Life insurance is a valuable tool for individuals who need some form of protection for themselves and their families in the event of their demise. There are those, however, who don’t really need a life insurance policy. Although skipping life insurance may not be the best idea, there are instances where a person can live comfortably without buying a life insurance policy.
Not Everyone Needs a Life Insurance Policy
If you are a successful planner and work hard to pay off all of your existing debts and take care of your final expenses before you pass away, there is no real need to purchase a life insurance policy. You can always buy a policy that will allow you to leave your family a small amount of money, but that would be a personal choice, not a necessity. Likewise, if you have very little debt and are efficient at managing your money, you may not have to worry about purchasing a life insurance policy.
People who are financially secure and have all the wealth and assets they need do not have to worry about buying a life insurance policy as they already have the resources required to cover their final expenses when they pass away.
Who Needs a Life Insurance Policy?
While there are people who don’t need a life insurance policy, there are others who have families and mortgages that must be taken care of even when they are not around. Such individuals will benefit immensely from a life insurance policy.
When you have questions about life insurance, contact our experts at Steve Wilk Insurance Agency. You can also visit our new office at 310 S Main Street, Suite C, Lombard, IL 60148.