Let’s be honest – no one wakes up in their 20s thinking, “Today’s the day I get life insurance.” It’s not exactly exciting. But here’s the thing: life insurance isn’t about doom and gloom. It’s about making sure your people are sorted, just in case.
And the big question? When’s the right time to get it?
Here’s the short version:
The earlier, the better. Especially if you’re healthy.
Why age matters
Insurance is all about risk (but don’t worry, I won’t get technical). Basically, the younger you are, the less likely you are to make a claim – so your premiums are lower.
If you’re in your 20s or 30s, you’re probably in the best shape of your life. That’s exactly when insurers want you on board. Lock in cover early, and you can keep that lower price locked in for years.
I’ve seen plenty of people wait until their 40s or 50s, only to get surprised by how much it jumps – or worse, they’ve developed health issues that make it trickier to get covered.
Do you need Life Insurance when you're Young?
It depends. If you’ve got:
- A mortgage
- Kids
- A partner relying on your income
…then yep, it’s probably time.
Even if you’re single, it can still be worth it. Some policies include things like terminal illness cover or early payouts if something goes really wrong. Plus, future you might be grateful you sorted it when it was cheaper.
So, what’s the “perfect” age?
There’s no magic number, but here’s a rough guide based on what we see:
- 20s – Super affordable, great for locking in cover early
- 30s – Still very reasonable, especially if you’ve just bought a house or had kids
- 40s+ – Definitely consider it if you haven’t already (but expect to pay a bit more)
Our final thoughts
Life insurance isn’t fun to think about – but it’s one of those grown-up moves that actually makes life easier. If you’re wondering whether now’s the right time, chances are… it probably is.
And hey, if you’re ready to check out what’s out there, we’ve got you covered. You might even get a couple of months free.