When most people think of life insurance, they think of coverage that provides financially for a bereaved spouse and children after the policyholder’s demise. While this perception is certainly accurate, there is more to life insurance coverage than caring for the needs of close family members. Singles in and around the Bronx, NY can also benefit from life insurance and all that it has to offer.

Financial Protection

Life insurance covers burial costs so that your funeral expenses don’t fall on your relatives or close friends. This can alleviate a lot of stress and heartache for loved ones who are mourning your passing.

Life insurance also provides money to pay off co-signed debts. If you co-signed a loan with someone for any reason, purchasing coverage ensures that the other party doesn’t have to struggle with paying back the full amount.

Investment Purposes

Life insurance isn’t just about paying expenses. Some policies actually earn cash value over time. What’s more, the cash value grows tax-free, which enables you to keep more of your hard-earned cash than other investment options. You can withdraw some funds occasionally as needed or cash out the entire policy if you need a lump sum to buy a home, pay off a debt, or retire. 

Need More Information? L M Insurance & Financial Services, LLC is Here to Help

Not all Bronx, NY singles need or can benefit from a life insurance policy, but many can. If you aren’t sure if such a policy is a good fit for you, give our team at L M Insurance & Financial Services, LLC a call at your convenience to discuss your financial situation and long-term goals. If you find life insurance is a good choice for you, we’ll help you review the policy options to select coverage that meets your current and long-term needs.