|
Term Life Insurance Quotes for Singles
By Ivon T. Hughes
Term life insurance quotes are rarely a concern of single people, but they should be. Unfortunately, there is a misconception that term life is something owned only by families in the event that the chief breadwinner dies.
Term life insurance quotes and policies should be on the minds of everyone, not just parents and families, for a couple of reasons.
Mortgage Life Insurance
While people are still getting married and buying homes, the same is true of many single people. For single individuals who own a home, getting life insurance through comparison shopping is important.
If a property owner dies without insurance, the bank who handles the mortgage, would take back the home and sell it as quickly as possible in order to recoup their loss. Imagine how heartbreaking that could be for the person's family.
However, if the owner had simply investigated the cost of a term life policy, he or she could have found an affordable policy that would have allowed their loved ones to pay off the mortgage and to keep the property. Even if they chose not to live in the home, it could have been sold at a higher price or turned into rental property to provide income for the beneficiaries. No matter how the property is used, at least the deceased's investment would not have been wasted.
Term Life Insurance for Other Singles
Of course, not all singles own a home but that doesn't mean they shouldn't be considering a term life policy as well.
They may not need mortgage life insurance, but they certainly need term life insurance to cover the expenses of their funeral, burial plot, and possible medical bills. Most singles don't plan for these expenses in advance and without a life insurance policy, loved ones would be left with a potentially large financial burden.
Additionally, investigating prices of term insurance and making a decision can also prevent family members from being left to cover other types of debt, such as car loans and credit card bills which don't simply disappear when a person, whether single or married, dies. About the Author Ivon T. Hughes, The Hughes Trustco Group Ltd.
Online Insurance Broker - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: info@trustco.ca Web: http://www.hughestrustco.com
Article Source: http://www.simplysearch4it.com/article/4186.html
If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/4186.html" as shown above and make it hyperlinked. |
Some other articles by Ivon T. Hughes | Life Insurance: 6 Good Things To Know We know the importance of life insurance as we want to
make sure that our loved ones are taken care of when
we die. But do some research so you'll be sure to get the ...
Why Don't Women Have Life Insurance? Traditionally, life insurance companies solicited men as the main breadwinners in a family to ensure, that they had adequate life insurance coverage.
Now, times have changed, ...
Disability income insurance can meet all your financial needs Disability income insurance can cover you in the event of a severe accident or illness but, it really depends on how ...
Canadian Funeral Insurance: Our Final Gift to Those We Love Most of us don't like thinking about our own funerals, but no matter how much we ignore the inevitable, the truth is that when the time comes someone will be responsible for those expenses. The question ...
Mortgage Life Insurance Owning a home is a dream for most of us, although it is an expensive one. The monthly payments usually take up a big slice of our monthly income, and the sudden loss in the event of ...
Mortgage Insurance Plans: How Good Is Yours? Mortgage insurance, to pay off a mortgage, is something you'll inevitably be asked to take out by the bank. Mortgage ...
|
|
| |
|