The amount of life insurance coverage you need depends on various factors, including your current income, outstanding debts, future financial obligations (such as mortgage payments or college tuition), and your family's financial needs in the event of your passing. A general rule of thumb is to aim for coverage that is 5-10 times your annual income, but it's best to consult with a financial advisor who can assess your specific situation and recommend an appropriate amount of coverage.

Term life insurance provides coverage for a specific period, typically 10, 20, or 30 years, and pays out a death benefit if you die during the term of the policy. Whole life insurance, on the other hand, provides coverage for your entire life and includes a cash value component that grows over time. While term life insurance is generally more affordable and straightforward, whole life insurance offers lifelong coverage and the opportunity to build cash value that can be accessed during your lifetime.

Yes, it's possible to obtain life insurance coverage even if you have pre-existing health conditions. However, the availability of coverage and the cost of premiums may vary depending on the severity of your condition and other factors such as your age and overall health. In some cases, you may need to undergo a medical exam or provide medical records as part of the underwriting process. Working with an experienced insurance agent can help you navigate your options and find a policy that meets your needs.

Yes, even without dependents, life insurance offers valuable benefits. It can cover final expenses, like funeral costs and debts, easing the burden on loved ones. Some policies also offer living benefits, such as cash value accumulation and financial flexibility through loans or withdrawals. Buying young ensures lower premiums and future coverage regardless of changes. In short, life insurance provides peace of mind and financial security, making it a worthwhile investment for singles too.