Benefits of Life Insurance for People Without Children

Life insurance is often thought of as a vehicle to protect families with young children in the event that a parent dies unexpectedly. While this is a key benefit for life insurance, there are still benefits for people without children. If you are in the greater Burlington, NC and would like to gain a greater understanding of the many benefits of life insurance, the team at Don Allred Insurance is here to help. We find that there are a variety of ways that childless people can benefit from having a life insurance policy.

3 Ways Childless People Can Benefit from Life Insurance

1. Whether you have children or not, you will still have burial and end-of-life expenses. With an appropriate policy, you can make sure that your expenses are covered. If you have property or a pet that will need to be cared for after your death, a life insurance policy can make sure that your estate doesn’t become a burden during the probate period.
2. There are several types of life insurance that provide a living benefit, whether it be as an investment or as a way to minimize taxes. Your local agent can review the financial benefits of policies such as whole life, universal, and variable to discover which option is right for your goals.
3. Many childless people become close to nieces and nephews and would like to leave money to them. Life insurance is an effective way to bequeath money to a person or a charitable institution without them incurring a tax liability.

Interested in finding out more? If you are Burlington, NC or the surrounding area, contact Don Allred Insurance today and learn about the benefits of life insurance, whether you have children or not. We look forward to working with you!