When it comes to life insurance, California singles often see these policies as something associated only with families. However, unmarried individuals and single parents make up a substantial percentage of the population, and there needs to be increased awareness around the benefits of life insurance not only for families, but for singles, as well.
Singles today often invest in property or have responsibilities caring for elderly parents or others. If the individual in question were to die, a life insurance payout could be used to help manage the debt on a property or to help meet the care needs of elderly parents.
It’s not just dependents and existing debts that need to be considered when taking out a California insurance policy. Unfortunately, death is expensive and it is accompanied by costs such as funeral expenses, estate taxes and more. Having a life insurance policy in the event of your death can help ensure that these expenses are managed without having to put another family member or loved one in a difficult position.
So, for individuals who have never considered taking out the life insurance California singles need, now could be a good time to reevaluate your need.