In general, insurance is something that comes as a recommendation rather than something that’s essential. For example, you don’t technically need to buy car insurance if you have a car. You only need it if you’re going to drive that car. Likewise, home insurance is something that’s recommended for most people just in case something bad happens. 
So, what about life insurance? Is this something everyone needs, or can you comfortably live your life without it? 
Life Insurance
The whole purpose of life insurance is to provide your family with financial benefits in the event of your untimely death. You take out a policy, and they get a sum of money if you die. This can then be used to cover funeral costs and to just keep them in a good financial position when you’re gone. 
When you think about it like that, it looks like life insurance is a great option. However, the money your family gets doesn’t just spring out of nowhere. You’ve got to pay for your policy and continue contributing to it. A lot of people don’t like to do this as they feel their money could be better placed somewhere else or invested in something more valuable. 
Truthfully, figuring out if you need life insurance is as simple as asking yourself a couple of questions: 
Will My Family Be Financially Stable Without Me?
As mentioned earlier, life insurance can be used to help your family with their finances when you die. So, the big question is whether or not your family need this help. It may transpire that you’ve done very well with your financial planning and have lots of money tied up in assets/different investments. As such, if you die, your family have the means to take care of themselves already. Consequently, life insurance isn’t needed. 
On the other hand, you may see that your family won’t be financially stable. In which case, they need all the help they can get. As you’ll see on the Top Quote Life Insurance website, there are loads of companies out there offering life insurance. Some offer payouts in a lump sum, while others have policies where your loved ones get paid monthly. These monthly payments can be very beneficial if your family are dependent on your income to pay for things, as it helps them pay bills, etc. 
Does My Death Negatively Impact My Family’s Finances?
This question is similar to the first one, but there’s a slight difference. What we’re talking about here is if your death creates problems for your family, financially speaking. For example, do you have debts that need paying off? If so, then your death passes these debts onto your family, which negatively impacts their finances. 
Decide if your death will have consequences for your family finances and you will be able to figure out if life insurance is right for you. 
To conclude, we’ll ask one simple question; does everyone need life insurance? No, they don’t. It’s something that will only suit certain families, and these two questions will help you decide if it’s worth your time or not.

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