Agent, Rural Mutual Insurance Co., Union Grove, WI
To pay off debts that are left after they pass away. To leave a legacy. This could be to provide money for college for niece's, nephew's, grandkid's, or other siblings. To provide for their favorite charity after they pass away. They may not remain single before they pass away. Remember the younger you are when you purchase life insurance coverage the lower the cost.
Single people can use life insurance for many purposes.
Perhaps they want to leave an inheritance to a favorite relative, or a donation to a favorite charity. Life insurance is a tax favorable way to pass wealth to another person or group.
They may have debts that they want to pay off in a quick and simple manner with the cash that life insurance provides.
They may want life insurance so that a business partner can buy their share of the business upon their death.
Life insurance is also a good resource for paying funeral expenses. It does not go through probate and is awarded in a fairly quick time frame. Single people often choose to take out some extra final expense life insurance coverage to help pay for the costs associated with settling their estate.
President, Lane Independent Agency, Southern California
OK. You think you don't need life insurance, huh? I got a few ideas for you to think about. First the premium now is the lowest it will ever be. Because of your age and your health. Second, you may have a family later, when the rates are higher, if you even could qualify then. Also, I have a new kind of life insurance which pays you while you are alive, for such things as chronic care, critical care, terminal care, disability, all in one single policy with one very much lower premium. Now, don't you wish you had this? Let's talk, since it is only available from PFA Agents. Gary Lane, garylane@cox.net, 714 422 9616. Thanks.
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Perhaps they want to leave an inheritance to a favorite relative, or a donation to a favorite charity. Life insurance is a tax favorable way to pass wealth to another person or group.
They may have debts that they want to pay off in a quick and simple manner with the cash that life insurance provides.
They may want life insurance so that a business partner can buy their share of the business upon their death.
Life insurance is also a good resource for paying funeral expenses. It does not go through probate and is awarded in a fairly quick time frame. Single people often choose to take out some extra final expense life insurance coverage to help pay for the costs associated with settling their estate.