This may contain information obtained from third-parties, including ratings from credit ratings agencies such as Standard & Poor’s. Life Insurance Expert. Please contact your tax or legal advisor regarding your situation. Gerber Life is not rated by the other rating agencies. If you are single and considering purchasing a life insurance policy, you can get quotes from top insurance providers right here on LifeInsure.com. The most effective way to cover for these inevitable expenses is by purchasing life insurance that will cover your final expenses. Consult an attorney or tax advisor regarding your specific legal or tax situation. For example, a term policy provides coverage for a set period of time and can cost less than whole life insurance for single people. There’s a common belief that only people with loads of responsibilities and those that have dependent family members need life insurance. Many people think of life insurance as a way to replace lost income when one spouse dies and the other is left to care for the children. We have every type of life insurance product available so we can find the appropriate solution to meet your individual needs and fit within your budget. 25 Year Term Life Insurance: Is It Right For You? Recession Lessons From Gen Y]As for whether or not single people need life insurance, the answer is sometimes. After all, most people purchase a life insurance policy because they want to leave something behind for their partner and/or their children. This site is intended to provide a general overview of our products and services. Monday - Thursday | 8 a.m. - 10 p.m. Please review the details of each product with your financial representative to determine which options may best fit your needs. In my 20+ years as an independent life and disability insurance broker, I have personally assisted thousands of clients with their life and disability insurance needs. For us single people though, it’s not as clear cut. Discover how we can help you with personalized guidance and solutions tailored to your specific needs. They do not address the suitability of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice. Some do though, and determining which ones need it is the purpose of this article: Best Life Insurance Young Adults. Lots of people consider life insurance for the first time when they have kids or start a family because this kind of insurance replaces lost income if they were to pass away. People often assume a lack of dependants means that single people don’t need life insurance. This financial responsibility could exacerbate an already emotionally difficult time. If a single person is still in debt and expects to be in debt for an extended period of time, they can do their loved ones a favor by purchasing a life insurance policy. Insurance is a subject that even confounds people who know a lot about finance. Ready to start your search for solutions? An attorney specializing in estate planning can help you draw up the proper legal documents in such cases. One approach you might consider is to take out a term life insurance policy for the duration of the repayment period. For information about affordable life insurance or for a free and confidential quote, contact the insurance professionals at LifeInsure at. You might be surprised how many people can be affected by the loss of your income. For more information, call an insurance professional at LifeInsure.com (866) 868-0099 during normal business hours or contact us through our website. For any single parent, the answer is probably yes, and anyone supporting other family members might want to consider it, too. Products and services referenced in this website are provided through multiple companies. Friday | 8 a.m. - 6 p.m. Simply use our life insurance quote tool and instantly compare the best rates and policies for you. 1. . A good life insurance calculator can help you pinpoint a number. If people rely on your income, life insurance should be on the top of your to do list. © 2017-20 Western & Southern Financial Group, Inc. WS20200323181235 Even if a single person has no dependents, they are not entirely alone in this world. Secure a Death Benefit for Yourself. Your debts have cosigners. First, think about how much coverage you'll need. ET However, I have come across so many single people that are just the opposite, that it makes you think: sure, a whole lot of single people really do need life insurance. 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