Do we really need Life Insurance?
At least once in every person's life, I believe, a Tita, Tito, or family friend has sold them or tried selling them LIFE INSURANCE.
You know that friend. Every so often, they greet you on your birthday. They smile at you in the office, as if you're the friend who has all the answers to their questions. Then you ask yourself, why don't they stop hounding me when I already told them that I don't need and I don't want what they're selling. Life Insurance, who really needs them? I don't plan on dying anytime soon. -- If you're one of these people, I have the answer to your question!
READ ON!
I definitely agree with you. None of us want to pass on anytime soon. Especially when we consider all the things we all live for. We have people and family who love us.
We provide for them. We also have tons of responsibilities that we are paying for, like the mortgage, the tuition, family support, etc.
For married people with kids, we have a whole family to support. If something happens to us, our spouses will be left alone to tend to the kids emotionally and financially. It will be very difficult with one income less.
For single people who are breadwinners, their family's survival is on the line. The story is all the same. If they pass on, the family will most likely plummet into poverty.
Insurance is actually not entirely an instrument for financial freedom but rather, it is an instrument of 'financial love' and 'financial affection'.
We buy life insurance because of our loved ones. We don't want them to lose us because they need us. But IF they lose us still, through LIFE INSURANCE, we can still express our LOVE to them by PROVIDING for them still, even when we are gone.
When I get to meet my maker earlier than expected, my life insurance can pick-up where we left off financially.
There are a myriad of uses, from income replacement, mortgage redemption, tuition continuity support, critical illness benefit, cleanup fund, and estate tax assistance. When we learn about it more, we can get to appreciate our Titos and Tita's persistency in talking to us.
Turns out, they are there to help us.
As for people, who believe that they are without responsibilities, well, it's a different story. Unless they don't plan to have a family or want to have loved ones in the future, they don't need insurance.
Unless you're immortal, you may still need it.
Hey, even Superman made a mistake in not getting one. Until Doomsday killed him. Poor Lois.
