When Isn’t Life Insurance Worth It?

Depending on where you are in life, you should decide whether or not life insurance is worthwhile. If, for example, you have two small children and a mortgage, you would likely decide that life insurance is worthwhile if the lump sum would allow your family to maintain their standard of living after your passing.

Then again, perhaps your mortgage has already been paid off. Perhaps you never had one in the first place. Life insurance might not be the best choice for you if you don't have many significant assets or dependents on your income, or if the cost is an issue.

It's important to note that life insurance is just the beginning of the topic. Other solutions might be a better fit and more cost-effective safety net for those without assets or financial dependents.

If you are ever out of work for an extended period of time, income protection, for instance, keeps paying a sizable portion of your salaries, so you won't have to worry about lowering your lifestyle, your property, or your assets should your health deteriorate.

To help readers navigate some of life's most challenging choices, Novel. News & World Report ranks the Best Hospitals, Best Schools, and Best Vehicles.

This same unbiased methodology is used by our 360 Reviews team to evaluate insurance firms and agencies.

Samples, gifts, or loans of the goods or services we assess are not kept by the team. We also have a distinct business team that works independently of our methods and recommendations.

All of the information, content, and materials made available on this website are just for general informational purposes and are not intended to be, nor does it represent, legal advice.
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