You CAN do without life insurance
Is your life insurance a necessity that must be paid for by any means? I really don’t think so. I know some people think of a life insurance as an absolute necessity. But believe me, it is not always a good thing to have. Especially if you are past your prime — that would be around the age of 70 and above. If you can afford it, life insurance is a great idea and allows us to help provide for those we love. But in case of people who are retired, the rules change a bit.
You insure yourself to ensure that your family gets some form of income even after your income has stopped. But in the case of a retired person, his/her income comes from Social Security, savings and possibly a pension. So, it is safe to assume that the death of this person will not affect the standard of living of his survivors. In such a scenario, you really don’t need a policy that is milking you dry.
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July 24th, 2006 at 6:25 am
I don’t understand much about life insurance. But I know in the west it is an important thing . I agree with you. They have given enough to the country and family. If not now then when they are going to get a relaxed time. It’s time to get something .