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  • 4 reasons you do not need life insurance!
the sunset in the background and a family of 4 playing outside
  • Almost everyone needs insurance – seriously!ย  **Almost** anyone…

    The 4 situations where insurance is not necessary are:

    ๐Ÿ. ๐‘ต๐’ ๐’๐’๐’† ๐’…๐’†๐’‘๐’†๐’๐’…๐’” ๐’๐’ ๐’š๐’๐’– ๐’‡๐’Š๐’๐’‚๐’๐’„๐’Š๐’‚๐’๐’๐’š.You do not have kids or other dependents that would have a tough time surviving financially if you were not around to help them.

    Grieving the loss of a parent is awful.ย  Leaving your family a bunch of money will never replace you, but them not having to worry about how to pay the mortgage and still being able to dream about going to university helps.

    ๐Ÿ. ๐’€๐’๐’– ๐’…๐’ ๐’๐’๐’• ๐’๐’˜๐’† ๐’‚๐’๐’š๐’๐’๐’† ๐’‚๐’๐’š๐’•๐’‰๐’Š๐’๐’ˆ. No debt? Lets goooo! Having a mortgage, line of credit or credit cards, or student loans is the most common reason for having life insurance.

    Unfortunately these things don’t just ‘go away’, the banks or lenders will come for their money and an insurance policy is a good way to make sure your surviving family does not have to sell your house, cabin or investments to come up with what they – or the CRA – are looking for.

    ๐Ÿ‘. ย ๐’€๐’๐’– ๐’…๐’ ๐’๐’๐’• ๐’‘๐’๐’‚๐’ ๐’๐’ ๐’‰๐’‚๐’—๐’Š๐’๐’ˆ ๐’Œ๐’Š๐’…๐’” ๐’‚๐’๐’… ๐’š๐’๐’– ๐’‚๐’“๐’† ๐’๐’๐’• ๐’˜๐’๐’“๐’“๐’Š๐’†๐’… ๐’‚๐’ƒ๐’๐’–๐’• ๐’š๐’๐’–๐’“ ๐’‘๐’‚๐’“๐’†๐’๐’•๐’” ๐’๐’“ ๐’๐’•๐’‰๐’†๐’“ ๐’‘๐’†๐’๐’‘๐’๐’† ๐’•๐’‰๐’‚๐’• ๐’‚๐’“๐’† ๐’๐’๐’…๐’†๐’“ ๐’•๐’‰๐’‚๐’ ๐’š๐’๐’– ๐’ˆ๐’†๐’•๐’•๐’Š๐’๐’ˆ ๐’”๐’Š๐’„๐’Œ ๐’‚๐’๐’… ๐’š๐’๐’– ๐’‰๐’‚๐’—๐’Š๐’๐’ˆ ๐’•๐’ ๐’•๐’‚๐’Œ๐’† ๐’„๐’‚๐’“๐’† ๐’๐’‡ ๐’•๐’‰๐’†๐’Ž.

    Even if you do not have insurance needs now, if you plan on it in the future and want to get one step ahead in your financial plan, buy some term insurance now.ย  Depending on how young you are, you can get a $500,000 insurance policy for 20 years for less than $20 per month.ย 

    Why would you do this, you ask?ย  If you got sick or were diagnosed with something five years later, right when you ‘need’ insurance, you would have a tough time getting coverage at a reasonable price.ย  Insurance is ALWAYS cheaper yesterday than it is today.

    ๐Ÿ’. ๐’€๐’๐’– ๐’…๐’ ๐’๐’๐’• ๐’˜๐’Š๐’”๐’‰ ๐’•๐’ ๐’๐’†๐’‚๐’—๐’† ๐’‚ ๐’๐’†๐’ˆ๐’‚๐’„๐’š ๐’–๐’‘๐’๐’ ๐’š๐’๐’–๐’“ ๐’…๐’†๐’‚๐’•๐’‰; no kids, no charities, churches or causes that are dear to your heart that you would want to be remembered for supporting.

    If you do not plan on having kids, your parents and other elders in your life are well off financially – you probably don’t need life insurance.ย  Life insurance can be used as a way to multiply the value of your estate though, so if you want to leave a million dollars to your church or favorite animal rescue charity, life insurance is a very cheap way to do it!ย 
    Questions? Lets hear ’em in the comments below ๐Ÿ™Œ
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