Young, single people often think that they don’t need life insurance, but in reality, there are many reasons for people in this position to have policies. Here’s why being single and life insurance aren’t necessarily contradictory ideas:
- People depend on you for financial support. Elderly parents and siblings may be relying on you either to help pay bills or to cover care expenses. Your life insurance will ensure that they don’t end up in financial trouble if you’re gone.
- You have co-signed loans. Whoever co-signed your loans will have to pay them back if you die. Life insurance makes sure that those debts won’t become the other person’s problem.
- You’re worried about funeral costs. A funeral can cost $6,500 or more, and most people would be hard-hit to have to come up with that money suddenly.
- You want to leave a legacy. By naming a charity or other cause as your beneficiary, you can create a benefit that will work even after you’re gone.
To get a quote for life insurance in California, please contact Medwin Insurance AgencyÂ in Los Angeles.