Life Insurance for Singles

Life Insurance for Singles

by Leslie Freeland, March 11, 2015

You may think that life insurance coverage only applies to families or others who have dependents. Truth is, life insurance policies provide more benefits for today’s single person than ever before.

The Debt Problem

Have you considered what happens to your debts if you were to die prematurely? Maybe you own equity in your home that you would like to protect for the benefit of your parents or siblings. Life insurance provides the liquid capital (cash on hand) to make sure the mortgage is paid in the event something were to happen to you. Without a policy, where will the money come from in order to protect the equity you have built and keep the bank from foreclosing on your home? Without life insurance, where would the money come from to have your other debts paid so your other assets would be protected and passed on to the people you love.

Keep Your Business Going

You may be single and the owner of a business. Where would the money come from to ensure your business stays solvent so your business partners and family members have time to plan for the company’s future? If your family or partners decide to continue to run the business, where does the money come from to find someone to replace its most valuable asset, YOU? If your business is to be sold, there needs to be enough capital available to continue the company’s operations until a ready buyer can be found. A properly designed policy can provide the money your business needs, when it will need it most.

Continue Charitable Support

If you currently promote a charity or have an ongoing financial commitment that you would like continued in the event of your death, life insurance can provide the necessary funds to carry on your support. For example, your regular donations to the American Heart Association can continue after your death with a properly designed policy.

Benefits When You Need Them Most

Today’s life insurance policies can also provide you with a range of additional “living” benefits for the single individual. There are policies available that can pay out your benefits early to cover needs such as medical expenses, nursing home care and/or rehabilitation, should the need arise. If you are diagnosed with cancer, a properly structured policy could provide you with the help you may need to cover associated medical costs and pay for other services that may not be covered by your employer-sponsored medical plan.

Cash Value

Some life insurance policies have or build a cash value* which can be used long before you die. You can receive a return of your premium after a period of time and the death benefit isn’t used. There are a number of ways to access the cash value of a life insurance policy to pay for college tuition, unforeseen expenses, or to supplement your retirement income. The younger and healthier you are when you originally purchase a policy, the better the rates will be.

Don’t Miss Out

As the number of singles have increased in America so have the needs and problems they face. Fortunately, today’s life insurance policies provide benefits far beyond those of your parents and grandparents. Today’s life insurance products can provide the benefits needed to protect the singles of today.  Contact Asurea to find out just how much you can benefit from a policy.



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Asurea offers Life Insurance, Mortgage Protection Life Insurance, Medicare Supplement Insurance, Final Expense Insurance, Disability Insurance, Long-term Care Insurance, Retirement Planning products and more. For additional information, click on the ‘Learn More’ button below. Want to have articles just like this delivered to your inbox? Just enter your email address in the box below and click ‘Subscribe.’

This information is provided for general consumer educational purposes and is not intended to provide legal, tax or investment advice.

*Loans borrowed from your life insurance policy will accrue interest. An outstanding loan balance (loan plus interest) will be deducted from the death benefit at the time of claim. Accessing cash values may result in surrender fees and charges, may require additional premium payments to maintain coverage, and will reduce the death benefit and policy values. Dollar amounts are for illustrative purposes, not actual.


Leslie Freeland

Leslie Freeland

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Leslie joined Asurea as the Marketing Communications Coordinator in February 2015. Since then, she has been working closely with insurance professionals to educate the public on the importance of life insurance and protect the public from common scams with informational articles.
Leslie Freeland