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Do Single People Need Life Insurance?

single people often overlook life insurance, but there are some compelling reasons to consider it

When you think about life insurance, you probably think about your spouse who relies on your income to pay the bills.

Or, maybe your first thought is of your children. They still need your support, and it’s your job to provide shelter and safety for them.

But what if you’re not married?

What if you don’t have children or dependents who are counting on your financial help to survive?

Do single people need life insurance, too?

Think About The People Who Depend On You

Maybe there’s nobody depending on you financially right now. Even if that’s the case, that doesn’t mean you don’t need life insurance.

Think about the people who depend on you, not just financially, but also emotionally and spiritually. Maybe it’s a boyfriend or girlfriend with whom you’re starting to think about the future, a sibling that is always just a phone call away, or a parent who’s proud to watch you grow up.

Those are the people who would probably be responsible for your final expenses should the unimaginable happen.

Life insurance can’t replace the things you provide for these people. It can’t be the shoulder to cry on when your best friend goes through a breakup, and it can’t laugh with your siblings until their sides hurt.

What it can do is provide peace of mind for you now, knowing that if anything happens, the people you love will have one less thing to worry about.

The last thing your loved ones need while they’re dealing with grief is a mountain of debt, or a hard decision between their budget and the final farewell you deserve.

If you have debt like a mortgage, that lien doesn’t disappear after decease, either. What could have been left as an inheritance will likely end up being owned by a bank if you haven’t made arrangements to cover those expenses.

Obviously, life insurance is something you purchase hoping you’ll never have to use it.

While you’re young and healthy, life insurance is inexpensive. Isn’t it worth a small expense to make sure there’s a plan, just in case?

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