It is also important when trying to get best life insurance rate that you consider other factors apart from price. Why? These factors may help save you money in long run even though company may not have cheapest term life premium. For example, is company financially strong? Does it have best renewal rate? Is company insisting on a medical exam? Cheap term life insurance is available but it also has to have other features.

Whatever method you use to find best deal for you, remember you can compare both prices and companies.

Term Life Insurance for Other Singles

Of course, not all singles own a home but that doesn't mean they shouldn't be considering a term life policy as well.

They may not need mortgage life insurance, but they certainly need term life insurance to cover expenses of their funeral, burial plot, and possible medical bills. Most singles don't plan for these expenses in advance and without a life insurance policy, loved ones would be left with a potentially large financial burden.

Additionally, investigating prices of term insurance and making a decision can also prevent family members from being left to cover other types of debt, such as car loans and credit card bills which don't simply disappear when a person, whether single or married, dies.