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It’s no secret that most Americans are usually looking for ways to save as much money as they can on life’s necessities. Bargain shopping for your everyday needs, like food, clothing, transportation and housing is something everyone should be doing. Paying less money for the things you need means you’ll have a nice surplus to spend on the things that you want.

Naturally, there are times when you may wonder if you can cut corners on something and the answer may not be clear cut. Could you save money by not carrying any type of car insurance? Sure, but you’d be breaking the law. How about going without a life insurance policy? That would definitely save you some money, but would it be worth it?

The following people should be carrying a decent life insurance policy, without question, because people depend on them financially:

Married couples – If you’re married and don’t have any kids yet, it does not excuse you from getting life insurance. Most married people depend on each other financially, at least to some degree. If your spouse died tomorrow, think about how you would make out paying every single one of your bills on your own. The same would be true for your spouse if you passed away.

Couples with kids – As soon as you and your significant other decide to start a family, you must have life insurance policies for both parents, preferably before you even become pregnant. By insuring yourself now, you’ll be guaranteeing your kids a sound financial future – at least until they’re old enough to make their own money.

Single parents – Admittedly, money is most often tightest for this group of people. Attempting to survive and thrive with kids and only one income can be extremely tough. Even though it’s understandable that life insurance may not be a priority for you, it really needs to be. If something happens to you (especially if the other parent is not in the picture in any capacity) – what would happen to your children if you don’t provide for them?

Stay at home moms (and dads) – It can be easy to assume that if you don’t draw an income from a job, that your monetary contribution to the household is a big, fat Zero. That line of thinking is faulty, because if you passed away, the cost of caring for your children every day would come out of your spouse’s income. S/he may also have to pay for more than just childcare expenses – in the form of house care, cooking and transportation of the children. You may not realize it, but you do make a financial contribution even if you don’t work in the traditional sense.

There are other people who also need to consider life insurance. Amarillo, TX retirees should consider their heirs and the potential costs they’ll face, like funeral costs and estate taxes. Business owners can protect their co-owners with a life insurance policy! Even singles need to think about Amarillo insurance, especially if they care for someone even though they aren’t married. Applying for life insurance in Amarillo is easiest when you’re young and single, so it makes sense to at least get a minimum of coverage as early as possible.