Ask An Expert

I’m in my 30s and have just started a family, but do I need life insurance?

When you should take out life insurance is more marked by what stage you’re at in your life, rather than what age you are. While life insurance will usually be cheaper the younger you take out a policy, many don't really think about it until they have children.

One of those life stages is having children or other people who depend on your income. Family life insurance is there to provide financial support should the worst happen – you may want to ensure your family has enough to get back, as well as pay off any debts you have such as a mortgage - for this reason alone, it is advisable to look into life insurance even if you are single and don't have children

That average cost of life insurance increases with every age bracket from then on, so again the advice rings true: buying when you’re young will save you money, even if you’re paying for longer.

Generally speaking, our thirties are when debts are great and disposable income small. It’s when most people take out a mortgage, start a family and are climbing a career ladder. But, it’s also when life insurance prices aren’t yet prohibitively expensive, so if you’re young and have recently started a family there’s no better, nor more sensible time to take out a policy.

Related guides

We endeavour to keep our users fully informed when it comes to making a purchasing decision. Please read through our handy guides to find the information you need.