A lot of times we are bombarded with the reasons to get life insurance especially the whole life insurance because of the benefits, mostly from the insurance company but they forget to talk about the disadvantages of not getting since they are more about promotional ads.
But the thing is that you would be doing a disservice to people you leave behind especially your loved ones if you do not get a life insurance in place
The disadvantages of not getting a life insurance includesL
Leaving your family with the worries of getting the money to give you a benefitting burial. The expenses for burial most is very high
Financial burden on the family: When there's unbearable financial burden they might arise financial crisis which might be difficult for the family to handle
Debt for your family:
If you were the breadwinner, then you would be leaving your family in debt. They might have to borrow for the first few months of your demise to bury you. it is never easy especially for a young family with very young children.
Dependent on others :
This is another disadvantage that you might be having for not having a life Insurance in place. you might just leave your family at the mercy of others financially.
What's your thoughts?
But the thing is that you would be doing a disservice to people you leave behind especially your loved ones if you do not get a life insurance in place
The disadvantages of not getting a life insurance includesL
Leaving your family with the worries of getting the money to give you a benefitting burial. The expenses for burial most is very high
Financial burden on the family: When there's unbearable financial burden they might arise financial crisis which might be difficult for the family to handle
Debt for your family:
If you were the breadwinner, then you would be leaving your family in debt. They might have to borrow for the first few months of your demise to bury you. it is never easy especially for a young family with very young children.
Dependent on others :
This is another disadvantage that you might be having for not having a life Insurance in place. you might just leave your family at the mercy of others financially.
What's your thoughts?