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Do You Really Need Life Insurance?

If you want to make provisions for the welfare of your loved ones after your death but find the subject of life insurance confusing or intimidating, read on. It’s easier to understand than you think, and the rewards can be substantial.

The ability to earn an income can be considered your family’s most valuable asset because your income allows you to obtain other assets, particularly the necessities of life and, of course, the comforts. However, as we know, the ability to earn an income is not guaranteed. Yet, the need for income may continue for those who were financially dependent upon you. Consequently, your need for life insurance and the amount will depend upon your personal and financial circumstances. If any of the following statements apply to you, you probably do need to consider life insurance:

  • You have a spouse
  • You have dependent children
  • You have an aging parent or disabled relative who depends on you for support
  • You have another loved one that you wish to provide for
  • You have business or estate planning needs that life insurance can satisfy
  • Your retirement pension and savings are not enough to insure your lived ones’ futures against a rising cost of living
  • You have desire to leave money to a favorite charitable organization
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