Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Is life insurance necessary for a single person? I will answer based on my reasons for having life insurance when I was a single person, it is up to the reader to decide if that is a good reason or not.
As a single person, I still had a mom, and had I died, it would fall upon mom to clean up my stuff. In no particular order the reasons for owning life insurance at that point in time in my life.
I just died, I'm sure that's a whammy to my mom. I just died without life insurance sorry for the "double whammy" mom.
My service? Mom, I'm sure you can borrow the money to bury me. Or tap your retirement plan or home equity...
My debts? Well I'm sure you don't mind the calls and letters or even that college loan you cosigned for me paying it back after I just died.
Time off your work mom? I'm sure if I die on a Saturday, you'll be back at work on Monday like nothing happened and certainly your bills are paid well enough in advance that you can take unpaid time off to grieve.
My dog, mom. Here's my dog. take care of him for me will ya?
If I haven't listed enough reasons for a single person to consider the need for life insurance, well I guess I did it for dumb reasons. It could be your mom, dad, brother, sister or a good friend, why buy life insurance as a single person? Cause you care enough about the people who care enough about you. For me, it was my mom. Now it's my wife and kids. They actually would hate to lose me, I actually would hate to put a burden on their shoulders when I die, tomorrow or 50 years from now.
Life insurance coverage is based on your beneficiaries suffering economic loss or obligated to pay final expense items as a blood relative. If they’re no beneficiaries or financial obligations, then life insurance may not be for you. But most people have at least one of these two people groups to consider when weighing the need for life insurance. Desiring tax advantaged income for supplemental retirement funding may be an excellent reason for a single person to consider purchasing cash value life insurance.
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As a single person, I still had a mom, and had I died, it would fall upon mom to clean up my stuff. In no particular order the reasons for owning life insurance at that point in time in my life.
I just died, I'm sure that's a whammy to my mom. I just died without life insurance sorry for the "double whammy" mom.
My service? Mom, I'm sure you can borrow the money to bury me. Or tap your retirement plan or home equity...
My debts? Well I'm sure you don't mind the calls and letters or even that college loan you cosigned for me paying it back after I just died.
Time off your work mom? I'm sure if I die on a Saturday, you'll be back at work on Monday like nothing happened and certainly your bills are paid well enough in advance that you can take unpaid time off to grieve.
My dog, mom. Here's my dog. take care of him for me will ya?
If I haven't listed enough reasons for a single person to consider the need for life insurance, well I guess I did it for dumb reasons. It could be your mom, dad, brother, sister or a good friend, why buy life insurance as a single person? Cause you care enough about the people who care enough about you. For me, it was my mom. Now it's my wife and kids. They actually would hate to lose me, I actually would hate to put a burden on their shoulders when I die, tomorrow or 50 years from now.