Single With No Dependents? Here Are 6 Reasons Why You Should Still Consider Life Insurance

Written by Jing Xuan

Ask a financial adviser why the need for life insurance and a typical response would be the importance of protecting your loved ones so that they would have a smoother transition during the difficult time should anything unfortunate happen to you. However, what about the single people with no dependants? Does that mean they don’t need life insurance? While it may seem pointless at first for an individual with no dependants to purchase life insurance, here are 6 reasons why fundMyLife believes otherwise.

#1 Loans/debts

For single people with no dependants, think about your debts. If you have co-signed any loans, the entire debt burden will fall upon your co-signers should you pass on. Would your co-signers be able to manage on his/her own? A life insurance policy naming