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

What are the advantages of buying insurance online at my cheap car insurance
Published by Harrisonford on April 12th 2012 | Insurance
Cars have become the basic necessity of most of the people. Everyone wants to have his/her own trans...
 
Buying term insurance online - a way to save premiums
Published by Chris Luke on April 26th 2012 | Insurance
Term insurance is a commonly purchased policy in current times as it is the most suitable plan that ...
 
New York auto insurance attract high rates
Published by Alabamaauto Insurances on January 17th 2012 | Finance
Residents of New York are some of the people who have to pay high rates in auto insurance policies. ...
 
Tips to find cheap classic car insurance
Published by Anneshirley on March 20th 2012 | Insurance
Classic car insurance coverage is different from the regular type of insurance coverage. The definit...
 
Georgia health insurance plan is excellent option for your health cover
Published by on June 23rd 2012 | Insurance
Only getting health insurance policy is not important, getting the right one is more important, beca...
 
Comparing Auto insurance Companies
Published by Matthew Bugin on January 16th 2012 | Insurance
The best automobile insurance companies are the ones who do the best job of marketing to their custo...
 
Assess your business insurance plan for better returns
Published by Andrew Edwards on February 21st 2012 | Insurance
While running business enterprise we have to look in plans which are suitable and make everything or...
 
Search out commercial insurance quotes for free
Published by Andrew Edwards on December 28th 2011 | Insurance
Quotes are the detailed information packs provided by insurance companies...
 
Business insurance rates: determining factor while establishment as trading agency
Published by Andrew Edwards on May 15th 2012 | Insurance
There is vast variety of concepts applied while looking to establish trade business...
 
Benefits of life income insurance
Published by Dkfinancialplanning on February 10th 2012 | Insurance
The only purpose of a life insurance policy buyer is the security of the people who are left behind ...
 
Alfa Romeo 159 car insurance is the best way for the safety
Published by Kaisar on January 2nd 2012 | Insurance
So you should hurry find the best Alfa Romeo Brera car insurance company and purchase the insurance ...
 
Help yourself by knowing more about auto insurance!
Published by Jerry on March 14th 2012 | Insurance
There are many people who find auto insurance quite confusing and tricky. It is because of this reas...
 
Christian Debt Help – Live Debt free life, always
Published by Julia Roger on January 28th 2012 | Finance
Christian Credit Counselors are always there for your help when you are facing financial crisis. The...
 
Using cheapest car insurance quotes to find the cheap car insurance
Published by Robmichae on March 16th 2012 | Insurance
Finding the cheap car insurance includes obtaining cheap insurance quotes to assist an individual to...
 
Best and Inexpensive health insurance
Published by Lessardcasey on February 11th 2012 | Insurance
The place to start to search for inexpensive health insurance if you have a low income or if you hav...
 
How to win the right auto insurance packages in New Hampshire
Published by Alabamaauto Insurances on January 17th 2012 | Finance
Auto insurance is definitely a necessity to anyone who owns a car in the modern day. If at all you ...
 
Financial barriers in front although product liability insurance is outstanding
Published by Andrew Edwards on March 21st 2012 | Insurance
It is quite a possible obsession to happen with the manufacturers to face a situation they never exp...
 
Don’t dare drive in Massachusetts without auto insurance
Published by Autoinsurances on January 14th 2012 | Insurance
It’s important to acquire auto insurance Massachusetts if you are intending to drive your automobi...
 
Text Loans Bad Credit- reasonable schemes in order to avail a healthy life
Published by Calvien Peter on December 2nd 2011 | Finance
Text Loans Bad Credit is resources designed for folks who want to live a debt free life on getting t...
 
Understanding Backpacker insurance Policy
Published by Herry Smith on February 13th 2012 | Insurance
Backpacker travel insurance provides you the security level so that you can enjoy your holidays with...