Life Insurance in Las Vegas, NV: It’s for Single People, Too

Posted byPaola Nadeau on Dec 2020 in Insurance providers | 0 comments

It’s a common misconception that life insurance is just for people who are married or have children. However, single people can benefit as well, because their deaths have financial impact on other people. Life Insurance in Las Vegas, NV does not always make sense for a single person, but sometimes it is just the right solution–and your needs depend on your goals.

Your Life Can Change in an Instant

When considering buying life insurance as a single person, consider your ‘final expenses’. Who will pay for your mortgage, your debts, your funeral and your other expenses? Buying life insurance now can help you protect your insurability in the future. Coverage is cheaper for young, healthy people, and it eliminates the chance that a future medical condition could render you uninsurable. Single people don’t always stay that way; buy a policy today and you can add on to it if you ever get married.

Insurance is a Smart Investment

Depending on the kind of coverage you buy, a life insurance policy can help you save over time. By using a ‘cash value’ policy, you can redirect your retirement contributions toward it, and you can accumulate money tax-free in many cases.

Considering the Cost

With any insurance purchase, cost is one of the first considerations to be made. Factors determining the amount you’ll pay include the following:

Your health (healthier people pay lower rates each month)

Whether or not you smoke (smoking can add up to 40% to the cost of a policy)

Your family’s medical history

Your age

Your gender (in most cases, men pay more than women)

Risky hobbies or occupations may lead to a higher premium or an accidental death exclusion. The places you travel, your credit rating and your driving record can also determine how much you pay. As important as a low rate can be, price should not be the only reason you choose a particular policy. As with most other important purchases, it pays to shop around.

Every adult, regardless of age, should have a financial plan in place–and life insurance is the foundation of any solid plan. Life can change at any time, and when disaster strikes, Life Insurance can be the perfect solution at a stressful time.