Oct 20
Single? You may still need life insurance
Most single people don’t need term life insurance because no one depends on them for financial support. But like everything, there are exceptions.
For example, do you financially support your aging parents or siblings? Or maybe you have an unprecedented amount of debt that you don’t want to pass on to your surviving loved ones. What about considering your future insurability? – If you’re young and healthy now you’ll most likely be rewarded with the best rates available.
You should also consider life insurance if you anticipate a future need for it. For instance, you see yourself getting married and having children in the future. Since term life rates are near record lows, now is a great time to lock in an affordable life insurance premium while you’re young, healthy and single!
Taking care of this important financial step now will ensure your future insurability. Did you know that if you develop a severe medical condition later in life you may be labeled “high risk” or “uninsurable”. By owning a policy in your younger years, you will usually never be denied life insurance coverage in the future due to health and lifestyle factors.
The fact is: life insurance will get you through all of life’s most important stages – from paying off your student loans to sending your own child to college. Let’s face it; you probably won’t be single and free from financial responsibility forever!
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