You have always known life insurance to benefit persons with children and spouses when the unexpected occurs. And you are right. Life insurance from Western Republic Insurance Services protects your dependents in the unfortunate event you die. But does that mean life insurance isn’t for the single? While life insurance isn’t always a necessity for single persons, there are situations you should consider life insurance.
You have debts
Depending on the degrees you have and the college you went to, your student loan is now approaching a six figure. While federal loans can be discharged when you die, private student loans will be passed to your cosigners. And since you wouldn’t want to burden those you leave behind with debts, you need to invest in life insurance.
The same case goes if you have a mortgage or car loan. Invest in life insurance so that the death benefit proceeds can be used to settle the debts you leave behind.
You may still have beneficiaries
Being single doesn’t mean you don’t have people that depend on your income. Yes, you may not have children or a spouse, but you may have siblings or aging parents that rely on your income. Invest in a life insurance policy to take care of your beneficiaries when you are long gone.
You have a business
Life insurance isn’t for individuals only — businesses can benefit too. Life insurance in a business helps settle outstanding business loans and helps your business partners buy time as they figure out what to do after your demise.
Life insurance in Huntington Beach, CA
Single or not, life insurance is the best investment when planning your finances. If you would like to purchase a life insurance plan in Huntington Beach, CA, look no further than Western Republic Insurance Services.