Study finds life insurance gap between married, single people

Feb 04, 2011

Life insurance is important for single people too

A survey by a major insurer reveals that single people are less likely to have coverage than their married counterparts.

There is approximately a 20 percent difference in life insurance coverage between married and single people, according to the survey. Despite this, the majority of those without partners feel it's important to have the coverage.

Most people are familiar with the death benefit that comes along with a life insurance policy, which can be particularly helpful for those who are heads of a household.

However, a representative from the insurer who conducted the survey says there are reasons for single people to have life insurance as well.

"Although most single employees don't have anyone depending on them financially, they still need life insurance to help pay for final expenses and any outstanding debt such as credit cards or mortgages," he said.

Those who are considering life insurance have several options to turn to for more information. People can begin by getting quotes online and checking to see if their employer offers the coverage as a benefit. 

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