When people think of life insurance, they generally consider it a wise option for families. However, singles, too, have much to gain from taking out a life insurance policy. Buying a long term life insurance policy from State Insurance Solutions while you are young and healthy can save you hundreds, if not thousands, of dollars over time. You’ll also appreciate having that policy once you’re married and start a family of your own.
Here are a few ways life insurance can be of benefit to singles:
Covers Debts upon Your Demise
Bills don’t just magically disappear once you pass on. Life insurance benefits can help cover your mortgage, vehicle loan, student loans, hospital bills and any other debts you may have accrued before your demise. If you have a joint debt or mortgage with a sibling or significant other, naming him or her as your beneficiary will ensure he or she has funds to pay for your portion of the debt or mortgage after you’re gone.
Pays for Child Care
If you’re a single parent, life insurance benefits from State Insurance Solutions, Arlington TX, can help pay for the care of your child(ren) upon your demise. These benefits can used for daily expenses or saved to pay for higher education after your kids have grown.
Support for Loved Ones
If you’re supporting an aging parent or disabled sibling, life insurance benefits can continue to provide for them after you’re gone. You never know when your time will come. A life insurance policy can give you greater peace of mind that loved ones will be taken care of if you unexpectedly pass on.
There’s more to life insurance than you may have thought. To learn more about life insurance options, benefits and costs, contact us at State Insurance Solutions in Arlington, TX.