Many Arlington, TX residents get life insurance to ensure their families are financially secure if they pass away. However, many of those with no dependents don’t see the need to get life insurance. At Strack Insurance Services, we recommend that you get life insurance even if you have no dependents. Here’s why:
1. To Pay For Your End-Of-Life Expenses
Many people who have no dependents and think they don’t need life insurance never consider how they will pay for their end-of-life expenses like funeral and burial arrangements and costs. Others assume they will have sufficient time to make their funeral and burial arrangements and pay for the expenses. However, since death is unpredictable, they typically leave the burden of their funeral and burial arrangements and costs to their friends when they die.
Even if you don’t have dependents, purchasing final expense life insurance is wise. This policy will pay for your funeral arrangements and burial expenses. Thus, your friends can concentrate on giving you a worthy sendoff.
2. To Pay Your Debts
If your death comes following an accident that results in severe injuries or a coma, there is a possibility that you will have spent weeks in the hospital under intensive care before your death. This means that you will have accrued significant medical bills. The case is the same if your death comes after a lengthy hospitalization due to severe illness. Such medical bills and debt might cause inconveniences to your funeral arrangements and burial. However, if you have a term or permanent life policy, the settlement will be used to clear your medical bills debt, although you have no dependents. The payment can also be used to remove your student loan debt. Therefore, getting life insurance with no dependents will eliminate the possibility of debt tarnishing your legacy after death.
Contact Strack Insurance Services for life insurance advice in Arlington, TX.