Partner, Waterway Financial Group, Myrtle Beach, SC
The main purpose for life insurance is to create a leveraged cash benefit when the insured passes. The proceeds can be used for simple burial, settling an estate, used in a buy/sell agreement among business owners, and many other purposes.
Specialist, LTCi, DI, Annuities, Life, Designs In Life, LLC, Utah
Why should you buy life insurance? Maybe you shouldn't.
If no one depends on you for income, if you will have no final expenses to bury or cremate you, if you don't care about the person that might be stuck paying off your debt, then, don't buy life insurance. Also, people that do not believe in insurance shouldn't buy it. In spite of the fact that owning an insurance policy is not a religious commitment, buying it might disrupt their value system and enrich an already wealthy insurance agent or insurance company.
On the other hand, if you do care about anything other than yourself at all, you should consider buying it. Even a small face amount of life insurance is better than having none. It might provide you with some peace of mind as the gurney you are bleeding to death on is being rolled into the surgical unit.
I recommend you contact an independent agent who can offer many options for a Life Insurance policy. They can help you determine if purchasing a policy is justified based on your individual needs. If it is recommended/determined that you purchase a policy, having this conversation can also determine what type of policy will best suit your specific needs...
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If no one depends on you for income, if you will have no final expenses to bury or cremate you, if you don't care about the person that might be stuck paying off your debt, then, don't buy life insurance. Also, people that do not believe in insurance shouldn't buy it. In spite of the fact that owning an insurance policy is not a religious commitment, buying it might disrupt their value system and enrich an already wealthy insurance agent or insurance company.
On the other hand, if you do care about anything other than yourself at all, you should consider buying it. Even a small face amount of life insurance is better than having none. It might provide you with some peace of mind as the gurney you are bleeding to death on is being rolled into the surgical unit.