Is Life Insurance Necessary?

[Bisolami]

This question has always popped into my mind and this is why I'm asking everyone to know if truly life insurance is important or not. I am very sure that we all know what life insurance is. Life insurance is the money that they pay the family of the deceased after death or after a particular period.

Life insurance is very important especially when it has to do with the breadwinner of the family. Imagine that the breadwinner of a family dies without insuring his life. This means that he has nothing left for his family or his entire household.

It is also good to have life insurance so that whenever one dies the money paid by the insurance company will be enough or maybe enough to start a business for the family members and also to clear some debts on them.

I see having life insurance as a form of investment so that when the deceased is gone, his family members will have something to look up to. Even though the deceased will not benefit from his or her life insurance, it is very sure that the loved ones of the deceased maybe brothers, sisters, or children will benefit from it and it also means that you are trying to save up for your family even after your death.

 

[saoussen5765]

It is not limited to death. Some work incident let you fully unable to work especially the salary of partner will not be enough to feed all house needs this is why it is important but not limited to the death cause.

 

[Yusra]

Life insurance is an important part of your financial plan. It can help you protect your family and loved ones in case of your death. If you die, a life insurance policy will pay off the balance on a life insurance policy that you own. This can be used to pay off debts, cover funeral expenses and other debts in your name, or transfer to your heirs.

There are many reasons for buying life insurance:

1. Your current health is not good enough to take care of yourself and your family if something happens to you. You may have medical conditions that don't allow you to work as much as before or have been diagnosed with a terminal illness that requires constant medical attention.

2. You have children who will need support if something happens to you because they don't have their own income source yet. They may also need money for college or other educational expenses.

3. Your parents may be too old or frail to work anymore and need financial help from friends or family members who took care of them before they retired from their jobs."

 

[moonchild]

Life insurance can help to provide financial security for loved ones. If you have dependents, such as a spouse or children, the proceeds from a life insurance policy can be used to cover expenses such as funeral costs, outstanding debts, and ongoing living expenses. This can be especially important if you are the primary breadwinner in your household, as your death could result in a significant loss of income for your loved ones. A life insurance policy can help to replace this lost income and provide financial stability for your family.

Another reason to consider life insurance is to fund future goals. Whether you want to ensure that your loved ones have the resources they need to achieve a comfortable retirement or pay for a child's education, a life insurance policy with a longer term can help to make those goals a reality, so as you can see it is really crucial to have.

 

[saoussen5765]

Life insurance is an important part of your financial plan. It can help you protect your family and loved ones in case of your death. If you die, a life insurance policy will pay off the balance on a life insurance policy that you own. This can be used to pay off debts, cover funeral expenses and other debts in your name, or transfer to your heirs.

There are many reasons for buying life insurance:

1. Your current health is not good enough to take care of yourself and your family if something happens to you. You may have medical conditions that don't allow you to work as much as before or have been diagnosed with a terminal illness that requires constant medical attention.

2. You have children who will need support if something happens to you because they don't have their own income source yet. They may also need money for college or other educational expenses.

3. Your parents may be too old or frail to work anymore and need financial help from friends or family members who took care of them before they retired from their jobs."

Some parents give their children to his aunt to leave with it, especially if the other family has better financial situation.