December 7, 2021




Is life Insurance really needful in my Life.

Life insurance in very important in every individuals life, as it guarantees the accomplishments of all your future plans on earth whether you are dead or still a life.

Most people take life insurance as very expensive and don’t want to go there, but to be frank it’s more harmful staying back than getting your self involved, life insurance can go far in you and your family life’s property security and Lot’s more.

Insurance. We don’t need it until we do.

Most people don’t want to waste the money, I know that’s how I thought of it. If you outlive your life insurance, that’s essentially what will happen.

Let’s say you pay $30/mo for a 20yr term life insurance policy and live to see the end of it, you’ll have paid $7,200 and nothing to show for it.

This is why a lot of Millennials forgot life insurance and rely on group policies provided by their employer or other entity.

Is always good and better for individuals and family to involve themselves and register for life insurance. In your life now if you are covered with life insurance it’s a big win for you as what ever good plans you have made will surely come true even if you are no more.

The problem with this is those group policies provided by the employer are often far less from what families actually need. Most offer one years’ worth of death benefits, while others might offer a straight $100,000 to the beneficiary.

But, what happens after that year is up? Or after the death benefit runs out? You might leave your unfortunate husband to sell the house, move in with his parents and struggle to make ends meet which will be so embarrassing and full of regret.

Now let’s talk about how to determine whether or not you need life insurance.

Are you a care taker of an adult parent or other dependent?
• Do you have a family that solemnly depend on your income?
• Do you want live the legacy of gift money upon your death?
• Will your death be a big burden of financial regret to your family?
• Would you be living a big debt that your spouse can’t be able to pay for even after you?

Think about these above points, depending on whom you are and the answer you feel to be fit to these questions will tell you clearly whether you need a life insurance or not.

Reasons why you need life insurance.

Kids can be expensive and there’s really no way around that.

If you died, your other half would have to fork up the money to pay for things like childcare (because he is now a single parent that still needs to work), clothing, food, diapers, schooling (yes, even grade school requires money), gifts (for birthdays), and college to name a few it’s so many.

Here are most of the things you likely need to consider before taking decision about life insurance.

1. Those who have minor children.
2. Those that are married.
3. If you support a disabled adult.
4. You want to cover the funeral expenses
5. You want to leave a gift behind.
6. For those who are business owners/partners.

Reasons You Don’t Need Life Insurance
These are the reasons some people may not need life insurance.

1. You and your spouse have accumulated enough assets to independently care for yourselves and children.
2. Your children are self-sufficient adults.
3. If you have enough assets to leave behind for funeral costs and no one that depends on you.
So, what do you think? Do you need life insurance?

Let’s say, all your debt is paid off, you have your kids’ college fully funded, you have enough cash to leave behind to cover funeral expenses and have invested enough to leave behind a steady income for your loved ones.
If you want to leave a legacy, a trust fund, a gift to your loved ones or a charity, then perhaps purchasing a life insurance policy is for you.

I my self I am a student and don’t really have much money in pocket, but I always afford to pay the little I could in for life insurance.

Are your children grown adults and can care for themselves? You don’t have any dependant, you are buoyantly balanced with your income, if so  Since you no longer have people that depend on your income, then you may forget the life insurance. But if the reverse is the case you perfectly need life insurance.

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