Don’t get stung-Insure whilst young

Whilst most young people aged under 30 have probably never even thought about life insurance, it’s probably the best time to purchase it.


Life insurance premiums are calculated on the likelihood of a claim being made. So, the younger and healthier you are the less of a risk you pose, which means, lower monthly premiums.

Life insurance pay outs are most commonly used to pay off a mortgage, settle outstanding debts, cover funeral costs and leave an inheritance to loved ones. As many young people may not have a mortgage or started a family it’s easy to overlook aspects like this. But bear in mind life insurance policies can last for more than 40 years, during which time most of the above will become relevant.


The cost of your life insurance is calculated at the time of application, and any changes during the policy, including your health, will not increase your premiums. So, taking out a life insurance policy in your younger years allows you to be covered at a lower cost even as your responsibilities and lifestyle changes in later years.