Do you think life insurance is just for married couples and those with kids? That’s not quite the case! If you’re single and haven’t given life insurance a thought, take a look at these key reasons why obtaining life insurance would make a lot of sense.
Student Loan Debt – What kind of student loan debt do you have? Most often, people assume that your debt dies with you, which unfortunately isn’t completely true. Loans through the federal government are forgiven when you pass, however personal loans that have a cosigner generally are not. For example, if your parents co-signed your student loan through a bank, they would be responsible for paying off the loan if something were to happen to you.
Living with Your Significant Other – You probably share a lot of the financial responsibility. So what happens if one of you passes prematurely? Would the other partner be able to continue living on his or her salary alone or would they have to sell up/find a new place to live? An easy answer to those questions: adequate life insurance.
Future Preparation for Raising a Child – Having children comes with bills and expenses. Having life insurance now allows you to have coverage in place for when you do decide to have a child, and you protect your insurability for the future.
Locking Rates in as a Young and Healthy Person – Let’s face it, age and health are two MAJOR factors in how much you pay for life insurance. Why not lock them in a low price (if you have both working in your favor). If you have any questions about your age, health, and getting life insurance, give our benefits producer, Mike Fields, a call at 610-898-6532!
Taking Care of Elderly Family Members – Aging parents, a special-needs sibling: what would happen to them if you and your financial support disappeared?
Cost of a Funeral – While it’s not a “fun” topic to think about, death is inevitable, and someone will have to pay for your funeral. With the average funeral costing about $7000, you don’t want to leave your family and loved ones with that financial burden on top of grief.
Trust us, we know life insurance can seem like a daunting task, but it doesn’t have to be! Give us a call at if you have any questions or concerns about life insurance! We’d be more than happy to help.