I'm young and single. Do I really need life insurance?

No. Unless you're providing financial assistance to a family member - an old parent or a dependent sibling - don't waste your dough. "Most single people don't need life insurance because no one is relying on their income," says attorney and financial advisor Gary Schatsky, president of Objectiveadvice.com. Instead, make sure you have long-term disability insurance. This coverage will safeguard you if an injury or chronic illness prevents you from working. The odds of that happening are surprisingly high - A 20-year-old worker has a three in 10 chance of becoming disabled before reaching retirement age. Schatsky recommends contacting a financial advisor to discuss which coverage would be best for you.


Related Article

Latest Ask The Experts Stories


Subscribe now to receive the latest Men's Health news, articles and promotions straight to your inbox!
By signing up, you indicate that you have read and agreed to the and


October Issue

Subscribe to Men's Health for 1 year (12 print issues) and enjoy 20% off!


Tara Promotion
Win an O2 Oxy Diamond Glow Treatment (90min) worth $380!
Pomi-T Promotion
Win 60 capsules of Pomi-T worth $49.90!
Men's Health 12th Birthday Special Giveaway
Win suite stays and other prizes from Chatrium Hotel Riverside, Bangkok worth more than $13,000!

Social Wire