Term life insurance quotes are rarely a concern of single people, but they should be. Unfortunately, there is a misconception that term life is something owned only by families in
event that chief breadwinner dies.Term life insurance quotes and policies should be on minds of everyone, not just parents and families, for a couple of reasons.
Mortgage Life Insurance
While people are still getting married and buying homes, same is true of many single people. For single individuals who own a home, getting life insurance through comparison shopping is important.
If a property owner dies without insurance, bank who handles mortgage, would take back home and sell it as quickly as possible in order to recoup their loss. Imagine how heartbreaking that could be for person's family.
However, if owner had simply investigated cost of a term life policy, he or she could have found an affordable policy that would have allowed their loved ones to pay off mortgage and to keep property. Even if they chose not to live in home, it could have been sold at a higher price or turned into rental property to provide income for beneficiaries. No matter how property is used, at least deceased's investment would not have been wasted.
