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Many people have the common misconception that if you aren’t married or have children, then you really don’t need life insurance. However, according to LifeHappens.org there are many reasons why those who are single should invest in life insurance. 

You have student loan debt

Did you know that your debt doesn’t always die when you do? For example, if a parent co-signed a loan with you, they would be held responsible for repaying that loan should something happen to you. In some cases, those loans are required to be paid in full when you die. You wouldn’t want to leave your parents with such a debt and be grieving the loss of you at the same time. 

1. You’re living with your significant other

   More than likely you both are splitting the cost of living. Therefore, should something happen to you would that prohibit your significant other from being able to pay for rent or utilities? Would they have to move out quickly or default on payments? Life Insurance could help in this situation. 

2. You plan on having kids… someday

   It’s no secret that having children is expensive, why not lock in your insurance coverage now in preparation for the future? 

3. You’re young and healthy

   Age and healthiness are two factors that weigh heavily on the cost of life insurance. Why not lock in a lower price now, instead of waiting until you’re older and more susceptible to acquiring a health issue.  

4. You know you’ll be taking care of family members in the future 

   Do you have aging parents or a special needs brother or sister? Establishing a life insurance plan for yourself would protect the needs of your family members in the event something was to happen to you. 

5. It will pay for your funeral 

Obviously, no one likes to think about their funeral, however they can be costly. Some funerals can cost on average over $7,000. A life insurance policy would help pay the cost of your funeral, which would help your family tremendously in their time of grief. 

To find out more about Life Insurance Policies visit https://www.gfbinsurance.com/products/life