Young people rarely want to think about death or that they may ever need something so "old" as life insurance. However, married people aren't the only ones who will benefit from having a decent life insurance policy. Single people have debts just like everyone else. They also have final expenses to pay for if the unexpected should happen. Buying a life insurance policy while you are single will build you a strong foundation for the future and give you peace of mind.
Just because you are single, it doesn't mean you don't have financial obligations. Single people may have dependents. They may be caring for elderly parents or a disabled sibling. Many single people have large student loan debts. Factually speaking, single people have many of the same concerns as married people; they just don't have the financial or emotional support of a spouse. When determining whether or not you need life insurance, consider your financial obligations and who will be responsible for them when you are gone.
Your financial obligations will determine the type of life insurance you need. If you are only concerned about your final expenses, choose a term policy. If you have a variety of debts or want to take care of your parents or other dependents, a whole life policy may be a better option. If you want to plan for your future, you may want to look into a universal policy that includes investments and a cash value option. Talking to a financial advisor or insurance agent with a financial background will help you make the best choice.
When it comes to your life insurance needs, you will want to go over your future goals. Do you plan on staying single? Do you want to eventually get married and have a family? Do you own your business? Your life insurance needs will depend on your goals and how you plan on reaching them. If you are unsure about your future but still want the security of a good life insurance policy, talk to your insurance agent and see what they recommend.
The next step in finding a good life insurance policy is to know your credit history. Your credit history is one of the many factors that will dramatically influence your ability to get life insurance at an affordable price. If your credit score isn't what it is supposed to be, take some time and work to pay off small debts. Little steps can make a big difference in your credit score.
Just because you're single, it doesn't mean you won't benefit in some way from a quality life insurance policy. Contact the agents at Liberum Insurance to learn more about the many different types of life insurance policies. We can go over your needs with you and make sure you have the right coverage for your needs. Schedule an appointment today and allow us an opportunity to help build your future.
Liberum Insurance is an Independent Agency. We have access to top A-rated carriers so we can provide great coverage at competitive rates. Our priority and fidelity are to our clients first.
