Securing life insurance at 35 can lock in cheaper premiums than if you wait to buy life insurance at a later age.
Life insurance through superannuation is usually insufficient, offering around $100,000-$200,000 to beneficiaries instead of the $1-1.5 million often needed.
Your mid-30s bring major financial obligations like a home or family, making life, income protection and TPD insurance crucial.
These products offer great value, with a good score across both features and price.
7+
Great
These are competitive products, though they didn't quite get top scores.
5+
Standard
These products might offer less value or command a higher premium than others in the market.
0+
Basic
These products might only offer a basic set of features or aren't very competitive on price.
With all the new assets – and possibly people – in your life, you need to think about life insurance when you reach your mid-30s. Because you're still young and healthy, it's probably the best time to buy and lock in cheap premiums that will quickly disappear if you delay.
What are the types of life insurance for a 35-year-old?
If you're in your 30s, there are a few different types of life insurance tailored to your needs. They are:
Life insurance. Sometimes referred to as death cover, this is a policy that pays out if you die during the "term" of your cover. In other words, it only pays out if you die before the policy's expiry age, which is usually around 90 to 100 years old. In your 30s, you're likely to marry, have children and take out a mortgage. Term life insurance can provide financial protection for all these new assets.
Income protection. Another very important consideration you need to have in mind is your income. In your 20s, it's likely that you could have got by for a while without an income, but it's likely a different story by the time you're 35. If you needed to take some time off work due to injury or illness, could you still pay all your bills? Income protection can pay you a monthly benefit up to 85% of your income to make sure you still can.
TPD. Total and permanent disability insurance provides a lump sum payment if you are seriously injured or ill and become permanently disabled. As you begin to accumulate more in your 30s, TPD can be crucial if something bad happens, covering everything from medical bills and home modifications to paying the mortgage.
Probably not. If you want enough to cover everything that you currently pay for and ensure that your family continues to enjoy the same lifestyle, then life insurance through super is likely to fall short. In most cases, it will only provide your beneficiaries with between $100,000 and $200,000, which is usually nowhere near enough. Considering that you've likely got a mortgage, school fees, car loans, healthcare and day-to-day expenses to pay, it's generally not enough for the average Australian.
Standalone life insurance, on the other hand, can cover you for more than $1,000,000, which is far closer to the amount your dependants would actually need when you die.
How much is life insurance for 35-year-olds?
Life insurance is usually very affordable for 35-year-olds, largely because you're still young and likely have little to no health issues. Factors such as your age, health, job and the amount you're applying for will be your insurer's main considerations when determining your premiums.
But let's talk averages. The longer you put it off, the more expensive taking out cover gets. See the full breakdown of weekly costs of life insurance for different ages and genders below.
Non-smoking female
Gender
$500,000 policy
25
Female
$6.17
35
Female
$6.39
45
Female
$10.48
55
Female
$32.28
Non-smoking male
Age
Gender
$500,000 policy
25
Male
$9.50
35
Male
$8.04
45
Male
$13.26
55
Male
$47.31
We compiled life insurance quotes from 12 Finder partners. These are the average costs for a non-smoker with no medical conditions and earning a gross annual income of $80,000. Quotes researched as of April 2025.
How much life insurance do I need at age 35?
This depends entirely on your personal circumstances, but there are a few simple ways to work it out. Our life insurance calculator can give you an idea of how much you'll need but on average, around $1 to $1.5 million is generally what most people in their 30s need. This is because this is often a new stage in your life when your responsibilities and financial obligations increase.
As a gauge of how much you'll need, it's generally said that your life insurance cover is around 10 times the amount of your annual income. So if you earn $150,000 a year, you'll want to have around a $1.5 million payout.
You can also buy life insurance through an adviser. This will cost you a little more, but that's because they'll do all these bits for you and make sure that you've got cover for the right amount. If that's the way you want to go, you can find a broker here.
Finder Score - Life Insurance
Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 30 products and gave each one a score out of 10.
But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.
You pay the same price as buying directly from the life insurer.
We're not owned by an insurer (unlike other comparison sites).
We've done 100+ hours of policy research to help you understand what you're comparing.
What should I be taking into consideration?
When comparing some of the best life insurance and working out how much you need, make sure you consider everything on the following list:
Your mortgage and how much it would cost you to pay it off.
Debts you have, including your own tuition fees, car loans and credit cards.
School fees so that your child or children can continue to receive the same standard of education.
Health insurance and healthcare costs, taking family members' health needs into account.
Funeral costs, which usually range from around $4,000 to $15,000.
Everyday living expenses, from groceries to fuel and car insurance.
Pros and cons of life insurance at 35 years old
Still on the fence about whether life insurance at 35 is worth it? Check out the pros and cons:
Pros
Premiums are cheaper if you get a policy now. On average, you'll pay $14.26 a month for a $1 million policy at 35 and you can choose to stay the same forever. That goes up to a whopping $287.52 if you buy when you're 65.
You're covered if the worst happens. Nobody wants to think about it, especially when they're just starting a family and buying a home, but if you die, life insurance makes sure your loved ones can live the life you were building for them.
The benefit is tax-free. If your policy covers you for $1 million, that's exactly how much your family will get; the death benefit is tax-free.
You can adjust your policy. Just because you're getting it when you're young, doesn't mean you can't adapt or change your policy as your life changes. Life insurers are aware of this and make it very easy to upgrade or downgrade depending on your needs.
Cons
It's an added expense. You've probably got lots of other things on your plate to pay for. Life insurance is another expense, albeit an affordable one if you get in early. It really comes down to whether you're willing to risk it or wait until later when it's much more pricey.
A medical is often required. If you're young, fit and healthy, this will actually benefit you because you'll attract lower premiums. But if you have a pre-existing condition, you might have to pay more.
Are there any exclusions I need to be aware of?
If you've never had a life insurance policy before, then it's worth pointing out some common life insurance exclusions. They're not startling, but they're worth knowing:
Suicide. Insurers usually don't cover you for suicide for the first 13 months of buying a policy.
Illegal or criminal activity. Pretty obvious, but if you're injured or killed while taking part in something illegal, the insurer has the right to deny the claim.
Drug or alcohol use. You won't be covered for injury or death as a result of drug or alcohol use, unless prescribed by a doctor.
War or warlike activity. This may seem a little far-fetched for most, but still worth knowing you won't be covered for death due to civil unrest, riots or war.
Sport. This is really only an exclusion if you're consistently taking part in dangerous sports, activities or risky hobbies like skydiving. You could still be eligible for income protection though.
Bottom line
Your 30s are usually when you start making big decisions: starting a family, buying a home, getting married. With all these new financial responsibilities, you need to be prepared for the worst. Luckily, buying life insurance when you're in your 30s is one of the most affordable times to do it. It's something you'll need eventually and the longer you put it off, the more expensive it becomes.
Frequently asked questions
Life insurance premiums generally come in two main types: stepped and level. Stepped premiums increase each year as you get older and your risk of claiming increases. They are cheaper to start with but become significantly more expensive over time. Level premiums on the other hand are calculated based on your age when you first take out the policy and remain fixed or mostly fixed for the life of the policy. While they start more expensive than stepped premiums they can be much cheaper in the long run. For a 35-year-old, choosing level premiums can lock in lower overall costs saving you money in the future.
Yes you can. While life insurance, income protection and TPD cover are common, many 35-year-olds choose to add trauma cover also known as critical illness insurance. This type of cover provides a lump sum payment if you suffer from a specific critical illness or injury listed in your policy such as cancer, a heart attack or a stroke. It can help cover medical expenses recovery costs or provide financial support if you are unable to work during your recovery.
It is a good idea to review your life insurance policy at least once every few years or whenever a significant life event occurs. For a 35-year-old this could mean reviewing it after getting married, having children, buying a home, or taking on new debts. Your financial obligations, family structure and income can change dramatically over time, so ensuring your cover still meets your needs is crucial. A regular review helps make sure you are adequately protected without overpaying.
Not always, but it is common. When applying for life insurance at age 35 depending on the insurer the amount of cover you need and your health history you may be asked to complete a medical questionnaire undergo a phone interview or in some cases have a full medical examination. If you are young fit and healthy this process often benefits you as it can result in lower premiums. Disclosing all relevant health information is important to ensure your policy is valid when you need to make a claim.
Absolutely. While many people associate life insurance with protecting a family it can still be highly beneficial for a single 35-year-old without children. For instance, if you have a mortgage, other debts, or financially dependent parents or siblings, a life insurance payout can cover these obligations ensuring they are not passed on to others. It can also cover your funeral costs, leaving your estate intact. Additionally, getting cover now means you lock in lower premiums which will be significantly more expensive if you decide to buy later in life when you might have dependents.
Generally, the cost of standalone life insurance policies taken out by an individual is not tax deductible in Australia. However, the benefit paid out from a life insurance policy upon your death is usually tax-free for your beneficiaries. There are some exceptions for life insurance held within a superannuation fund, where the premiums might be paid from pre-tax contributions, or for income protection insurance premiums which are typically tax deductible. It is always best to seek advice from a financial advisor or the Australian Taxation Office regarding your specific circumstances.
Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards.
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