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do single adults need life insurance

The answer is ultimately up to you. You have clicked a link to access information on an external website, so you will be leaving westernsouthern.com. Even if a single person has no dependents, they are not entirely alone in this world. In some cases, the creditor may hold that individual financially responsible if you're no longer there to make payments. The Best Life Insurance Quotes for People Over 50. Do single people need Life Insurance? A financial representative can help you identify your needs and decide whether obtaining coverage is a suitable move for you. Please feel free to contact me at your convenience. We have every type of life insurance product available so we can find the appropriate solution to meet your individual needs and fit within your budget. Even if that’s the case, that doesn’t mean you don’t need life insurance. First, think about how much coverage you'll need. As you think about your financial future and current needs, consider the benefits our various products can offer. Recession Lessons From Gen Y]As for whether or not single people need life insurance, the answer is sometimes. Ask someone what the point of Life Insurance is, and they’ll generally give you some kind of answer relating to looking after their dependents. Third-party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content. Why Do Single People Need Life Insurance? Many people think of life insurance as a way to replace lost income when one spouse dies and the other is left to care for the children. According to USAA Life Insurance, the number of single people buying life insurance has increased 10 percent compared to a year earlier. The Company disclaims any liability arising out of your use of, or reliance on, the information. A common misconception is that married parents need life insurance more than single parents. Suite 600, Glendale, CA 91203. Planning your financial future, whether personally or for your business, involves many factors. However, for those of us that do not have a spouse or children, is the policy really necessary? Here is an example of our rates for $250,000 in Term Coverage for a healthy  non-smoker: Notice how low the rates are when you’re young and healthy. They do not address the suitability of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice. 3 Very strong capacity to meet policyholder and contract obligations on a timely basis (third highest of 21 ratings; rating held since June 2009)  And, regretfully, there’s always the chance that you may be less healthy in the future when you decide to purchase life insurance. In my 20+ years as an independent life and disability insurance broker, I have personally assisted thousands of clients with their life and disability insurance needs. All companies are members of Western & Southern Financial Group and are located in Cincinnati, OH with the exception of National Integrity, which is located in Greenwich, NY, and Gerber Life, which is located in White Plains, NY. For us single people though, it’s not as clear cut. It's easy to think of life insurance as something for parents and married couples, but do single people need life insurance as well? Some do though, and determining which ones need it is the purpose of this article: Best Life Insurance Young Adults. However, single people buy life insurance for different reasons. So, do you need life insurance or not? For most of your adult life, ... You, therefore, may not need life insurance for this purpose, but to be sure, it’s a good idea to ask a qualified expert. For example, a term policy provides coverage for a set period of time and can cost less than whole life insurance for single people. Our site uses cookies to improve your visitor experience. Why Single People May Need Life Insurance, Too By Jessica Sillers — Oct 10, 2018. In some cases, you might choose coverage through a term policy, although partnerships that expect to operate well into the future might benefit when the owners have permanent coverage in place. And, let’s not forget about the cost of your funeral. In addition to mourning the loss of their loved one, those families would be left in an unfortunate financial situation. They have loves ones to. Life insurance and annuity products may be issued by The Western and Southern Life Insurance Company, Western-Southern Life Assurance Company, Columbus Life Insurance Company, Integrity Life Insurance Company, The Lafayette Life Insurance Company, National Integrity Life Insurance Company or Gerber Life Insurance Company. 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