Whether you are single parent with children or single person with no children, life insurance is an important part of protecting the future. If you are a single parent, term life insurance coverage will ensure that your children always have financial access to shelter, food and education, allowing them a bright future, even if you aren’t there to share it with them. If you are a single person with no children, term life coverage is still important because it will cover your final expenses and any debt you may have, taking the burden off of your loved ones when you pass away.
Without this coverage, your mortgage debt and other debts could be left to your parents, in addition to the cost of your funeral and burial. By planning ahead with this coverage, you can ensure that all of your expenses will be paid. You can even leave some money to beloved family members or friends, or an organization or charity you’d like to support.
Depending on the kind of life insurance you purchase, you could even use your policy to build money for your retirement, allow your funds to grow and be worth more than they would if they just sat in the bank. Whatever money you don’t use would be left to your beneficiaries – whether it be nieces and nephews or a charity – you would be able to leave the beneficiary(s) with more than you could otherwise.
Would your loved one be cared for if you passed away? If so, would you leave enough money to cover medical needs, shelter, food and other necessities? By having life insurance coverage, you can guarantee that your loved one will be able to have all of life’s necessities.
Although you are a single person now, you may not always be single. Life insurance is cheaper the younger you are when you buy the policy, making it more reasonable and affordable to purchase life insurance in your 20s than in your 30s. Buying coverage now will make it easier to afford, especially if you intend to get married or have children in the years to come. Getting coverage while you are young and healthy is also a good choice because you will be able to get coverage now, whereas if you develop a condition or illness later in life, coverage could be very difficult to get and also very expensive.
To learn more about life insurance coverage options available through Mortgage Protection Center, fill out the form or call today to speak with a qualified representative and get your free quote!
By submitting a quote request you acknowledge and agree that this is neither an offer to insure nor a guarantee of insurance. All benefits are not available in all states. All coverage information provided by Independent Life & Disability agents representing multiple A.M. Best “A” rated carriers offering specialized Mortgage Protection Products. Not affiliated with, authorized by or endorsed by any lending institution. No insurance coverage shall be construed as bound, in force, applied for or assumed as a result of submission of information.
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