Is Life Insurance Really Worth It?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Life insurance can pay hundreds of thousands of dollars of benefits to the beneficiary after the policyholder has paid in premiums for only a few years, months, or even days. There is no way for most people to save up that amount of protection by the time it might possibly be needed. If death occurs unusually early or unexpectedly, life insurance is definitely worth it. If not, some people still feel it was worth the peace of mind. And if you have permanent life insurance, you eventually get back all you paid in plus some extra in the form of cash value.
    Answered on January 17, 2014
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  2. 11783 POINTS
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Is Life Insurance really worth it?  That depends entirely on the individual involved. For some the idea of protecting their family if they don't make it home some night is worth a great deal. For others not so much, as it depends on your relationships in life.  Even as single young man, I bought life insurance. Why? cause it was "worth" it to me to make sure that my mom could deal with the clean up of the mess I left behind without having to spend the money she worked hard for herself.  It was "worth" it to me to make a terrible situation that my mom might have to face not a financial hardship at the same time.  Later on, it was "worth" it to me to have coverage for my wife and kids.   This is really a personal answer for each person. I can't tell anybody why it's worth it to them, that has to be their own choice.
    Answered on January 19, 2014
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  3. 1976 POINTS
    Ronald Hinch
    Regional Marketing Director, Capital Choice Financial Group,
    Absolutely!  Life insurance is important to all who have someone or a family depending on them for income.  A life insurance policy should cover debt balances including mortgage, income replacement, and college funding for the kids.  Term insurance is the most economical way to provide enough protection to cover these needs.  As time goes on and debts are eliminated and assets are growing the need for life insurance protection decreases.
    Answered on January 24, 2014
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