If you are single, why would you need individual life insurance?  Many single people may ask themselves this very question and the answer is typically simple; so that your loved ones are not left with the financial burden after you are gone.  Life insurance isn’t just for families; it is for individuals and single people as well.  It is a way to protect your loved ones from having to bare the final costs that you leave behind.

Individual life insurance typically insures a policy holder while naming another person as the beneficiary.  In this way, the beneficiary and loved ones may be able to use the benefits to pay off any outstanding debts such as car payments as well as the funeral and other expenses.  Without this type of life insurance, your loved ones may be left struggling to pay for your debts which could leave them financially strained their selves.

Individual life insurance is typically a good idea if you are single but still have children.  Oftentimes the final debts may fall upon the children to take care of and having individual life insurance may ease that burden considerably.

Although it is not pleasant to thinking about passing, it might be a good idea to make sure that no loved ones will be burdened with your final debts.  Research different life insurance companies to get a life insurance quote that will meet your needs and protect your loved ones after you are gone.