Top Reasons Singles Need Life Insurance
Even if you’re single, you still may need life insurance to protect your finances.
Many people, understandably, believe that life insurance in Thousand Oaks is for married couples and those with kids. Unfortunately, this is a costly mistake to make. If you’re single, you can benefit from it, too. While not everyone needs life insurance, there are a number of reasons when it can make good financial sense.
You have student loan debt. It is true that some debts, like federal student loans, will disappear when you die. The government will effectively write off these loans if they’re unpaid, and no one will need to pay them. If you have private student loans co-signed by your parents, they may be responsible for paying it off if you die. There are instances when the bank has called for the loan to be paid in full immediately following a death.
You’re living with someone. If you’re living with a significant other, it’s likely that you either rely on both of your salaries to pay the rent/mortgage and the bills. If one of you dies prematurely, the other may have to sell the property, move immediately, and may suffer financial strain.
You want to have kids. Children aren’t cheap. It can take thousands of dollars to have a child and that’s not even including the cost of college. Getting a life insurance policy now means that you have coverage in place for when you do have a child and a family to protect.
You’re young and healthy. This may not seem like a reason to get life insurance, but age and health are two major factors of how much you’ll pay for insurance. By getting insurance while you’re fit and youthful means that you’ll lock in a low rate and reliable protection.
You care for your family. If you have aging parents or a special-needs sibling or another family member who you take care of, you won’t want to leave them without support if you pass. Life insurance can ensure that there is money in place to fund their needs in the future.
You’ll have funeral expenses. While it is a morbid thought, your funeral may run up some expenses and someone will have to pay for it. You don’t want to leave your parents, partner and other family members struggling with grief as well as paying for a funeral and burial.
Check out why Coleen, who was juggling school and a job, took the time to secure life insurance.
Life insurance doesn’t have to be costly and complicated. Falsken & Associates Insurance Agency provides reliable life insurance in Thousand Oaks and neighboring cities in California. Contact us to get started on your important policy.