If you are single, there’s a very good chance you might not have thought about life insurance. However, there are some big reasons why you should probably reconsider.

The first reason is quite obvious; funeral expenses. Funerals are expensive, sometimes ranging above $10,000. While you might be fortunate enough to have enough to cover those expenses in the event of an accident, it never hurts to have something dedicated to specifically covering the cost of a funeral. You don’t want your loved ones suddenly scrambling to try and get enough money together to pay for an unexpected funeral.

If you have already pre-purchased a funeral plan or have funeral expenses covered in some other way, the funds from life insurance can still go to other things.

Another big thing that life insurance can help cover is any outstanding debt. Typically, any debts you owe when you die are paid from your estate before you can hand it off to your heirs. If you want to hand the entirety of your estate off to your heirs then life insurance can help make sure that happens. Having the ability to pay off your debts with outside sources of money lets you be sure that your estate goes to who it belongs.

Something important to look at is your health. While you currently are in good health, no one knows what may happen down the line. If your health deteriorates, you might not be able to get life insurance. Life insurance companies prefer giving lower rates to young healthy people versus the rates they provide people when they are older or in poor health. Locking in a cheaper policy now is more beneficial than waiting till later in life when you risk high rates or being declined.

As a young professional, you might have coverage through work. While this is not a bad thing, usually there are issues with this coverage that aren’t completely apparent. For starters, coverage through work might not be enough to cover your expenses. If you take out a mortgage for your first home, you won’t be able to pay for it with your work’s $25,000 policy. Having your own life insurance that you can customize and adapt to your living situation is always something that is good to have.

For many young adults, life insurance is far from their minds. It is something that only their parents have to worry about. However, taking out life insurance early is never a bad idea. You never know where your life might take you. You could find love, purchase a home, or start a family. Knowing that you had the forethought to purchase life insurance before you needed it will help you stay confident no matter what may come your way.