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So you're a single person living alone. You have no dependents. You certainly don't need life insurance, right?

Wrong. The fact of the matter is that life insurance can be beneficial to people who are single and have no children.

Life insurance, for those of you who don't know, is typically meant to protect an income stream and provide for those who depend on you if you pass away. You can buy two types of life insurance: term life insurance and whole life insurance. Term life insurance will only cover you for a specified period of time (the term). Whole life insurance will cover you indefinitely.

There are reasons that you might need life insurance even if you're solo. For starters, you might have relatives that you want to support when you pass away. Perhaps you have a favorite niece or nephew whose college education you'd like to help finance. Also, you might want to throw some money towards your parents if you pass prematurely. The bottom line is that your beneficiary doesn't have to be your spouse or your dependents. You can designate just about anyone to receive your life insurance benefits.

Another reason that you might want life insurance is the cost of death itself. The cost of a funeral and a tombstone can easily run into five figures. Therefore, you might want to purchase a life insurance policy to help defray the cost of your burial and memorial service.

Finally, as of this writing, interest rates are low. This means that you can pick up an insurance policy that's very affordable. That can be beneficial because you might not always be single and without dependents. If you're hopeful that one day you'll start a family, then now would be an excellent time to purchase life insurance so you’re prepared to protect what the future may hold.

Life insurance certainly isn't a fun topic to discuss. However, it is a necessity for most people, even single people with no dependents. Talk to your independent insurance agent for more details.

Get the coverage you need. Call Allen Harmon Insurance at (269) 441-5165 for more information on Battle Creek life insurance.

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