Do You Need Life Insurance If You Are Single?

​If you are single, you probably think that you do not need life insurance. But, think again. Life insurance is not only beneficial for families, but for everyone. Here are some things about life insurance and why it is also ideal for single people like you:

​You Are A Family Member
If other members of the family such as siblings and parents depend on you for financial support, buying life insurance will enable you to help maintain the standard living of your family.

There Are Health Issues In Your Family
Are your parents suffering from health disease that is heritable such as diabetes or heart illness? It is best to purchase life insurance now if you have a high risk of being diagnosed with a certain condition. The healthier you are, the more affordable the insurance is. It could get more costly if you have been diagnosed with an illness. 

You Are Young
If you are single and young, it is better to buy life insurance now. As you age, the rates of life insurance also increase. So, make sure you get yourself some insurance protection now while it is still cheaper.

You Have Outstanding Debt
Outstanding debts tend to be passed on. Banks usually do not forgive personal loans that have co-signers. Some financial institutions demand the loan to be paid in full even after death. With life insurance, the survivors will not deal with this burden. 

You Are A Co-Owner Of A Business
Owning a business means you need to keep things going. If you have business partners and one passes away, you need contractual provisions. Every partner needs to put funds in life insurance to keep the business running.

You May Get Married One Day
Someday in the future, you will decide to get married and have children. If you purchase life insurance now while you are single, you ensure protection to your future family in case of an unexpected event.

You Can Have An Emergency Fund
If ever you need money for whatever purpose, it is possible to borrow from your life insurance policy through its cash value. 

Conclusion
If you want to know more about life insurance and if it is the ideal option when you are single, talk to an insurance agent. 

At Oncken Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (281) 256-8310 or Click Here to request a free quote.