There may be a lot of confusion about life insurance policies and to whom they apply. One popular myth is that single people do not need life insurance. This may not be further from the truth. In fact, single life insurance may be not only important but might be vital. Many Americans today may think that life insurance is only for the older generation or their parents; however, they do not know that life insurance may also help cover the financial debts left on an estate in the event of death for any age, marital status or occupation.  To learn more, please read the article “Do Single People Need Life Insurance?”

Single life insurance could help assist you when you have accidents, which may be more likely when you are younger. When you are young and healthy and buy a whole or term life insurance policy, your rate may be lower because rates could go up as you get older. Buying single life insurance coverage today could help offer a rate at a lowered cost as well as help you get the protection that you need when you need it. Some young adults may be genetically inclined to develop cancer or heart disease as they age; however, it is harder to get coverage when you are older and already sick. That’s why buying before an issue arises might be advisable.

There can also be numerous costs associated with funeral expenses. Both whole and term life insurance could help cover these costs. You may not have to worry about burdening your surviving loved ones or spouse with these expenses. Your whole or term life insurance policy may also help to pay your existing debts and lastly, some life insurance policies may provide cash value and could offer the option of long-term investment, which may allow you to pull out money tax-free. Having a single life insurance policy could make sense for all of these reasons. Get online quotes to help determine whether life insurance may be right for you.

Read more about term life insurance rates.