Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

If You’re Single, Do You Need Life Insurance?

By Denise Mancini Subscribe to RSS | December 3rd 2011 | Views:
loading
 
  



Singles in their twenties and early thirties represent the new generation of thinkers. Armed with Internet speed, social media smarts, and a desire to invest their money where it counts, a life insurance product is one of the smartest decisions singles will make.

Times are changing and the status of being “single” is more common now than it ever was. Some prefer the opportunity to pursue a successful career. Social media networks allow us the benefit of maintaining relationships with friends, making new acquaintances and interacting virtually while never having to give up the comfort zone of being single. In fact, statistics show that there are more people single now than married.

More Singles Choosing Life Insurance

While more and more people choose to remain single, it does not mean they have no dependents. Dependents could be kids from a previous marriage, a previous spouse or a current live-in partner. Singles that die leaving a mortgage behind, a student or business loan would leave the guarantor of the loan a financial debt which could put them through some hard times. It is therefore extremely important for singles to consider life insurance.

According to the USAA Life Insurance, a 10 percent increase in the number of single people purchasing life insurance was observed. The biggest growth—24 percent—was seen among those who are in their twenties.

While baby boomers appear to be letting their policies lapse in preference to insurance products that offer the kind of insurance they now need (such as long term care), people in their twenties and early thirties are actually turning to life insurance products. The economic downturn has instilled insecurity and one way to make sure your family has a financially secure future is to buy life insurance.

Singles can put their money to good use

Life insurance companies reserve their best rates for the young and healthy. For just a few dollars a month, you can leave a small fortune behind for your beneficiary.

You can name either or both parents the beneficiary of your life insurance policy. If you died unexpectedly, the death benefits could be your way of showing gratitude for the care and love you received from them and compensate them for the money they invested in your education. This may mean the world to them, especially if they are old and still struggling with finances.

Your beneficiaries could use the death benefits to pay off your loans.

For those who are more philanthropic, death benefits could go to your favorite charity, towards life-saving research or for a cause you deem worthy. It could be your contribution to make this world a better place for the future generation.

Singles Shouldn’t Wait to Buy Life Insurance

The older you get the more likely you are to suffer from age-related health problems. Both age and poor health will increase your life insurance rates so the best time to buy life insurance is now. You can lock those rates in with a level term life policy for a maximum period of 30 years. Look for additional benefits like a renewability option. This option allows you to renew your policy for another term at the end of your term period without having to prove insurability. This means that you will not have to undergo a medical exam. If your health has deteriorated over the years you can still get the best life insurance rates based on your age alone. Don’t wait to buy life insurance and don’t go for the cheapest life insurance. Options like renewability, a disability waiver, or riders available for a token amount can add valuable benefits to your policy!

The uncertainty of the times should prompt people in all age groups to purchase life insurance. Life is uncertain and the untimely death of an earning member of the family only serves to compound the grief and add financial stress to an already distressed situation. Term life insurance rates are at all all-time low right now. It just makes sense to take advantage of the situation and buy an inexpensive term life insurance policy to cover your needs. This is the best time to buy life insurance, especially term life insurance since the rates are low and you’ll easily find something affordable to suit your needs.

Denise Mancini - About Author:
About AccuQuote:



AccuQuote is a leader in providing term life quotes to people across the United States. In 1986 it began operating with a single goal: to make the process of buying term life insurance as easy as possible for its customers. Their experienced professionals consistently deliver the most affordable term life insurance rates by comparing thousands of life insurance policies from dozens of top-rated carriers.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/insurance-articles/if-you-re-single-do-you-need-life-insurance.htm

Related Insurance Articles Subscribe to RSS

Safeguard your organization by commercial liability insurance
Published by Andrew Edwards on May 17th 2012 | Insurance
There are few insurance plans protecting organizations from facing the issues which can harm on fina...
 
Why to get mobile phone and iPad insurance
Published by Ashish Pandey on February 7th 2012 | Finance
Getting mobile phone insurance or iPad insurance can be a great tool to avoid unnecessary expense an...
 
How commercial insurance smooth the progress of home based business
Published by Andrew Edwards on December 6th 2011 | Insurance
Test your business skills first before starting a home based business...
 
Simplest method of finding commercial insurance quotes
Published by Andrew Edwards on May 16th 2012 | Insurance
Looking for commercial insurance but not getting satisfactory response from companies...
 
Life Insurance Plan, your Partner for life
Published by Max York on January 9th 2012 | Insurance
Your decision of buying an insurance plan can give you a sense of financial security and a reason to...
 
Compare Cheap and Affordable nevada long term care insurance Quotes Online
Published by Kym Dicken on November 30th 2011 | Insurance
Long-term care insurance has become very popular in the United States and many other countries with ...
 
Small and easy tips to get cheap classic car insurance
Published by Anneshirley on April 12th 2012 | Insurance
Classic car insurance sometimes charges more than your budget. So when you start looking for the ins...
 
Clarion Event liability insurance covers host of resources
Published by Michel Jordan on February 1st 2012 | Insurance
The article describes the public liability insurance for musicians offered by Clarion Associates to ...
 
Get relief from day to day mishaps and provide insurance coverage for your van today
Published by Gregorypeck on February 25th 2012 | Insurance
For most manufacturing or service providing companies, it is the first priority to have a good runni...
 
Know more about cheap car insurance
Published by Anneshirley on April 12th 2012 | Insurance
It is not a tough thing to find car insurance, but yes it is very hard to find the classic car insur...
 
Best deals on auto insurance in Oregon
Published by Ronnie Brain on January 16th 2012 | Insurance
All drivers are required to carry their auto insurance when driving in Oregon. It is illegal to driv...
 
How do they figure out my cheap car insurance rates
Published by Harrisonford on March 29th 2012 | Insurance
An individual must be thinking before purchasing car insurance that how insurance companies calculat...
 
In Nevada information about auto insurance is crucial
Published by Alabamaauto Insurances on January 17th 2012 | Finance
It’s not very hard to get cheap rates for auto insurance in the state of Nevada as there are a lot...
 
Getting the right amount of insurance excess when applying for auto insurance
Published by Jerry on March 14th 2012 | Insurance
When you are looking to get auto insurance, you may become confused about all the variables that you...
 
Professional indemnity insurance- secure your profession
Published by TimHarris on January 4th 2012 | Insurance
Being a professional is not a kid’s play. One has to serve untiringly to please the customers. But...
 
Operational liability affairs unravel by commercial general liability insurance
Published by Andrew Edwards on March 21st 2012 | Insurance
Here we are going to make the decision on commercial level plans which are making it possible...
 
Insurance broker helps acquiring commercial insurance quotes
Published by Andrew Edwards on February 4th 2012 | Insurance
If you don’t have sufficient time to search for commercial insurance online then insurance broker...
 
Include product liability insurance in investment plans
Published by Andrew Edwards on December 13th 2011 | Insurance
Product liability arrives at head when consumer or workers take off injury with the product...
 
Cheaper van insurance – a few ways to find the best possible deal
Published by Robmarshall on April 16th 2012 | Insurance
If you are seeking cheaper van insurance, then you are not the only person who is searching. There a...
 
Know more about a balance car insurance program
Published by Stevediaz on February 25th 2012 | Insurance
You bought a car and you know you have made one of the biggest investment. Now you cannot afford any...