved ones are cared for when you’re gone. Get a quick quote online or contact the Suncorp Life team today on 13 11 55.

Suncorp Life Insurance products, other than in some circumstances the Redundancy Benefit, is provided by TAL Life Limited ABN 70 050 109 450 AFSL 237848 (TAL Life) which is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). TAL is not part of the Suncorp Group. TAL uses the Suncorp brand (part of the Suncorp Group) under license. Any advice on this page in connection with the Life products is general in nature and is provided by Platform Ventures Pty Ltd ABN 35 626 745 177 AFS Representative Number 001266101 (PV). PV is part of the Suncorp Group and an authorised representative of TAL Direct Pty Limited ABN 39 084 666 017, AFSL 243260 (TAL Direct). General advice does not take into account your individual needs, objectives or financial situation. Before you decide to buy or to continue to hold a Life Products you must read the relevant Product Disclosure Statement. The Target Market Determination (TMD) for the product is available on our website.

See all articles

Handy Tools

Life Insurance Calculator