Life insurance may seem like it’s only for married couples with kids, a car payment and a mortgage. While many holders of term and whole life policies fit in that demographic, you should know that everyone can benefit from life insurance. As a young person, you may not have a partner or kids, but there are other reasons why you should have a policy, such as:
- If you have anyone who depends on your income. If you pass away, they’ll be able to use the life insurance in place of the income you provided.
- You have debts like student loans and credit cards. Life insurance savings can go towards paying off those debts.
- You want a funeral and burial. If you have life insurance, the money can cover these costs so you don’t burden your loved ones with the expense.
To find out more about life insurance contact Stacy My Insurance Lady. As an independent insurance agent serving southern California, she’s on hand to answer all of your life insurance, disability insurance and individual and group health insurance questions and help you find the right life insurance policy for your needs.