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STORM SEASON
Important Note:

June through November our agency may become prohibited from binding coverage should a “Tropical Disturbance” enter the Gulf of Mexico or Caribbean Sea.

In these cases we may be unable to bind new coverage quoted in open proposals until the storm leaves our area and our binding authority has been restored.

Please arrange your coverage protection early to avoid this type of delay. While we regret any inconvenience, the carriers impose these restrictions on all agencies.

Single? Here Are Five Reasons You Still Need Life Insurance

If you’re currently single, you’re not alone. According to the Bureau of Labor Statistics, unmarried adults made up 50.2 percent of the U.S. population in 2014. That’s approximately 124.6 million people, a number that has increased more than 22 percent since 1950. And while being single has its advantages—no one is hogging your covers or leaving the cap off the toothpaste, after all—they don’t include forgoing life insurance. In fact, here are five very good reasons why you may still want to consider this valuable investment.

  1. Life insurance will cost you less now than it will later. The younger and healthier you are, the lower your monthly life insurance premium is likely to be. While you may want to set aside savings for an emergency fund and start making retirement account contributions before you buy, doing so now can yield significant savings. In fact, according to analysis of current market rates by ValuePenguin, an insurance education website, a $250,000 20-year term policy will cost a 25-year-old nonsmoker an average of $27.53 a month. The same policy for a 45-year-old is $51.62 a month.
  2. Your parents, other family or friends cosigned loans for you. In most cases, loan cosigners are fully responsible for balances owed should the primary borrower pass away. With the typical college education (at a four-year, public university) currently costing $9,139 per year according to The College Board, this can easily become a significant burden. A life insurance policy will eliminate the potential for resulting financial hardship.
  3. Others rely on you for financial support. Sometimes singles still have people who depend on them. For example, according to U.S. Census figures, nearly 16 million unmarried parents live with their children. You might also find yourself caring for grandparents and special-needs siblings. A life insurance policy can ensure they will still have the support they need should you pass away.
  4. You’re a small business owner. Maybe you started a software company with a few college friends. Perhaps you and your sister are in business creating and selling organic soap. Whatever you do for a living, if you want your partners to be able to carry on after your death, you may need a life insurance policy. A buy-sell agreement, in which a policy is purchased on each individual or for the group, can provide heirs with a payout in lieu of a stake in the business.
  5. Leaving a legacy is important to you. Are you passionate about the welfare of animals? Do you have a special bond with a niece, nephew or child of a friend? Whatever the cause or reason, if you’d like to leave something behind for it after your passing, a life insurance policy can enable you to do so.

If you’re currently single and without life insurance, we’d love to help you explore your options. If you’re not, feel free to share this article with single friends. And remember: it’s important to re-evaluate your coverage whenever you experience a significant life event.