As an empty nester, your life looks very different from when you were raising a young family. With children grown and financially independent, your financial priorities may shift — but that doesn’t mean life insurance is no longer important.

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At Covermate Life, we’re a life insurance broker providing general advice only. That means we don’t tell you what’s best for your personal situation, but we do help you understand your options and compare policies from leading insurers in Australia.

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Why Life Insurance Still Matters for Empty Nesters

Even when the kids have moved out, life insurance can continue to provide value:

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• Protecting your partner or spouse – Ensure your loved one can maintain their lifestyle without financial stress.

• Paying off debts – Many Australians in their 50s and 60s still have mortgages, investment loans, or other liabilities.

• Covering final expenses – Funeral and medical costs can be significant; insurance can help ease this burden.

• Creating a legacy – Some empty nesters choose life insurance as a way to leave an inheritance for children or grandchildren.

• Peace of mind – Knowing your partner and family are financially secure provides confidence in retirement planning.

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Types of Cover to Consider

Depending on your needs, you may look at:

• Life Cover (Death Cover): Pays a lump sum to your beneficiary.

• TPD (Total & Permanent Disability): Financial protection if you become permanently disabled.

• Trauma Cover: Helps cover medical expenses from serious illnesses like cancer or heart disease.

• Income Protection: Less common for empty nesters nearing retirement, but still relevant if you’re working.

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At Covermate Life, we can help you compare these types of cover from multiple insurers.

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When to Review Your Cover

Life insurance is not a “set and forget” product. As an empty nester, it’s a good idea to review:

• Whether your sum insured is still appropriate.

• If your cover is still affordable and relevant to your goals.

• Whether you need to update your beneficiaries (e.g. adult children, grandchildren, or spouse).

• How your policy fits with your retirement and estate planning.

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How Covermate Life Can Help

• We’re an independent life insurance broker.

• We offer general advice only — helping you compare insurers and options.

• We explain policies in plain language so you can make informed decisions.

• We make it easy to review, update, or apply for cover.

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FAQ – Life Insurance for Empty Nesters

Do empty nesters still need life insurance?
Yes — especially if you have a spouse, debts, or wish to leave a legacy. Your needs may be different than when raising children, but cover can still provide financial security.

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What type of life insurance is most common for empty nesters?
Life cover and funeral cover are common. Some also maintain trauma or TPD cover, depending on health and financial circumstances.

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Should I reduce my cover when my kids leave home?
Possibly. Many empty nesters choose to lower their insured amount to reduce premiums, while still keeping enough cover for a partner or final expenses.

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Is life insurance more expensive at this stage of life?
Yes, premiums generally increase with age. However, it may still be worth keeping cover for peace of mind and financial security.