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

Learn to find cheaper van insurance
Published by Robmarshall on March 28th 2012 | Insurance
Purchasing cheaper van insurance is not a very difficult task if an individual knows how to go about...
 
My cheap car insurance- your ticket to a perfect insurance policy
Published by Harrisonford on April 12th 2012 | Insurance
Companies offering cheap car insurance policies have become very important. Unemployed people or peo...
 
Efficient ways to get cheap car insurance
Published by Robmichae on March 2nd 2012 | Insurance
It was never this easy to get the car insurance quotes. With your fast internet browsing speed you c...
 
How to find affordable auto insurance for your child
Published by Jerry on March 14th 2012 | Insurance
When you need to get a car for your child, chances are that you may want to make sure that it is as ...
 
A Different type of life insurance
Published by Jack Travis on December 9th 2011 | Insurance
Disadvantage of this type of life insurance is that it will be automatically terminated once the per...
 
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...
 
Make your life simple with solar panels
Published by Strobwake on April 13th 2012 | Insurance
When you think about installing solar panels in your house the first image that comes to your mind i...
 
Vauxhall Corsa Insurance gives you best insurance
Published by Ahmadgill on January 26th 2012 | Insurance
Now a day our company is committed in giving you cheap insurance and cutting rates on Vauxhall Corsa...
 
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...
 
 
Significance about the automobile insurance
Published by Shyam Singh on March 5th 2012 | Insurance
Renegotiate the automobile insurance handful of folks consider. But maybe it's completed each year. ...
 
The many ways to get Dubai medical insurance
Published by Andy Robert on December 7th 2011 | Insurance
With the growth and expansion in Dubai, many positives steps are being taken by local authorities an...
 
Advice to save on Michigan auto insurance
Published by Abil Jack on May 11th 2012 | Insurance
Michigan is the car capital of the world. There are many auto companies in the Detroit area. No wond...
 
How to go about getting cheap van insurance
Published by Gregorypeck on March 20th 2012 | Insurance
There is no doubt that if you have a van, you need van insurance coverage. As you probably know, van...
 
The best insurance packages live in Maryland
Published by Insuranceindian Aauto on March 5th 2012 | Finance
Auto insurance is something that any motorist in Maryland needs to have. Many people would try to ov...
 
How to get cheap classic car insurance
Published by Anneshirley on February 24th 2012 | Insurance
Classic cars are very valuable things for every owner. It has become a passion for people to own a c...
 
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...
 
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...
 
How can your van help you to get the cheap van insurance?
Published by Carleson on December 10th 2011 | Insurance
Your van can help you find the cheap van insurance that you have been looking for. Yes you are readi...
 
Finding online life insurance quotes is safe and secure
Published by Haris Portfield on February 20th 2012 | Insurance
With their inclusive approach to insurance, websites make it easy for the insurance consumers to fin...