Depending on your age, life insurance can help offset the final burial expenses and other bills when you pass on.
term life would be a good option.
It is also nice to leave something for loved ones
Life insurance is important because it helps protect your loved ones in the event that something terrible should happen to you. People get health insurance in case a medical emergency happens and they need help paying the bills. Life insurance is similar but instead of helping you out, it helps out your beneficiaries. For example, if you pass away suddenly then your wife or children can use your life insurance money to help cover your funeral expenses, pay the bills, etc. Without that life insurance, they may end up suffering financially.
Many people do wonder if the cost of life insurance is worth it. I think that it's possible to get cheap life insurance that still provides you with what you need financially. I've written a hub about how to make sure to avoid some of the traps of getting cheap life insurance so you can get good coverage without hassles:
http://hubpages.com/hub/Is-Cheap-Life-I … e-Worth-It
As I've explained in my hub on this topic:
"Looking at a life insurance quote the advantages may not initially seem worth the cost. But the reality goes beyond just the insured – often a deceased person leaves behind grieving family and friends who, in addition to having lost the deceased, have lost financial support. Life insurance’s primary goal is to take care of this loss of financial support."
by pinoyconnection 3 years ago
is life insurance worth it?
by Mrs Campbell 9 months ago
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by Kristin Trapp 5 years ago
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Is life insurance worth it?I am an expat in China who has been contacted by firms offering life insurance as a 'protection' for my family and I. Does anybody have any experience with them? A particular company that calls me from Shanghai claims that they use reputable companies from the UK. They...
by income-protection 6 years ago
You Know What is Term Life Insurance?
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