Life insurance isn’t just for those married with children, single adults without children can benefit from it, too. When you’re single, healthy, and childless, a life insurance policy is probably the last thing on your mind. You might think that buying coverage is just another unnecessary expense; however, there are plenty good reasons why it could make sense for you:
- You have cosigned debts. While it’s a fact that federal student loans are discharged in the event of the borrower’s death, it’s not the case with private student loans—especially if you have cosigners. This applies to other cosigned debts such as mortgages, car loans, or credit cards. Your cosigners will bear the financial responsibilities that could be covered with the proceeds from a life insurance policy.
- You own a business with a partner. Life insurance can be the cornerstone of a business’s succession plan. In your absence, it can ensure a smooth transition and increase the longevity of the business you’ve worked hard to build.
- You want to leave a legacy. At some point, you may want children or you may end up caring for your parents, grandparents, or non-biological children. If you name them as your beneficiaries, the policy could help them cover everyday expenses if you were no longer around. You could also continue giving and provide a lasting legacy by naming your favorite charity as your beneficiary.
Life is unpredictable and has a way of changing fast. Life insurance is about protecting what’s important to us. We’re all leaving someone behind, and burdening loved ones with financial liabilities is probably the last thing we’d want to leave them with. Whether you’re single or not, chances are that you may relate with at least one of the scenarios above. And if you’re still unsure about coverage, reach out to us at 540-720-5656 and let us help determine whether a life insurance policy fits into your financial plan.
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Megan Jones joined the ILG Financial team in 2020 as marketing director. Megan and her husband live in Fredericksburg, VA with their German Short Haired Pointer, Gus. Megan is a graduate of Longwood University and holds a degree in communications. Megan is the oldest of Dave Lopez’s three children and not only enjoys working alongside her father, but also with her cousin, Chase, who joined the ILG Financial team in 2020 as an advisor. Megan is also a fully licensed Life, Health, and Annuity agent. When not at work, Megan enjoys sitting on the back porch with family and friends enjoying food and music.
Amy Anderson joined the ILG Financial team in 2023 as the client relations coordinator. Her responsibilities include scheduling of appointments, annual check-up notifications, and annuity and required minimum distribution assistance. She is a graduate of Harding University with a degree in Computer Information Systems. Amy and her husband have two children and she enjoys reading, crocheting, music and spending time with her family.
Terri Center joined the ILG Financial team in 2019 as client services manager. She handles client records, application processing, and gathering information to provide a professional and friendly experience with all of our clients. Terri is a graduate of Oakland University. She is married and has two children. She enjoys hiking, family time, and puzzle challenging video games. She also likes to share her creativity in her canvas paintings and sewing projects.
Jessica Carson joined the ILG Financial team in 2018 as an agent. Jessica and her husband have four children, two dogs, 3 barn cats, 5 chickens, and three parakeets. She indeed loves her children and pets! When not at work, Jessica enjoys playing the piano and cello as well as traveling and spending time outside with her family, hiking, fishing, and boating.
Chase Lopez joined the ILG Financial team in 2020 as an advisor and obtained his