Something that has been nagging at me lately.
Let's take a person:
- 30 years old, US, non smoker, no significant medical problems
- No debt (of any kind, mortgage, student, or credit card)
- No plans to initiate any kind of debt in the next few years
- No known current dependents (spouse, children, parents)
- No plans to initiate dependent in the next few years
- Enough estate money to cover funeral expenses
Is there any benefit to carrying modest to significant life insurance coverage similar to what an individual with children, a spouse, or parents requiring caretaking might hold?
Would picking up insurance now, convey any sort of benefits to any policy said person might eventually get when it would normally make sense (dependents), when they are older (say 50+ etc.), or have large debt in the estate?