Does Life Insurance Make Sense if I am Single?

We live unpredictable life. Today, you might be okay, but tomorrow you may suddenly be involved in an accident or fall ill. Given the erratic nature of life, you need to protect those you love with life insurance. But if I am single, do I need life insurance? It depends. Taake Insurance Agency of Columbia, IL looks at instances where a single person may need life insurance.

If you have a debt

Do you have a mortgage, car, or student loan? You should invest in life insurance to care for your debts when you die. Otherwise, you may leave the burden to your cosigners and loved ones.

If you have dependents

You may be single, but that doesn’t mean you don’t have dependents. If you support your siblings or parents financially, investing in life insurance would be a good idea to ensure they aren’t financially crippled when you die.

You plan to start a family.

Today you may be single, but you have plans to get married and have children. It’s a good idea to invest in life insurance now; when you are young and healthy — you may enjoy affordable premiums.

If you have a life insurance policy today, all you need is to update your policy when you get married or have children.

You own a business

When you have business partners, it can be challenging for them to cope in your absence. Life insurance buys them time as they think about the next move. Besides, life insurance proceeds can help settle debts if you have business loans.

Do you still need more information about life insurance in Columbia, IL? Please talk to Taake Insurance Agency. We may not have all the answers — just the life insurance ones.