Why is Life Insurance Important for a Single or Young Person?
Some would ask why purchase life insurance if you have no one to leave it to? Not sure that would be true, most people have someone in their life who they love and value. So perhaps the bigger question is why purchase life insurance regardless of marital status or age?
With some certainty death would have a financial impact regardless. So why burden loved ones with not only the impact of losing someone they care about but also with the expenses. After all, the end of life expenses can be overwhelming and life insurance is a great way of leaving tax-free money to your loved ones, or favorite charity.
Did you also know, life insurance can protect your future as you get older? We all know purchasing life insurance when you are young is cheaper, however purchasing a policy early in life can eliminate putting you in financial crises later on in life.
There are ways to use a life insurance policy for future investments, tax savings along with term care. This can be an immeasurable security feature especially if you are single.
Have a life insurance through your employer is not the best way to protect yourself as it is probably not one you can take with you when you leave the company, so purchasing your own policy will provide you protection wherever you go.
Life insurance is worth your time after all, bad things can and will happen and a life insurance policy is one of those essential items that will be there when you and your loved one most need it.