15 Apr 6 Reasons Singles Need Life Insurance
If no one depends on you financially, your path to financial security may be smoother than most. However, it also means that if the unforeseen were to happen, you may not have someone to rely on for support—financial or otherwise. That’s why there are certain considerations to take into account.
We spend a lot of time talking about how couples, families and businesses can protect their financial futures with life insurance. But what about if you are single—do you need life insurance, too?
There are those people who have no children, no one depending on their income, no ongoing financial obligations and sufficient cash to cover their final expenses. But how many of those people do you really know? And, more importantly, are you one of them?
I think it’s important, then, to illustrate how a life insurance purchase can be a smart financial move for someone who is single with no children. Asking yourself these three questions can help you get at the heart of the matter:
- Do you provide financial support for aging parents or siblings?
- Do you have substantial debt you wouldn’t want to pass on to surviving family members if you were to die prematurely?
- Did family members pay for your education?
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