While it may be tempting to assume that you don’t need life insurance if you are single because you don’t have a wife or kids relying on you for future financial security; however, that isn’t always the case. Although no one wants to think of passing away young, the reality is that tomorrow is never guaranteed. Consequently, no matter what stage you are at in life you need to consider what would happen if you pass away. Who would pay for your funeral? Do you have any debts that exceed your total assets? What happens if your health deteriorates and you are not able to pass a physical later in life to become eligible for life insurance? All these questions and more need to be considered when determining whether you should have a life insurance policy.
As an example, let’s say that you are the co-owner of a house in your childhood hometown with your brother. Should you pass away, your brother would be responsible for the entirety of the outstanding debt which may exceed what they are able to pay. Alternatively, having a life insurance policy means that you won’t have to burden a family member or friend with any outstanding debts because your policy can be used to pay these obligations should something happen.
At the end of the day, we don’t know what the future holds, and having a life insurance policy sets you and your loved ones up for future success if something happens to you. At the Coosa Valley Financial Group in Rome, GA our talented and knowledgeable team of insurance professionals can help determine if a life insurance policy makes sense and find you one that exceeds all your needs without breaking the bank. Give us a call today to learn more and schedule an initial consultation with a member of our team.