Disadvantages of not getting a life insurance

[Augusta]

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?

 

[niche]

Yes, there are many disadvantages of not taking life insurance if a person is the main bread winner and has a family or other dependents without a source of income. However, if a person does not have anyone who is financially dependent they can choose other investment options which are giving a better return on the investment.