 AUTO INSURANCE AND CREDIT REPORTS, What does one have to do with the other? |
| Does any one but me think its bull that one can be refused auto insurance or pay a higher premium because their credit score may be lower than some other guys. Why on earth are we letting car ... |
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 What right does my insurance company have to Include my Mortgage Company on my claim check? |
We had a house fire and I'm looking for answers.
After all, my mortgage is secured from default by PMI. My Mortgage company did not take out the policy on my house, I did. My mortgage ... |
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 Good health/medical insurance? |
| I need some help so I can help out my brother. Hes 26 and doesn't have any health or medical insurance and ive been getting on his case a lot about it latley. What are some free or cheap state ... |
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 We are about to rent a home, and they want us to pay $300,000 worth of liability, is that unrealistic? |
| The home my husband and i are going to rent is asking now that we have singed our lease documents that we pay for $300,000 worth of liabilty on thier home. The house is not even worth that much. Is ... |
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 HELP!! Blue cross blue shield unfairly denied my child? |
| I applied for health coverage for my 5 year old daughter. She has had some urinary tract infections over the last year. She has had probably 5-6 infections and prescribed antibiotics to clear them up.... |
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 Health Insurance Question? |
| My family's health insurance is issued through my husband's employer. They recently changed our insurance from blue cross to united healthcare beginning Nov. 1. We still have no cards. When ... |
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 What is the benefit of job benefits when you pay $110/monthly? |
just for healt ins.
plus $25/mo for dental.through my job.
I'm young, excellent perfect wonderful health. dont smoke/drink.
ferfect size/height.
I dont understand whats cool ... |
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 What can an annuity do for me? |
| I'm completely ignorant on the subject. I know there are similarities to life insurance policies. And I've heard they're a great investment tool. But why?... |
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 Unable to pay LIC Premium. What are the options available? |
| I hold 12 LIC policies, with net preminum of 10,500 per month. I'm unable to pay the premiums for all the policies due to financial problems and hence discontinue few of them. In LIC website, ... |
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 Insurance cancelled? |
| it was renewal time for my car insurance policy and i paid the amount that they request for the renewal. but i had 45 dollars more to pay but i thought i didnt have to pay it until may. but i found ... |
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 Do I need life insurance? |
| I am 29 yrs old..single..no husband, no kids. My company is offering a free 50,000 dollar life insurance policy but do I even need it since I have no dependents?... |
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 Insurance cover? |
| I have a current claim for tree root damage to a conservatory which insurance company have agreed to cover. As they intend to appoint their own contractors to do the work I dont know the costs. If I... |
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 Is there any aid for victims of house fires? I have nothing left. No renter's insurance. Nothing. Help. |
| My house burned this morning. NO structural damage, but all my worldly possessions are gone. I need help. I'm a college student and now I have nothing. No clothes, my computer is melted, my ... |
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 Large tree fell on car and Im stuck with the bill, Advice ? |
| on 07/06/06 (state Texas) I had my car parked in a friends apartment complex parking lot and a large tree broke somehow and fell on a electric pole and both the pole and tree fell on mine and another ... |
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 Can an employer legally prevent you from dropping your health insurance plan before annual enrollment? |
| We were told we can only drop or change a plan for marriage, childbirth, a promotion or quitting the job. The cost is unaffordable and we didn't check the cost before signing up. Can we plead ... |
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 Does illegal substance abuse void health insurance? |
| During an hospital visit, blood/ urine test confirms illegal substances.Can insurance withhold payment for other services or rescind policy?... |
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kitty | Do single people (with no kids) need life insurance? |
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LifeInsuranceAgent
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no |
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mbrcatz
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That's the wrong question. It's like asking, "Does a single man need a table saw".
Insurance is a tool, even life insurance. In order to pick the correct tool for the job, you FIRST have to define the job.
So, what exactly do you want the insurance to ACCOMPLISH? What's the GOAL? And, what's the cheapest way to ACHEIVE the goal??
Yes, some singles with no kids will have a need for life insurance, to meet a particular personal goal of theirs. Like setting up a trust to take care of their cats. Or their aging parents.
But you have to define your OWN goals first. THEN ask the question, what tool fits the job? |
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rainfingers
 |
Maybe a small amount. The main purpose of life insurance is so that people who depend on your paycheck (kids, stay at home spouse, elderly parents, etc.) aren't suddenly impoverished if you die.
If you think the cost of an unexpected funeral would be a serious burden to your family, a small amount of life insurance might be appropriate. But a better idea would be to just save up the money, which you should do anyway for your own future.
Debts cannot be passed on when you die. If you die owing money, your family will not have to pay it. However, the debt will be subtracted from any savings you leave behind. (Google "inherit debts" if you want to confirm this.) |
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stephenweinstein
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Not usually. A very small amount (no more than a few thousand dollars) of term insurance to cover funeral expenses if you really want it. Definitely not whole life or more than you expect your funeral to cost. None at all if your parents are alive and can afford to pay for your funeral expenses. |
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zippythejessi
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IMO - if you have any assets - like a house - you should. |
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Bradley S
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Life insurance is designed to protect a family against the financial burdens that accompany the sudden, unexpected loss of a breadwinner. If you are single with no children, who are you protecting? Are you worried about your family paying funeral costs or debts, should you die prematurely? If so, you could take out a policy to meet those goals. If you are worried about leaving behind debts, check with your lender to see who is obligated to pay back the loans if you die. If your family is liable for your debts, then, yeah, life insurance might be good. |
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Emily & her mommy love Da Bears!
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Single people need enough insurance to pay for their funeral expenses and any debt they may have so that their relatives don't have to pay for it themselves. |
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Josh
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Yes, everyone needs life insurance. I don't know if you intend on ever getting married or having kids or not, but if you do then you certainly will need it then, and if you wait unitl then to buy it you will have to pay a LOT more for it. Also, heaven forbid you should develop any health problems in between now and then or you may not be able to get any at all. Funerals and arrangements are very expensive, just a coffin may be $10,000.00, you also have to buy a cemetary plot which will be a few hundred, and pay for things like embalming, coroner, so on and so forth. It adds up very quickly. Also, don't buy term life insurance, there's no point. Sure it's cheap, but after you turn 65 the coverage reduces 50%, and after 75 it expires completely. The ages vary a little but not too much. I have a whole life policy for $500,000.00 I got when I was 20 years old, and I pay only $40.00 per month. It will also be nice to leave my loved ones with a nice lump of cash when I go.
By the way, I don't know what that one guy was talking about but your debts can and WILL be passed on. Sure they can use your savings if you have any, but if it's not enough then someone will be responsible. People think they know things on here, always rely on a professional opinion, call an insurance company and get the details, please. |
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Eric C
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It couldn't hurt in order to cover any debts and expenses you may leave behind.
(funeral costs, outstanding debts - like student loans, credit cards, etc.) |
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