Why should a single, healthy person carry life insurance?

Question

Why should a single, healthy person carry life insurance?

Answer 1

My experience might be relevant for you depending on what your plans are. I am in my late 30s with a toddler son now and I'm really regretting not having got insurance earlier. The premiums are higher now due to my age. There is also the risk that you will develop medical conditions (even just put on weight) that will cause your insurance premiums to be higher once you do get around to applying.

If I were you, I'd go to one of those insurance websites (give a false phone number so they don't bombard you with phone calls) and play with the quotes for different age groups. See how much more it will cost you at a more advanced age and see whether you think it is worth it to buy a policy now.

Answer 2

There is a bunch of useful information like articles,pictures,videos here to help answer your quetion.

http://insurance.online-assistant.info/i...

Answer 3

You dont really need it unless you have someone relying on your income such as a child or possibly you have a mortgage that could be paid off by your life insurance proceeds.

Answer 4

1, Rates increase every year of your age.

2.  While anybody will write a policy on a healthy person, should you develop cancer or some other dread disease, it won't be so easy to get.

  While you may be young, singe and healthy, what happens if you marry, have 3 kids, little insurance and find out you have diabetes???    What didn't cost nearly as much then will cost substantially more now.

Answer 5

The fact that you are healthy has no bearing on whether you should buy life insurance.  If you are healthy the insurance company will give you lower rates than someone who is currently unhealthy, but there is still a chance that you could become unhealthy.  People who are healthy buy life insurance and people who are unhealthy usually don't qualify for life insurance or pay high rates for it.  

As far as you being single you probably don't need life insurance.  If nobody is depending on you financially like a spouse, kids, an elderly parent, or a special needs sibling then you probably don't need life insurance.  If you wanted to make sure that your closest relatives aren't burdened with your final expenses should something happen to you then you could always get a small policy and leave them as the beneficiary.

Answer 6

As an insurance of what could/ might happen

Answer 7

slip trip fall accidents happen //

Answer 8

They generally don't 'need' it unless they've borrowed money from a family member that they want to insure gets repaid.  Otherwise it's NOT a matter of it going up in price which is a ridiculous reason.  It's a matter of you later not qualifying for coverage.  

Follow this scenario.  You don't get it because you're single and don't need it.  But, later on you meet someone, get married and have a baby (which actually sometimes happens in that order).  Anyway during the pregnancy one of you finds out you have cancer and die 18 months later.  And I just saw this happen to someone who was ~30 with a child.

Life DOES come at you fast, just like the goofy Nationwide commercials say.  So, I'm not saying you should have it BUT you are still taking a risk if one of your GOALS is to later have a family.  

If your plan is to always be single then pass on it.  But, if you want to make sure that you can get it then it can absolutely make sense.

Remember....churches don't have bake sales for the well insured....

http://insurancepickle.com/life-insuranc...

Answer 9

The same reason they should buy a power tool at Home Depot, that they have no use for - to buy it before it goes up.

Insurance, even life insurance, is a tool.  Set the goal, then select the product.  It's kind of silly to buy tools, just because they're there, or to "lock in" a price, if it's not accomplishing any GOALS for you.

Answer 10

Because even though you have no financial dependants, your parents, or closest relative may not have the proper funds for a funeral or even burial.  It can be pretty cheap. I would suggest looking in to a term life policy with a smaller benefit.