Most single guys don’t think they need life insurance.
But, what does your future hold?
Here’s some reasons why you should get life insurance.
Reasons a Single Person Should Buy Life Insurance
Okay, you’re single and you figure you don’t have a care to worry about. Maybe you’re young and just starting to make your way in the world. You could have just finished college and embarked on a new career.
Or, maybe you’re pushing middle age and simply prefer to stay single.
Whatever your circumstances you might be wondering why in the world would you need to buy life insurance since you might not have any responsibilities to worry about.
No responsibilities? Oh! Really?
It might not seem that way now, but I think you’re not looking at the big picture here. Let me ask you a few questions first.
• Who paid for your college tuition?
• Did you take out any student loans?
• Do you have any credit cards?
• How did you finance your car?
• Do you have any other personal loans?
• Did you recently buy a house or condo?
• Did you know that the average cost of a funeral in the U.S. is $10,000?
• Are you paying any child support?
• Are you a sole proprietor/ self-employed professional?
• Planning on getting married?
Guess what? You’ve got responsibilities all right. Sit down and add up what you owe and what your funeral is going to cost.
Now ask yourself this one basic question – Who’s going to have to pay for all this if you died right now? Do you think that all the money you owe is just going to go away all on its own?
Somebody is going to have to pay for your debts and expenses. So who is going to be? Your parents, siblings, grandparents? You need to care about these things and take some responsibility for it. Do you really want to saddle any of these people with the financial mess you leave behind?
You also might be thinking that life insurance is too expensive. Let me disprove that right away.
Term Life Insurance is Affordable for Single Men
That’s right! If you buy a term life insurance policy and you happen to be still relatively young and in good health, a policy to cover your debts isn’t going to cost you much more than what you spend to see a movie and have some popcorn and a soda once a month.
Don’t believe me? Here are some quotes I ran for a 30 year term life insurance policy for someone in their early twenties. You will see that a policy is very affordable. These quotes are for Preferred Plus Rates, and for a non-smoker in good health.
30 Term Life Insurance Quotes
|Term life Insurance Quotes for Males Aged 20 – 25|
|20 Year Old Male||$13.00||$18.00||$30.00||$55.00|
|21 Year Old Male||$13.00||$18.00||$30.00||$55.00|
|22 Year Old Male||$13.00||$18.00||$30.00||$55.00|
|23 Year Old Male||$13.00||$18.00||$30.00||$55.00|
|24 Year Old Male||$13.00||$18.00||$30.00||$55.00|
|25 Year Old Male||$13.00||$18.00||$30.00||$55.00|
(Disclaimer – These quotes are good as of April 15, 2014)
Here’s a simple fact you should consider about why you should buy a policy if you’re single.
Life insurance is most affordable when you are young. It becomes more expensive as you age. You might be single now, but there’s a good chance you’re going to meet that special someone and get married, have some kids, buy a house. And, you’re going to need life insurance to make sure your family is able to maintain their standard of living.
Life insurance is simply a fact of life – just like death and taxes!
Life insurance is also sexy! Okay! Maybe I’m exaggerating a bit, but if you do plan to get married, then you can bet your spouse is going to insist you buy a policy especially if you are planning on having a family. A potential spouse is going to be impressed with the fact that you were savvy and responsible enough to have already bought a policy. I’m not saying that having a life insurance policy is going to get you girls, but it could give you a few extra points with that special someone.
Who Should You Name as Beneficiary?
Good question! If you’re single and do buy a life insurance policy, you have to name a beneficiary. You could choose either your parents or a sibling(s). Naming a beneficiary isn’t carved in stone as you can change the beneficiary as your circumstance s change.
All you have to do is contact the insurance company that sold you the policy and ask for a “Change of Beneficiary Form”. It’s that simple. So if you name your parents now, and get married later on, then all you have to do is request the form to re-name your spouse as beneficiary.
Where Can I Find an Affordable Life Insurance Policy?
You always want to talk to an independent agent like myself. We can access and research dozens of companies so you are assured we will find the best policy at the most affordable rates. If you have health concerns, don’t let that dissuade you because we can give you valuable advice and help you to find a policy that suits you.
Whatever your needs or questions then please call me direct at 855 – 257 – 9555.
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