Do I really need life insurance? Here are 4 questions to ask yourself

Not sure if life insurance is right for you? We take a closer look at some of the key considerations.

Deciding whether or not you really need life insurance isn't always easy. There are so many different factors at play.

Do you have children? Does your partner have financial needs of their own? What can you afford to pay now for a benefit later?

These aren't necessarily straightforward questions with easy answers. Things will evolve and change over the course of your life.

And – let's be real with ourselves – thinking about life insurance involves thinking about the end of life, which isn't enjoyable.

But pushing all of these concerns to one side doesn't necessarily set you up for success in the long run.

So with this in mind, we're taking a closer look at whether or not you need life insurance – and some questions you can ask yourself to decide.

We'll also take a look at how Zurich can help, if you do decide that you need it.

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1. Why should I get life insurance?

One of the biggest misconceptions about life insurance is that it's only useful after you pass away.

But this isn't true at all! A life insurance policy can actually protect you (and your family) in a bunch of different situations.

Let's take a look.

For example, if you got into an accident at work and were permanently disabled, you would be able to make a claim on your life insurance policy.

So in many ways, life insurance is more about protecting your financial wellbeing and lifestyle if something unfortunate happens. It just covers a different set of circumstances in comparison to say, health insurance or personal accident insurance.

As Zurich customer Kylie notes:

"Life insurance matters to me because it protects the people I care about from financial stress during the hardest moments. It ensures loved ones can cover expenses, maintain stability, and focus on healing rather than worry. It's peace of mind knowing my support continues even when I no longer can."

Looking at life insurance from a more holistic perspective can help you make a more informed decision about whether it's right for you.

2. Aren't I too young to worry about life insurance?

We've talked a bit about how life insurance isn't just about looking after friends and family when you pass away.

All well and good, but what if you're young?

It's easy to think that you don't need to worry about it for years (or even decades) to come.

But hold that thought. There are some numbers you should know -- and think -- about.

In 2025, Zurich paid out 8,479 life insurance claims.

Now, at face value you'd assume that they would be for mostly senior citizens, right?

Not so.

More than a third of those claims were paid to people aged between just 36 and 50.

There were also more than 300 claims from people under 35. And really, that should give you some pause for thought.

There can also be benefits to opting for life insurance younger, as your maximum benefit is determined by your age.

The maximum cover limit is affected by your age. You can see the maximum limits available to Zurich customers in the table below.

Age vs Zurich EziCover lump sum limits

3. Isn't life insurance expensive?

We live in cost-conscious times, and people are understandably thinking carefully about where they can cut costs.

Life insurance, as we've seen, isn't always a clear-cut decision. It's important to think about your wider circumstances.

You'll need to consider whether not the cost now could be justified further down the track -- either after you're gone, or in the event of a serious incident.

Discussing this with your loved ones and possibly a financial professional can help you make a more informed decision.

4. What costs would need to be covered if I died abruptly?

Let's say the worst does happen.

What sort of expenses do you have in life that would need to be covered by your loved ones?

First and foremost, there's the funeral expenses. Even if you don't opt for a flashy affair, there are still administrative expenses that need to be paid.

Then there's the tricky topic of debt. Whether it's just minor costs or a large mortgage, these will still need to be paid.

Now, it's important to note that there are other ways some of these costs can be covered. Your superannuation is one.

But in a time when your loved ones are already dealing with stress, having life insurance in place can make things significantly easier.

Conclusion

Talking about life insurance isn't necessarily easy.

But taking the steps to do it sooner rather than later can make a big difference to the long-term wellbeing of your loved ones -- and potentially you, too.

To find out more about life insurance with Zurich, just visit their website.

Learn more about Life Insurance with Zurich