Do I need life insurance if I am single?
Do I need life insurance if I am single? The main purpose of having life insurance is to provide financial support for loved ones in the event of the insured’s death. Especially when you have children or a spouse. However, single people and their children can also benefit from taking out life insurance and we explain why.
If a young and unmarried person were to die, it would be her parents or close relatives who would be responsible for paying for the funeral. According to statistics, the average price of funeral services in Florida exceeds $ 6,500. However, if the person who dies has life insurance, this policy always includes coverage for final expenses.
The future is unpredictable. A young, healthy person may not see the use of life insurance. But if that same person suffers a heart attack or cancer is discovered, having a life policy previously would guarantee financial protection on the one hand, and on the other, it would guarantee that his insurance premium is not increased during the term of the contract. . Survivors of a heart attack who after suffering this attack try to buy life insurance must pay more for their policy due to the health risk they have.
If a single person is paying a mortgage at the time of death and has life insurance, the insurer would pay the rest of the mortgage and the property would remain in the hands of their parents, or the person designated by the insured, debt-free.
Another case that shows the importance of having life insurance is if someone single starts a business in partnership with another person. Imagine that one of the partners dies in an accident. The surviving partner would be trapped with the debts of the deceased. It is best for both of you to buy life insurance. Do I need life insurance if I am single?
As you can see, even if you are young, single, and healthy, do not discount the idea of having life insurance. Call Univista Insurance and protect yourself from life’s unforeseen events.