You may get mail from life insurance companies offering low rates or be asked about it at work when life insurance agents come to talk to employees. If you don’t have kids or a spouse, you may assume you don’t need it. However, you may want to think again.


Life insurance is designed to replace your income if something happens to you. If you have children or a spouse who couldn’t support themselves, they may rely on the insurance policy to survive or live comfortably.

Most people without children don’t think they need a life insurance policy. However, if you care for an elderly parent and provide financial help, a policy may be important if something should happen to you. While they might not be considered traditional dependents, anyone who relies on even part of your income would have financial difficulty if something happened to you.

Future Care

Depending on the type of insurance policy you get, you may need the money for your own care when you get older. Whole life policies can be cashed out when they mature or even earlier. They are often used as a type of retirement income at a time when your funds will be limited.

You also want to think about those who are left behind. If they must pay for your final expenses or pay off debt you left behind, you will want to take out a life insurance policy.

You can take out a policy for life insurance in Salt Lake City if you have substantial assets. The money from the policy could pay the taxes for your beneficiaries. The money could also help them out until your estate has been released, which can take some time.

How Much Do You Need?

When deciding on the right life insurance policy, you must decide how much your beneficiaries will need to pay for final expenses, taxes or to live on. You can find policies for anywhere from a few thousands of dollars to over half a million.

You also want to consider other options before taking out a policy. For instance, some people pre-pay for their funeral expenses. However, a younger person may not want to risk that the company will still be in business many years from now. They may not want the hassle of making those decisions now, so they would rather have a life insurance policy.

It’s a good idea to talk to a life insurance agent and explain your circumstances before making a decision. An agent will be able to look at the facts and the products available and provide options that make sense for your situation.

Not everyone needs life insurance. However, you don’t want to assume it isn’t necessary just because you don’t have young children or a spouse who will need the support. Talking to a knowledgeable insurance provider will help you make the right decision about what you need and how much to care for those who are left behind.