Published on 5 December 2023 at 15:51

Life insurance is often considered an expense that can be put off until later in life. Many young adults believe that death is a distant concept and that life insurance is not something they need to consider at their age. However, there are several compelling reasons why young adults should consider taking out life insurance while they are still young and healthy.

Affordable Premiums

One of the significant advantages of purchasing life insurance at a young age is the affordability of premiums. Life insurance premiums are typically based on age and health, meaning that younger individuals generally have lower rates. By securing a policy early, you can lock in a lower premium for the long term. This can save you a significant amount of money over the life of the policy.

Future Insurability

Life is unpredictable, and it's impossible to know what health issues you might face in the future. By obtaining life insurance while you're young and healthy, you ensure that you have coverage in place, regardless of any future health conditions that may arise. Once you have a policy, it can be more challenging and expensive to get coverage if you develop health problems down the line. Therefore, it's wise to take advantage of your youth and secure life insurance while it's still easily accessible.

Investment Potential

Certain types of life insurance, such as whole life or universal life, offer a cash value component. Over time, this cash value accumulates and can be used for various purposes, such as supplementing retirement income, funding education, or even taking out a loan. It provides a financial safety net and an opportunity for long-term growth. By starting a life insurance policy at a young age, you can maximise the investment potential and enjoy the benefits later in life.

Financial Protection for Loved Ones

While you may be young and feel invincible, the reality is that unexpected events can happen at any age. If you were to pass away, someone would have to bear the burden of your funeral expenses and outstanding debts. Life insurance ensures that you don't leave a financial burden behind for your loved ones to handle. By having a life insurance policy, you provide your family with the financial means to cover these expenses and ensure their well-being in your absence.

Supplementing Employer-Provided Coverage

Many employers offer life insurance as part of their benefits package. However, this coverage may be limited and may not be sufficient to meet your needs. Additionally, it usually doesn't follow you if you change jobs. By taking out your own life insurance policy, you have control and flexibility over your coverage. You can tailor the policy to your specific needs and ensure that it provides adequate protection for you and your loved ones, regardless of your employment situation.

Peace of Mind

Life insurance, like any other type of insurance, brings peace of mind. While it may be unsettling to think about death at a young age, knowing that you have taken the necessary steps to protect your loved ones financially can provide a sense of security. In a world filled with uncertainty, having life insurance ensures that your family will be taken care of financially when you are gone. It is a responsible and proactive way to plan for the future.

Life Insurance for Expats

If you're an expat, it's essential to consider life insurance options tailored to your specific needs. Financial planning for expats can be complex, and having the right life insurance coverage is crucial. Whether you're an expat in Singapore, the UAE, Hong Kong, or any other country, it's important to discuss your life insurance needs with a professional financial adviser who specialises in serving expats.


In conclusion, young adults should not overlook the importance of life insurance. While it may seem unnecessary at a young age, taking out a life insurance policy early on can have significant benefits. It offers affordable premiums, future insurability, investment potential, financial protection for loved ones, and peace of mind. Additionally, it allows you to supplement employer-provided coverage and ensures that you have control over your insurance needs. If you're an expat, it's crucial to seek advice from a knowledgeable financial adviser to ensure that you have the right life insurance coverage for your unique circumstances. Start planning for your future today and secure the financial well-being of your loved ones.


Those who are serious about protecting themselves financially, no matter what the future holds, should consult a professional independent financial planner. To ensure the safety of you and your loved ones, we at Expat Insurance will analyse your situation and recommend the most suitable investment strategy. 

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