Life Insurance - The Single Person's Need


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Ignoring purchasing life insurance is one of the biggest mistakes that single people can make. Here is why. In your early years you really have very little need for life insurance, or possibly no need at all. If you die while you are young all that is needed is sufficient cash to bury you. It doesn't take a lot of money to do that. Most parents, in the United States, can afford to bury a child upon death. If your parents cannot afford to bury you all you need is a policy for about $10,000. That should take care of it.

Here is an example why a single person would buy a life policy. This is woman 23 years old and a college graduate. . . she works very hard and would like to buy a house. Her older brothers bought theirs at an early age and she feels she should also. You may feel this is a farfetched case but it is not. I know of cases quite similar to this. It is very likely that she will have a mortgage on that house. She wants it paid off if she should die. This certainly is a good reason to buy a life insurance policy.

Here is another example where it is wise to buy life insurance while you are quite young. A young man who is pretty smart graduated from medical school. It took him many years of hard work to achieve this. Because of his expertise he carefully looks at the state of his parents and grand parents health. Even though medical science has advanced considerably he knows that he could develop some of the same ailments his parents and grand parents now experience. . .

As he intends to marry and have a family some time in the future he feels that it would be the intelligent thing to buy some life insurance now while he can get it at a very low premium and while he still can qualify for it. He will have it when he needs it. If he should die before he marries he feels it would be a great idea to let the proceeds be payable to his parents as their assistance was invaluable while he was in school.

Another good example is the young person who intends to go into business some day. That man or woman certainly intends to make their business a success. There will be a need for life insurance whether we are talking about sole proprietorship, a partnership or a corporation. There may be a need for life insurance specifically to fund a buy sell agreement or may be for key employee insurance. If this person buys the life insurance now there wont be a problem when the policy is really needed. The rate will be much lower while this person is still quite young.

These are just some of the reasons why a single person should consider life insurance. There is little or no need now but you should consider where you plan to be 5, 10 or 20 years down the line. Will you need a policy then? More importantly, will you be able to qualify for it?

For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and most admired life insurance companies in the United States as well as Canada. His advice is invaluable.

Donald's website is:


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