Life insurance is one of those things you never want to have to think about when you are young. Because you only need life insurance if you die, and buying life insurance means admitting you’re going to die. Therefore, those of you that are immortal can stop reading this.
But for everyone else (ie those of us who are going to die), chances are that even if you don’t need life insurance now, you will someday in the future. Life insurance helps provide money for your dependents and your spouse or significant other after you die so that they can continue to pay their bills and live the life style that they have been used to based on the income you are currently making.
Life insurance is also a way for you to give to any charities you may have supported while you were alive or may have wanted to support while you were alive. Life OOinsurance can go to almost anyone you designate, depending on the type of policy and how it was set up. So if you don’t like your family, it can go to someone else.
But you may think you do not need life insurance because you are going to live for a long long time. That’s not as true as you would like to think. Do you like to eat fatty foods? Cholesterol buildup leads to clogged arteries, which leads to heart attacks, which are also often fatal. It also leads to heart disease, which is a leading cause of death. Do you ever ride in a car? Car accidents are another major cause of death. So buck up buddy and get some life insurance to help out your family (or your favorite charity) because you don’t have long to live.