WFG: Life Insurance Has Benefits for Single Adults

While life insurance is sometimes regarded as being for married couples and families only, many experts say that life insurance is also beneficial for singles—and WFG agrees.

News provided by

World Financial Group

Oct 02, 2012, 06:00 ET

NEW YORK, Oct. 2, 2012 /PRNewswire/ -- Life insurance is often considered to be something that is advantageous for married couples and for families, but not especially useful for single adults. According to a recent press release from the Insurance Information Institute, however, this way of thinking might be inaccurate. A non-profit organization, the I.I.I. argues that insurance is a vital consideration among singles—and that life insurance, in particular, can offer myriad benefits. This claim has won the attention of World Financial Group, or WFG. WFG has responded with a press statement of its own, affirming the important role that life insurance can play, even in the lives of singles.

WFG is a North American company that provides a number of services to clients all over the United States and Canada. These services include educational and advisory services that pertain to college tuition planning, small business development, retirement saving, and more. WFG is particularly zealous for the cause of life insurance.

"For singles, life insurance is a wonderful way to ensure those financially dependent on you will be covered if something happened to you," says WFG in its new press statement. "For those without dependents, life insurance can still serve the purpose of ensuring the final expenditures are taken care of."

According to the I.I.I., life insurance is especially important for singles who have children. The organization notes that, in the event of a tragic accident, life insurance can ensure that a child is taken care of and provided for, no matter what. Life insurance money can be used, by a guardian, to cover for childcare, educational expenses, and more.

The I.I.I. also notes that life insurance funds can go toward paying off "final expenses." Indeed, funeral bills and even hospital expenses are often left behind, and the deceased's family members may end up having to foot the bill. Life insurance can minimize this financial burden.

Additionally, charitable contributions are mentioned as a possible way in which life insurance funds can be dispersed. A single adult might bequeath a portion of his or her life insurance money to a charitable organization or non-profit group.

The I.I.I. says that the issue of life insurance among single adults is a pressing one. As of 2011, roughly 33 million people lived alone in the United States. Of this single population, 53 percent were women.

WFG is a company that is passionate about life insurance. The company is devoted to making information about life insurance accessible to its clients throughout the U.S. and Canada. WFG believes that education is empowering, and as such it seeks to provide accurate life insurance information to all of its customers.

ABOUT:

World Financial Group (WFG) is a North American company that employs financial professionals across the U.S. and Canada. The company is devoted to providing services to corporate and individual clients alike, including retirement planning, college planning, and advisory services to small and mid-sized businesses. WFG is also zealous about life insurance, and provides individuals and families with empowering information about the different life insurance options that exist.

SOURCE World Financial Group