Life insurance for young singles
Plan for your now and your tomorrow.
Being young and single is an exciting time. You’re free to dream big and explore, experiment with your career options, seize opportunities and build your life the way you want to live it. Life insurance may not be front of mind now, but taking out a life insurance policy early in life can have some advantages and benefits for the future you’re planning.
TAL insurance options
TAL Life Insurance is flexible and designed to grow with you, providing you with the right level of cover through all of life’s milestones. TAL offers the following life insurance products:
Life Insurance
Protects your family’s future and gives them options if you are no longer around.
Income Protection Insurance
Provides you with an income to help you continue living your life if you have an injury or illness and can’t work.
Critical Illness Insurance
Means you have choices so you can still make the most of life if you have a serious illness.
Total and Permanent Disablement Insurance
Gives you options to help you live a better quality of life if you are permanently disabled and can’t work again.
Do I need life insurance if I am young and single?
You’re young and healthy and the future looks bright, so you may not feel like you need life insurance right now, however you might want to consider this:
- Do you have debt such as a student loan, car loan, or credit card balance?
- Do you rely on your income to pay your bills and living expenses?
- Do you plan on getting married, investing or buying a home some day?
- Does the thought of asking your parents for support make you uncomfortable because you value your financial independence?
If you answered yes to any of these questions, a life insurance policy could be worth considering.
Benefits of life insurance for young singles
Financial independence
Being able to pay your own bills and support yourself is the first step into adulthood.
Life insurance may help empower you to maintain your independence if the unexpected happens, which can be vital if you have no one else to rely on financially.
Cover your debts
Do you have a student or credit card debt? Perhaps you’ve bought your first home and are responsible for mortgage payments.
Life Insurance can help settle your debts if you are unable to work due to sickness and illness (waiting periods apply) or you pass away or are diagnosed with a terminal illness, so your loved ones including dependents (if any) won’t have to foot the bill.
Tax friendly
You're building your career and you want to protect your lifestyle and future goals—be that marriage, home, or having kids.
You may be eligible to claim Income Protection premiums as a tax deduction if your policy’s held outside super.
Frequently Asked Questions
IMPORTANT NOTICE
Any financial product advice is general in nature only and does not take into account your objectives, financial situation or needs. Before acting on it, the appropriateness of the advice should be considered, having regard to your own objectives, financial situation or needs. If you are deciding whether to acquire or continue to hold life insurance issued by TAL, you should consider the relevant Product Disclosure Statement (PDS) before making any decisions about your cover. The Target Market Determination (TMD) for the product (where applicable) is also available. Life insurance issued by TAL Life Limited ABN 70 050 109 450 AFSL 237848.
Terms and conditions under each insurance policy apply. The payment of a benefit is not guaranteed, as cover will only be payable if your circumstances meet the eligibility criteria in your policy.