Call Us 301-934-6010 ☰ ˟
Logo
Call Us 301-934-6010
  • HOME
  • Products
    • Auto InsuranceImage of right arrow
      • Classic Car
      • Collision Coverage
      • Liability Coverage
      • Medical Payments Coverage
      • Minor Violation Forgiveness
      • Personal Injury Protection
      • Recreational Vehicle
      • Rental Reimbursement
      • Uninsured & Underinsured Motorist
      • Vanishing Deductible
    • Home InsuranceImage of right arrow
      • Condo Insurance
      • Homeowners Liability
      • Landlords Insurance
      • Mortgage Protection
      • Property Insurance
      • Scheduled Property Insurance
    • Financial Services
    • Life InsuranceImage of right arrow
      • Group Life
      • Individual Life
      • Long Term Care
    • Powersports VehicleImage of right arrow
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Motorhome Insurance
      • Snowmobile Insurance
    • Personal Umbrella & Identity Theft
    • Coverage for Your BusinessImage of right arrow
      • Bonds
      • Business Catastrophe Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Real Estate Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Equipment Insurance
      • Errors and Omissions Insurance
      • Fidelity Bonds
      • Leave Management
      • Loss Control Insurance
      • Inland Marine Insurance
      • Mechanical Breakdown Insurance
      • Office Insurance
      • Product Liability Insurance
      • Professional Liability
      • Shipping Insurance
      • Small Business Insurance
      • Small Business Liability Insurance
      • Storage Insurance
      • Surety Bonds
      • Technology Insurance
      • Trailer Insurance
      • Transportation Insurance
      • Trucking Insurance and Semi Truck Insurance
      • Workers Compensation
      • Van Insurance
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance
      • Alarm Contractors Insurance
      • Insurance for Arborists
      • Bar Insurance
      • Box Truck Insurance
      • Builders Risk Insurance
      • Car Dealership Insurance
      • Cargo Insurance and Freight Insurance
      • Catering Insurance
      • Cleaning Business Insurance
      • Construction Insurance
      • Consulting Firm Insurance
      • Contractors Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Dental Practice Insurance
      • Dump Truck Insurance
      • Educational Facility Insurance
      • Financial Institution Insurance
      • Food Truck Insurance
      • Fleet Insurance
      • Handyman Insurance
      • Garage Insurance
      • Healthcare Facility Insurance
      • Healthcare Practice Insurance
      • Law Firm Insurance
      • Life Science Insurance
      • Limousine Services Insurance
      • Liquor Liability Insurance
      • Livestock Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Maritime Employers Insurance
      • Media & Advertising Insurance
      • Non Profit Insurance
      • Pharmacist Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Real Estate Businesses Insurance
      • Retail Insurance
      • School Bus Contractors Insurance
      • Scrap Metal Insurance
      • Security Guards Insurance
      • Self-Storage Insurance
      • Septic Contractors Insurance
      • Snow Plow Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Tractor Insurance
      • Tow Trucks Insurance
      • Water Well Drillers Insurance
      • Veterinary Insurance
    • Coverage for Your EmployeesImage of right arrow
      • Small Business Retirement Plans
      • Employer-Sponsored Retirement
      • Group Benefits
      • Group Disability Insurance
      • Voluntary Benefits
      • Retiree Health Coverage
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
  • Get A Quote
    • Auto Insurance Quote
    • Business & CommercialImage of right arrow
      • Business Owners (BOP) Quote Form
    • Homeowners Insurance Quote
    • Life Insurance Quote
    • Recreational Vehicle Insurance Quote
    • Watercraft Insurance Quote
  • Resources
    • Blog
    • Refer a friend
    • Important Links
    • Insurance Glossary
  • About Us
    • About
    • Our Location
    • Employee Directory
    • Testimonials
    • Community Involvement
    • Privacy Policy
  • Contact
Auto Icon

Auto

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home Icon

Home

We browse through a wide variety of coverages and find the right one for you.

Learn More
Business Icon

Business

We browse through a wide variety of coverages and find the right one for you.

Learn More
Life and Financial Icon

Life & Financial

We browse through a wide variety of coverages and find the right one for you.

Learn More
RV & Boat Icon

RV & Boat

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home > Blog > The 4 Types of People Who Need Life Insurance
FRIDAY, JANUARY 22, 2021

The 4 Types of People Who Need Life Insurance

Since life insurance isn't required by law, many people don't buy it. Some feel it's tempting fate, others see it as a waste of money. In fact, it's neither. Here are four groups of people who do need life insurance, and some reasons why: a group of people in a garden

Young Professionals 

Recent grads and young professionals may not seem like typical candidates for life insurance. This is true especially if they're single, employed and have no dependents.  

But many have student loans, and sometimes these are in their parents' names. It's people in the latter group that should consider life insurance most. If you pass away, the loans in your name might go away but the ones signed by your parents may not. An insurance payout will allow your parents to pay the debt without second thought. Then they can move forward in their healing process without the financial burden. Life insurance will also likely pay off any other debts you have. 

Newlyweds 

Getting married often brings a sizable amount of debt under one roof. You might not have dependants, but should one spouse die, the insurance will allow the other financial security. They can pay debts using the settlement. Money can be set aside for any dependents that you do have, as well. 

Parents 

Parents have a clear need for life insurance on them, and the other parent. Even if you are not with your child's other parent, they need it too. It's important that they understand this need for insurance. You also need a will that tells surviving family members how you want the money used. Update this after family changes occur. The birth of another baby or the passing of the person you named as guardian are times when you need to update. 

Retirees 

Conventional advice suggests that by retirement age, life insurance isn't as essential. Still, if you're near retirement and have little saved, getting life insurance is smart. It will be more expensive, for sure. But well worth the cost for the value you get when you make a claim. Even if you have a considerable nest egg that will support you, it's still a good idea to have a policy. It's very easy to see that almost everyone should have life insurance. Don't think of it as an investment, but peace of mind for the loved ones of those who pass.  
Posted 5:17 PM

Tags: life, insurance, premiums, costs, coverage
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021

  • insurance(9)
  • coverage(6)
  • life insurance(4)
  • auto insurance(4)
  • life(3)
  • policy(3)
  • business insurance(3)
  • homeowners(2)
  • business(2)
  • commercial(2)
  • premiums(2)
  • home insurance(2)
  • costs(2)
  • liability(1)
  • general(1)
  • disaster(1)
  • tires(1)
  • owners(1)
  • damage(1)
  • person(1)
  • general liability(1)
  • maitenance(1)
  • business owners policy(1)
  • car(1)
  • general liability insurance(1)
  • requirements(1)
  • natural(1)
  • small(1)
  • flood(1)
  • missing(1)
  • replacing(1)
  • auto(1)
  • home(1)

View Mobile Version

Contact Us Today!
301-934-6010

Social Social

Resources

  • Products
  • Customer Service
  • Payment Options
  • Report a Claim
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us

Contact Us

6529 Crain Hwy
La Plata, MD 20646

P: 301-934-6010 | Fx: 240-523-8633 | info@johnspragueagency.com
© Copyright. All rights reserved. | Powered by Insurance Website Builder