Do I need insurance even though I'm single? -lonemomma
Total Comments: 15
Posted: Wed Jan 14, 2009 08:35 am Post Subject:
If you are single , then probably no one is dependent on your income .So that way, apparently you may not need life insurance , but if there are other factors like debts involved that you need to pay off , especially if you are a joint debtor with someone who might have to pay the debt if something happens to you , then having an insurance policy and making that person the beneficiary makes sense. And then even if you are single now, you may not stay single forever. So it's better to get a life insurance while you can still get it done because as you get older , it becomes harder to buy an insurance.
Posted: Wed Jan 14, 2009 09:54 am Post Subject:
If you are single , then probably no one is dependent on your income .So that way, apparently you may not need life insurance ,
But if you have people depending upon your income then life insurance becomes of primary concern for you. From your screen name it seems that you have kids to raise alone, hence it becomes even more important for you to protect the futures of the kids. I'd suggest that you contact an agent and learn more about the coverage options available to you. As unicorn has mentioned the insurability of an individual reduces with his/her age. Hence, it'd be wise to take initiative when the time is right.
Posted: Wed Jan 14, 2009 10:01 am Post Subject:
Hi lonemom, single individuals may also need life insurance. There are life insurance policies that can be planned to provide annuity at your retirement. Also, you may need 'final expenses' policy to meet the costs of burial (yeah, people don't like to talk about death, but its a fact, right).
Posted: Wed Jan 14, 2009 10:32 am Post Subject:
I missed that screen name ( only went with guest ). As I said in my previous post, there could be several reasons why you might still need life insurance even if you were single , but if you are a mom , then surely it'd be advisable to buy a life insurance policy because your children stand to benefit from your policy. Sorry about the oversight with the screenname.
Posted: Wed Jan 14, 2009 11:38 am Post Subject:
It is quite usual for the single people to believe that there is no need for any coverage in their lives.
This fact would surface more prominently when it comes to life insurance. You'd certainly need to consider some important queries before you'd be in a position to even think of whether or not to have insurance.
I'm also single but I have some dependents in the form of my beloved children and believe me or not I'm truly scared to think of their future whenever I'd not be there with them.
Posted: Wed Jan 14, 2009 12:00 pm Post Subject:
OP, do you want a funeral or do you want the state to bury you without a funeral or tombstone? Surely you have some family and friends that will want to pay their respects...who will this fall to? Do you have siblings or neices and nephews that may feel responsiblel for your funeral?
Posted: Wed Jan 14, 2009 07:17 pm Post Subject: Single also needs insurance
There's different area of interests for every individuals. People who are single like me, would be very much interested on hospital and surgical insurance and life insurance. Medical costs are rising, so it's very impt to get ourselves insured to ensure we are able to afford the medical bills in the event that we are warded into the hospitals. "TOUCH WOOD laa!!!" And it is of cos' ensure that we do not have to spend all our savings on medical bills and can use our savings for our retirement. Most importantly, we won't become a burden to our family members. Life insurance is also very impt. We may be single, but we still have dependents. Our parents!!! I would want my parents to be taken care of in the event when I'm not around ["premature death"] . And I may get married and have kids one day, which mean I will have many dependents. And it is advisable to buy life insurance when we are young, as the premium is level. When we are old and protection against premature death is not required, we can withdraw the cash which was accumulated throughout the years, so we can consider it as a savings plan.
Something to share with all of you. I have an auntie who had stroke recently. She is single and she is unable to work now. We also have to engage someone to take care of her. And she is not covered with any insurance. Now, all of us have to bear the burden of the medical bills for her and her future living expenses as she do not have much savings. So if she had cover herself with medical plans, then her bills will be taken care of by the insurance company. This is my experience, that is why I really think insurance is important no matter we are single or not.
Posted: Wed Jan 14, 2009 10:20 pm Post Subject:
Whether you need it now or not, if you need it in the future you may not be able to qualify.
It might be a good idea to get a cheap 10 yr term policy and lock in your insurability.
Posted: Thu Jan 15, 2009 08:40 am Post Subject:
hi..
..first of all, you should think whether you have any pre-existing medical conditions. You could better consider buying a life insurance when you're young and bear a sound health if you bear any of the generic deceases e.g. cancer, cardiac problems or diabetes etc.
In case you don't consider buying it before you develop such conditions it could be a bit difficult for you to find a carrier when you'd need it at a later stage in life.
Now, if you have such reasons to worry about please consider buying an extra guaranteed insurability rider with your policy.
Billbox92
Posted: Thu Jan 15, 2009 08:54 am Post Subject:
I'd support what Victor has said, one should also consider buying life insurance to protect his/her insurability. Lonemom, no one can say when the life would take an unexpected turn. A renewable term life plan would help you in safeguarding your insurability even if you develop severe health issues in the future.
Posted: Wed Jan 14, 2009 08:35 am Post Subject:
If you are single , then probably no one is dependent on your income .So that way, apparently you may not need life insurance , but if there are other factors like debts involved that you need to pay off , especially if you are a joint debtor with someone who might have to pay the debt if something happens to you , then having an insurance policy and making that person the beneficiary makes sense. And then even if you are single now, you may not stay single forever. So it's better to get a life insurance while you can still get it done because as you get older , it becomes harder to buy an insurance.
Posted: Wed Jan 14, 2009 09:54 am Post Subject:
If you are single , then probably no one is dependent on your income .So that way, apparently you may not need life insurance ,
But if you have people depending upon your income then life insurance becomes of primary concern for you. From your screen name it seems that you have kids to raise alone, hence it becomes even more important for you to protect the futures of the kids. I'd suggest that you contact an agent and learn more about the coverage options available to you. As unicorn has mentioned the insurability of an individual reduces with his/her age. Hence, it'd be wise to take initiative when the time is right.
Posted: Wed Jan 14, 2009 10:01 am Post Subject:
Hi lonemom, single individuals may also need life insurance. There are life insurance policies that can be planned to provide annuity at your retirement. Also, you may need 'final expenses' policy to meet the costs of burial (yeah, people don't like to talk about death, but its a fact, right).
Posted: Wed Jan 14, 2009 10:32 am Post Subject:
I missed that screen name ( only went with guest ). As I said in my previous post, there could be several reasons why you might still need life insurance even if you were single , but if you are a mom , then surely it'd be advisable to buy a life insurance policy because your children stand to benefit from your policy. Sorry about the oversight with the screenname.
Posted: Wed Jan 14, 2009 11:38 am Post Subject:
It is quite usual for the single people to believe that there is no need for any coverage in their lives.
This fact would surface more prominently when it comes to life insurance. You'd certainly need to consider some important queries before you'd be in a position to even think of whether or not to have insurance.
I'm also single but I have some dependents in the form of my beloved children and believe me or not I'm truly scared to think of their future whenever I'd not be there with them.
Posted: Wed Jan 14, 2009 12:00 pm Post Subject:
OP, do you want a funeral or do you want the state to bury you without a funeral or tombstone? Surely you have some family and friends that will want to pay their respects...who will this fall to? Do you have siblings or neices and nephews that may feel responsiblel for your funeral?
Posted: Wed Jan 14, 2009 07:17 pm Post Subject: Single also needs insurance
There's different area of interests for every individuals. People who are single like me, would be very much interested on hospital and surgical insurance and life insurance. Medical costs are rising, so it's very impt to get ourselves insured to ensure we are able to afford the medical bills in the event that we are warded into the hospitals. "TOUCH WOOD laa!!!" And it is of cos' ensure that we do not have to spend all our savings on medical bills and can use our savings for our retirement. Most importantly, we won't become a burden to our family members. Life insurance is also very impt. We may be single, but we still have dependents. Our parents!!! I would want my parents to be taken care of in the event when I'm not around ["premature death"] . And I may get married and have kids one day, which mean I will have many dependents. And it is advisable to buy life insurance when we are young, as the premium is level. When we are old and protection against premature death is not required, we can withdraw the cash which was accumulated throughout the years, so we can consider it as a savings plan.
Something to share with all of you. I have an auntie who had stroke recently. She is single and she is unable to work now. We also have to engage someone to take care of her. And she is not covered with any insurance. Now, all of us have to bear the burden of the medical bills for her and her future living expenses as she do not have much savings. So if she had cover herself with medical plans, then her bills will be taken care of by the insurance company. This is my experience, that is why I really think insurance is important no matter we are single or not.
Posted: Wed Jan 14, 2009 10:20 pm Post Subject:
Whether you need it now or not, if you need it in the future you may not be able to qualify.
It might be a good idea to get a cheap 10 yr term policy and lock in your insurability.
Posted: Thu Jan 15, 2009 08:40 am Post Subject:
hi..
..first of all, you should think whether you have any pre-existing medical conditions. You could better consider buying a life insurance when you're young and bear a sound health if you bear any of the generic deceases e.g. cancer, cardiac problems or diabetes etc.
In case you don't consider buying it before you develop such conditions it could be a bit difficult for you to find a carrier when you'd need it at a later stage in life.
Now, if you have such reasons to worry about please consider buying an extra guaranteed insurability rider with your policy.
Billbox92
Posted: Thu Jan 15, 2009 08:54 am Post Subject:
I'd support what Victor has said, one should also consider buying life insurance to protect his/her insurability. Lonemom, no one can say when the life would take an unexpected turn. A renewable term life plan would help you in safeguarding your insurability even if you develop severe health issues in the future.
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