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

Coverage commercial general liability insurance offers to insured company
Published by Andrew Edwards on May 22nd 2012 | Insurance
CGL is quite popular plan while business owners want to cover-up the liability issues and transfer...
 
Getting the best Georgia auto insurance
Published by Auto Insurances on January 17th 2012 | Finance
As the state of Georgia is very notorious for having a big number of car accidents and also incident...
 
Getting a cheap van insurance
Published by Robmarshall on March 1st 2012 | Insurance
Previously vans were only used for commercial purpose i.e. for hauling people and goods from one pla...
 
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...
 
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...
 
Classic car insurance requirements
Published by Johnjakson on January 30th 2012 | Insurance
If you have a classic car, most likely it is one of the most valuable possessions. Defending and mai...
 
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...
 
Best and Low cost medical insurance
Published by Lessardcasey on February 11th 2012 | Insurance
With swirling controversy over the availability of health insurance for all citizens of the United S...
 
Terms associated with commercial liability insurance
Published by Andrew Edwards on January 14th 2012 | Insurance
Anyone running a business knows importance of commercial liability insurance...
 
Cheap Home insurance quotation, Flood home insurance at Barn insurance
Published by Barn Insurance on January 12th 2012 | Insurance
Barn insurance covers against damages caused by natural disasters or people. It provides you all the...
 
Tips to find the best car insurance comparison sites
Published by Geenadavis on February 25th 2012 | Insurance
Shopping around for the cheap auto insurance online can be a challenging task if you do not know how...
 
What do self-employed people need to know about health insurance?
Published by Andrew Low on February 10th 2012 | Insurance
If you live in the UK and take out health insurance, it is unlikely that you will be able to offset ...
 
Things to remember about cheap car insurance
Published by Robmichae on March 2nd 2012 | Insurance
Car insurance might not be important for you but it is very important thing for your car. As you go ...
 
My cheap car insurance can save you more money
Published by Harrisonford on March 29th 2012 | Insurance
These days, people are looking for ways to save some amount wherever possible....
 
Just where to get the best car insurance packages in Ohio
Published by Usautoinsurances on January 17th 2012 | Insurance
It is illegal to drive your car on the Ohio highways without proper auto insurance. Some people shun...
 
Complimentary commercial insurance quotes for traders
Published by Andrew Edwards on March 15th 2012 | Insurance
There are basic needs of every trade person which are fulfilled by protective plans...
 
Look for car insurance in South Carolina
Published by Ronnie Brain on January 17th 2012 | Insurance
It is a legal requirement that you carry your auto insurance South Carolina all the time. Failure to...
 
Tips that can help in getting cheap van insurance
Published by Gregorypeck on February 28th 2012 | Insurance
Previously the use of van was very limited but now people of different professions use it. Buying a ...
 
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...
 
How to find cheaper van insurance quotes
Published by Robmarshall on April 17th 2012 | Insurance
No matter for what purpose you own a van whether for a commercial or personal use, an individual has...