Does a Single Person Need Life Insurance?

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Yes, If Planning for a Future with Dependents

  • Future Planning: Young single individuals who anticipate having dependents should consider life insurance. This proactive approach ensures that future children or spouses are financially secure.
  • Example: A 25-year-old plans to start a family in the next 5 years. Purchasing life insurance now could mean lower premiums and securing a policy while in good health.

No, If Older with No Dependents

  • Lack of Financial Burden: Older individuals without dependents or plans to have them may not need life insurance. The primary purpose of life insurance is to provide for dependents after their death.
  • Example: A 50-year-old single person with no children and no plans for a family might not benefit from life insurance.

Yes, If You Have Debts

  • Debt Coverage: Individuals with debts that could burden others after their death should consider life insurance. This includes mortgages, personal loans, or other financial obligations.
  • Example: A single person with a substantial mortgage might choose life insurance to ensure the debt is not passed on to family members.

Life Insurance Considerations for Single Individuals

Age GroupFuture DependentsExisting DebtsLife Insurance Need
Young (20s-30s)PlannedYes/NoHighly Recommended
Middle-Aged (40s-50s)None PlannedYes/NoDepends on Debt and Personal Wishes
Senior (60s and above)NoneYes/NoOptional, Consider Health and Financial Stability


Whether a single person needs life insurance depends on their age, future plans for dependents, and existing debts. Young individuals planning for a family and those with significant debts are advised to consider life insurance. In contrast, older singles with no dependent plans and minimal debts might not need it. This guide aims to clarify life insurance needs for single individuals, ensuring they make informed decisions about their financial future.

Contact us today for a free quote.

Request A Quote

Get help or a quote from a licensed financial professional. This service is free of charge.

Contact Us

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

Scroll to Top