More Americans are living alone than ever before, according to a report by the U.S. Census Bureau: The proportion of one-person households increased by 10 percentage points between 1970 and 2012, from 17 percent to 27 percent—55 percent of these headed by women. Sixty-two percent of unmarried U.S. residents 18 and older in 2012 had never been married, 24 percent were divorced, and 14 percent were widowed.

To serve this customer niche, independent agents need to act as trusted advisors, taking the time to review their assets and their current insurance coverages to ensure they're fully protected.

The Insurance Information Institute has developed a checklist of ways to make sure singles are fully protected. Click through the following pages to learn how.

1. Life Insurance

There were 13.6 million unmarried parents living with children in 2011, according to census numbers. Life insurance should be a key element of this customer's financial plan to ensure that dependents will be financially secure in the event of death. Even customers without children can benefit from life insurance as a way to finance final expenses or leave money to a favorite charity. Whole life or permanent life policies create a cash value that, if not paid out as a death benefit, can be borrowed against or withdrawn. And if a customer is single due to divorce or the death of a spouse, he or she may have a life insurance policy with an outdated beneficiary designation, so be sure to advise the customer to make the appropriate policy adjustments.

2. Disability Coverage

Singles sometimes don't think about what would happen if they were unable to work because of accident or illness. And because 43 percent of all people over age 40 will have a long-term (more than 90 days) disability event by age 65, disability income insurance is a must. Although many employers offer disability coverage, some smaller businesses may not, so encourage your single customers to consider a private disability policy, which will replace 50 to 70 percent of their income.

Read related: “Excessive? Hardly.”

3. Long-term Care

Although the good news is that people are living longer, this also makes it more likely that they'll eventually need long-term care services—which can be expensive. Singles living alone without the financial resources to pay for home health care, a nursing home or an assisted living facility should consider long-term care insurance. In general, this coverage is more affordable before the buyer turns 60; there is less chance that they will be rejected, and premiums are lower the younger they are.

4. Homeowners and Renters Insurance

Singles are somewhat more likely to rent than own their home; around 20 percent of owner-occupied homes are one-person households, while almost 40 percent of rental households are occupied by singles, according to the Census Bureau. Because the landlord's insurance only covers the cost of repairing the building itself in the event of a fire or other disaster, these singles need renters insurance to financially protect themselves and their belongings.

Whether they're in a house, condo or co-op apartment, singles need the right amount and type of insurance. Although homeowners insurance covers the house's structure, personal belongings, liability and additional living expenses, residents of condos or co-ops need two separate policies: their individual insurance policy, which covers personal possessions, liability and structural improvements to the building, and a “master policy” provided by the condo/co-op board. The latter covers the common areas that are shared in the building, such as the roof, basement, elevator, boiler and walkways, for both liability and physical damage.

Read related: “The Condo Conundrum.”

5. Auto Insurance

Singles who are recently divorced should notify their auto insurer of a change in ownership or designated driver for any cars that were previously jointly owned. Changes of residence also need to be reported immediately, and if either divorced spouse buys a new car, they should arrange for a new auto policy before the car is registered. Removing a former spouse or partner from the insurance policy also protects your client from possible liability if he or she is involved in an accident and gets sued. Advise singles that they can often save money by buying auto and homeowners or renters insurance from the same insurer.

6. Retirement Income

Singles need to be more self-reliant when it comes to investing for retirement. Although most people will qualify for Social Security retirement income, the amount is usually not enough to pay for more than the bare necessities in retirement. Some will have retirement income from a “defined benefit” type of pension plan that pays an income based on their final income and years of service from an employer. Social Security income increases to match inflation, but defined benefit payments do not, so they will become increasingly inadequate the longer a person lives in retirement.

Singles with an employer-provided 401(k)-type plan should contribute the maximum they can afford, especially if the employer matches contributions. Those without employer retirement plans can start their own tax-favored retirement savings plan. Upon retirement, customers may want to consider using some of their retirement funds to buy an annuity, which pays an income for the rest of their life.

Read related: “Pants on Fire.”

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6 Tips for Marketing to Singles: Slideshow

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