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Do I need life insurance?
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I have chosen not to have life insurance.
It’s the one sort of insurance you personally can never benefit from ( as by definition you will not be there to benefit from it) but only your beneficiary will get anything from it.
While people chose to have it so their family are protected , it is not an insurance that helps the insured in any way only their beneficiaries, and if you want to leave anything to your family is a personal choice.
Therefore it is not something I would ever contemplate.
I have health insurance, house insurance and car insurance that is it. The former two because they may pay a benefit to me , the later because it is legally required,
And rightly so.
It certainly took the pressure off my SIL when my brother died being able to pay the mortgage off and keep a roof over her head and their children.
Being bereaved is bad enough but having to worry about finances on top of it is awful.0
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