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Single? Why You Need Life Insurance | Naples Insurance Agency | Fort Myers Insurance Agency

May, 17

Life Insurance for young single peopleMany people believe that only older people or those with children need life insurance. This is not true. Even young twenty-somethings can benefit from having a life insurance policy. Accidents happen. People are not meant to last forever and the day you pass away cannot be planned. We’ve listed some of the reasons here:

  • Funeral expenses: Even the young die. Unfortunately, accidents, illnesses and crime are facts of life. Who will pay for your funeral and all of the expenses associated with it? Your family will be in mourning and it would be difficult to have the added burden of paying for your funeral.
  • Reduce costs: By locking into a life insurance policy while young, you will be paying a lot less than if you wait until you are older.
  • Debt: Debt does not die along with you. Someone will need to pay those loans that your bank gave you. Especially student loans. Banks have been known to call in a loan just days after a person’s death. Save your parents/relatives the additional burden of paying your debt off after you pass away.
  • Living expenses: If you have a roommate or are living with a significant other, most likely you are sharing the expense of your apartment, condo or house. To leave them with the expense of taking on all of the bills themselves might be too taxing. Life insurance can help provide your share of the rent/mortgage in the event that you pass away unexpectedly.
  • Caring for aging parents: If you have someone in your life, usually a parent, who you know you will be caring for in their old age, then having a life insurance policy in place is important. You are able to plan on future expenses (such as caring for an elderly parent or a disabled family member) through your policy which will ensure that they are cared for in the event of your death.

You can see how having a life insurance policy in place while you are single is something that you should consider. It is not easy to think of your death, especially as a young single person. But, it is responsible of you to take care of those who will be grieving over you and to ease the possible additional financial burden that you might leave behind.

Give us a call to talk with our advisors about customizing a life insurance plan that fits into your life. We have the experience and knowledge to help you find the perfect plan for you. Call Centennial Insurance Services at 239-247-5125 or visit us online for a quote or to schedule an appointment at cisinsfl.com

Originally posted: Single? Why You Need Life Insurance

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