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One of the things that many of our single clients living around Laurel, MD is life insurance. This is not something they seek out when they visit us at Mid Atlantic Insurance Financial. Below are the reasons why you should change your mind.
Funeral Costs
Should you pass unexpectedly, a funeral and burial are necessary. Even without children or a spouse, you will need to have these costs covered. Life insurance policies are often used to cover the following:
- Funeral home services
- Burial costs
- Cremation services (if necessary)
Having your remains secured is critical so that your closest relatives do not have to cover these costs while trying to mourn. Depending on the services you would like and the way in which you want to leave your remains, having enough funds for these services is essential.
Joint Debts
Although you are single, you may still have some debt lingering that is tied with another individual. Should you pass unexpectedly, the debt that you have will not be eliminated. In fact, it will fall completely on the joined party. You want to ensure that you have enough funds in your policy to cover at least half of the debt to cover your portion. If you used a cosigner and are the primary holder of the debt, then you should have enough funds in the policy to cover the remaining debt.
Take Advantage of Good Health
Attempting to get a policy later in life could be difficult if your health begins to decline. While you have a good bill of health and eligible for health insurance, you should take advantage of it. Once your health starts to go down, your ability to get life insurance becomes harder.
We’re Here For You!
Give our agents at Mid Atlantic Insurance Financial a call today for more information. We proudly serve the Laurel, MD area and look forward to hearing from you soon.