When should I get life insurance?

ARTICLE
5 May 2025 dot 3 min read
At AIA Financial Wellbeing, we’re here to help you navigate life’s big decisions, including when to get life insurance. Understanding how life insurance fits into your overall financial plan can bring clarity and peace of mind.
 
So, when should you start thinking about getting life insurance? Here’s five life moments that might prompt you to think about what (and who) you need to protect.
 
  1. At a milestone birthday
    As we reach significant birthdays, like turning 30, 40, 50 or beyond, life tends to change. You may be taking on bigger financial commitments, like a mortgage, raising a family, or supporting others who rely on you. These are natural points to review your safety net. It’s also a time when health can change, making it smarter to secure or adjust cover before premiums rise.

  2. Buying a house
    Whether it’s your first home, an investment property, or other significant debt, these financial commitments can create long-term pressure. If something were to happen to you, these repayments remain. Life insurance helps relieve that burden, giving your family the means to pay off debt and maintain financial stability.

  3. When you get married
    Committing to a partner often means sharing finances, goals, and responsibilities. It’s not just about building a life together, but also about protecting it. Life insurance can provide your partner with financial security if the unexpected occurs – whether it’s covering living expenses, paying off shared debts, or maintaining the lifestyle you built together.

  4. Starting or growing your family
    Raising a child brings both joy and responsibility. As a parent, you want to make sure your children are cared for, no matter what. Life insurance helps provide that security, ensuring your children would have financial support if you were no longer there to provide it.

  5. Launching a business
    Starting a business is a big achievement, but it also carries financial risk. Beyond your family, others may depend on the success of your venture – like business partners, employees, or investors. Life insurance can help protect all that you’ve built, providing security to those who rely on your leadership and helping safeguard the future of your business.

Why earlier is often better

While big life events might prompt you to act, there’s also value in getting cover sooner rather than later. When you’re younger and healthier, premiums are generally lower – and you’ll be covered well before any health issues arise.
 
Waiting could also mean higher costs or difficulties securing cover if your health changes unexpectedly. Acting early can provide long-term peace of mind at a more affordable price.

So how do you get the right insurance at the right time?

Life insurance is about protecting the people and priorities that matter most. Whether it’s covering everyday expenses, medical bills, or mortgage payments, life insurance helps your family find stability during a difficult time.
 
At AIA Financial Wellbeing, we can help you find life insurance that fits your needs – and make sure you have it in place at the right time. We’ll guide you through your options, so you can feel confident knowing that you and your loved ones are protected now and into the future.

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Disclaimer:
Copyright © 2025 AIA Financial Services Pty Limited (ABN 68 008 540 252, AFSL 231109), trading as AIA Financial Wellbeing. All rights reserved. This information is current at the date of this publication and is subject to change. This provides general information only, without taking into account factors like the objectives, financial situation, needs or personal circumstances of any individual and is not intended to be financial, legal, tax, health, medical, nutritional or other advice. Before acting on the information in this publication, individuals should consider its appropriateness having regard to such factors.