There may be a bunch of myths and quite a bit of confusion about life insurance. One of these is that single people do not need life insurance. But single life insurance is not only important; it might be vital. Many Americans today may believe that life insurance is only for the elderly or their parents; however, they sometimes may fail to realize that life insurance could help cover the financial debts left on an estate in the event of a death at any age, for any marital status or with any occupation. For more reasons to buy single life insurance, visit the article “Why Single People May Need Life Insurance.”
Single life insurance may help your beneficiaries when you have accidents, which may be more likely when you are younger. When you buy a whole or term life insurance policy when you are young and healthy, your rate will generally also be lower. Rates may increase as you get older. Buying single life insurance coverage today could help offer a reduced rate and the protection that you may need when you need it.
In addition, some young adults are genetically predisposed to cancer or heart disease, which could make it harder to get insurance when you are older, so buying before an issue arises might be most suitable. There could also be numerous costs associated with funeral expenses, and both whole and term life insurance could help cover this, thus helping to prevent your beneficiaries from covering the entire burden of these expenses. Find out more about term life insurance rates here. Your term life insurance policy could also help pay off your existing debts that remain outstanding even when you die. Finally, some life insurance policies may offer cash value and could help serve as a long-term investment, which may allow you to take out money tax-free.
These are just a few reasons you may want to have a single life insurance policy.
To get quoted for single life insurance policies, just fill out this online form for free!