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Why Do I Need Life Insurance?

Home Forums Financial Security Why Do I Need Life Insurance?

This topic contains 1 reply, has 2 voices, and was last updated by  Anonymous 4 years, 11 months ago.

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  • #12184 Reply

    Sam
    Participant

    So my new workplace is offering life insurance as part of its benefits. I never really considered buying life insurance, but they seem to think it’s important. They do not cover any of the cost, so far as I can tell, so I am not sure it’s worth the money. Let’s be honest, in this economy I do not really have a lot of cash. So what are the benefits? Do I really need life insurance. It seems expensive for money I will not ever see! Can anyone advise?

  • #12300 Reply

    Anonymous

    Thanks for the question Sam.

    Here are some questions to ask yourself. If you answer yes to any of them, you probably want to seriously consider buying life insurance.

    1. Do you have loved ones you would leave behind who are dependent on you financially or will be (children, parents, etc.)?
    2. Do you have any outstanding debts, including a mortgage, loans, etc. that would fall to your loved ones to complete payment on after you are gone?
    3. Do you work in a high-risk job where the chances are high for death? For example, a skydiving instructor has a higher death risk than a life insurance agent.

    We recently wrote an article on why you might want to consider buying life insurance that has some good tips, information, etc. It’s a quick read and would probably be very helpful in helping you make a good decision too.

    Keep us posted!

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