Many blogs focus on the importance of life insurance if you have a spouse or family, but it is equally important for a single person to pay burial and other costs. Saving for retirement also tops the all-important list of reasons to buy life insurance. In Harrisburg, PA, let Henderson Insurance Agency help you get started using life insurance as a financial investment tool.
If you’re single, you might think of life insurance as a need for married couples. They have a spouse and perhaps children who’ll need replacement income and help with burial expenses. But, single people can also have children. They may have aging parents whose health may be failing. Single people also need to save for retirement.
Life insurance provides for these needs. While a standard policy, covers your death costs while you pay the premiums, but accrues no value, you can obtain term life insurance to build cash value while insuring your life. Term life also remains in force only as long as you pay premiums. You can cash out the policy at the end of the ten to 30-year term though and obtain the accrued value. You can also borrow against the policy during its term so long as it remains in force.
Finally, the younger you are when you obtain a policy, the more reasonable your premiums will be. You can lock in rates with some policies. It’s cheaper to start when you’re 25 than 32.
Contact Henderson Insurance Agency of Harrisburg, PA to get started with a life insurance policy that can protect you throughout your life. Our term offerings can help you affordably invest in your future.