When you’re young and single, chances are you’re not overly concerned about anything other than living in the moment. After all, if something happens to you, then there may not be anybody left behind to suffer the financial consequences! Nonetheless, there are a few reasons why you should consider Life insurance and other types of cover.
An exciting life stage
If you are young and single, you are likely considering moving out of home or have just purchased your first property, and are working on consolidating your career. You may also be travelling while you have the opportunity to do so.
There are perhaps few times in life when you have as many bill payments going out but as little income coming in as when you are young and single.
Why insurance is important
One of the key insurance policies that can help provide a financial safety net for singles is Income Protection insurance. Like many young singles, you might struggle to survive without your regular income for a few weeks if you were unable to work. This type of insurance is designed to cover your wages so you can maintain your lifestyle and pay your bills until you’re back on the job.
If you hold a Life insurance policy, then any debts you leave behind can be paid off, including a mortgage, and the beneficiaries of your estate, perhaps siblings or parents, can benefit from the legacy of your hard work.
Most Life insurance policies will finalise a claim so that your funeral is paid for, so that your remaining family members will not be out of pocket.
If you obtain Life insurance while you are still young and otherwise fit, then the premiums are also likely to be more affordable and, depending on the terms of your policy, may remain at a lower rate throughout your life.
Dedicated personal service and security during claim time
If you are after the best value Life insurance for a young single, contact NobleOak today. We can provide a Life insurance quote and give you information on the various types of cover that NobleOak provides.
Our range of cover for singles includes Life insurance, Total and Permanent Disability (TPD), Trauma, Income Protection (and Business Expenses cover if self employed), so you can relax knowing you have financial security in the event something unforeseen occurs. This will allow you to focus on more important things in life – like that next overseas holiday!
With policies starting from $2 a day, you don’t have to pay much to enjoy peace of mind!