When you’re in the prime of your life, getting life insurance for a 30 year old is pretty easy. There are plenty of policies to choose from and you have good health and finances. In your thirties you’ve probably settled into your career and are starting to kick some real goals. You may be about to buy a house, or have already bought one. You might be starting a family. Your thirties are when you really begin to build a life, filled with family and responsibility. This is the right time to take an insurance policy and safeguard your family’s future. It’s the most important time of your life to think about Life Insurance, if you haven’t already.
Whether you have a partner and children or you’re single, by your thirties you’ve most likely accumulated a number of financial responsibilities. You’ll have more to protect should you fall ill, become injured, or die.
This is also an important stage of your life to take control of your finances and set up a strong plan for your future. And insurance is an integral part of a healthy lifelong financial plan. So whether you’re a parent in your thirties or a loner, take the first step in building a robust financial plan and sign up for life insurance for 30 year old sensible adult.
There are a number of different types of insurance you’ll need to consider in your thirties, from home and contents insurance to business insurance. But, one of the most commonly overlooked insurance policies is Life Insurance.
Many people get a basic level of Life Insurance through their employer or super fund and pay little attention to the level of cover and the benefits they would receive – quite often the level of cover provided is not enough for your individual needs and will not support your family if there were ever an emergency. (To fully explore insurance through your super, click here).
There are a number of different types of insurance which fall under the Life Insurance bracket. You should give each one equal consideration:
Life Cover: This will provide a lump sum payout to your family or nominated beneficiaries in the event of your death. Life insurance for 30 year old male parent is essential financial security for your family. It can help meet children’s education, family mortgage, and daily expenses. While your family grieves, it will protect them from immediate financial distress.
TPD Insurance: Total and Permanent Disability insurance (TPD) will provide a lump sum payout to you if you are injured and become permanently disabled. This will help pay for medical costs and rehabilitation and can settle any debts you may have.
Trauma Insurance: Trauma insurance is also known as critical illness insurance. This type of insurance will pay out a lump sum if you’re diagnosed with a serious medical condition.
Income Protection Insurance: Income Protection will provide you with regular payments of up to 75% of your regular income if you’re injured or become ill and cannot work for a period of time. If you are a female looking for a new job and supporting a young family at the same time, you can take advantage of life insurance for 30 year old female candidates.
Along with your house and car insurance, the above policies should be a part of your insurance portfolio to protect you and your family from serious financial hardship if you become ill, are injured or pass away. No matter your age, your thirties are a time when you cannot, and should not delay getting life insurance for 30 year old people.
Whether you’re simply a couple, or you’re starting to grow a family, it’s a good idea to consider a Couples or Family Insurance policy.
These policies condense two individual policies into one, tailored to meet your needs with potential discounts on the cards. A non-working member of the family may provide the equivalent of monetary value in their work looking after the kids or completing tasks in the home.
Any financial advisor will tell you that Life Insurance is an important part of your long-term financial plan, since owning a Life Insurance policy provides a number of benefits – particularly when bought young.
In your thirties and forties, you’re probably healthy. You might not have acquired any medical conditions and are not yet at an age considered a higher risk by insurers. That means your premiums will be relatively low compared to an older person. This will translate into long-term savings, and depending on the type of premium you choose, your premiums will increase less throughout the rest of your policy. So you save more and also spend less while getting to choose from a wider pool of insurances if you get insured in your thirties.
Importantly, Life Insurance builds cash value over time, and is included as part of your personal wealth and equity. You may be able to access this cash value in the event of a financial emergency. You are also able to borrow against your Life Insurance total, meaning that it will improve your likelihood of obtaining a loan.
If you own your own business, there are different kinds of insurance you may need to consider to protect yourself and your business in the event of your own or an employee’s injury or illness.
Business Expenses Insurance covers the cost of running and maintaining your business if you become injured or ill and are unable to work.
If you want to talk to a finance expert about your insurance options, both for your family and your business, contact a Wealth Smart advisor today. We can talk you through your options, and help you find the best policies and the cheapest price for your needs. See for yourself what top insurers in Australia have to offer you. Get in touch today for life insurance for 30 year old men and women. Call us at 1800 765 100.
Life, TPD, Trauma and Income Protection premiums are calculated using your age. The younger you take out a policy the cheaper it will be. Other factors such as occupation and gender are also required for an accurate quote. Use our calculator to find out How much you cover will cost. You can run a personalised quote.
Yes, a client in their 40’s is absolutely able to apply for this cover. Life cover often doesn’t expire until age 100 or higher.
Yes, if you purchase a life insurance policy at age 30, you could potentially have a 70 year long life insurance policy if the expiry age of the policy is age 100, for example.
Your 30’s is often a great time to look at a personal insurance plan. You might be taking out new debt on a home or starting a family. It is time to start planning for what might happen in a worst case scenario. Life insurance provides protection if the primary bread winner in the family is no longer able to provide an income.