When the topic of life insurance is broached, most people assume the discussion centers on breadwinners, married couples and those with kids. But singles need life insurance, too. Here’s why.

Why Life Insurance Is for all Adults

If you aren’t in a relationship and don’t have kids, life insurance still has merit. Though many are unaware of it, life insurance policies provide more than death benefits. Certain life insurance offerings expand in cash value across the length of the policy. This provides an opportunity to take out a loan against the policy, obtain cash when necessary or even surrender it for a large sum of money. In other words, life insurance policies can be similar to savings accounts, meaning they have significant cash value for singles.

If you lose your job, are considering buying a home, have an emergency expense or simply desire supplemental income later in life, you’ll be thankful for your life insurance down the line.

Also, plenty of singles own a business or will start one in the future. Oftentimes, life insurance policies are required as a form of collateral when seeking a loan to start a business.

Moreover, if you own a business and pass away sooner than expected, the policy’s death benefit will help keep the business humming along like a well-oiled machine. It all starts with a life insurance policy from Safechoice Insurance Agency.

Additional Reasons for Life Insurance 

Most singles have at least one relative who would greatly benefit from a life insurance payout. The bottom line is people are depending on you. If you have aging parents, a sibling or another dependent, do them a favor by getting a life insurance policy. This way, if you are no longer around, you’ll provide financial stability for those who depend on you.

Most Americans have debt. If you owe money to any party in Rochester, MN or elsewhere, you’ll benefit from life insurance. Medical debt, car loans, mortgages, business loans and general loans must be paid back. Obtain life insurance and the payout will help cover those unpaid debts, ensuring your loved ones live with financial freedom.

Get Your Life Insurance Today

Serving Rochester, MN, Safechoice Insurance Agency has the right life insurance product for you.  Give us a call today to learn more about our life insurance policies.