Do Single People Need Life Insurance?
October 25, 2012 
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Here at Life Insurance Think Tank, a question we often get is, “Do single people need life insurance”? Many Americans never prepare for things like life insurance until they get married, have their first child, or some brush with death (or a family member dying). So the answer that a recent study by WellPoint received didn’t surprise us too much. WellPoint asked 2,500 Americans ages 18 and older if they thought that single people needed life insurance. A fairly large percentage, 25%, said no.
In this survey, men were actually more prone to say “no” to the question than women (29% vs 22%) and not surprisingly, younger adults (18-34) were more likely to say “no” than those 55 and older. We can see where young, single 18 to 25 year old’s with no job, no children, and no extra expendable income could hold off on life insurance until their situation changed, but any single adult with children, should always have life insurance. Sadly, single parents are some of the worst in regards to percentage of not having insurance in place. Many blame it on the fact they are raising children on a single income. But it shouldn’t be an excuse. It would be even worse for the children if something happened to that single parent who didn’t leave any tax-free money for their children to survive, get a higher education, etc
