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Do you consider life insurance to be a necessity?

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AB Editor | 20:13 Fri 22nd Jan 2010 | Insurance
13 Answers
 

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Answers:

  • Yes, it provides breathing space to the grieving. - 8 votes
  • 57%
  • No, the money is better spent while you are alive. - 6 votes
  • 43%

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"provides breathing space"?
Dunno what kind of insurance AB Ed is considering, but all the policies I've come across provide money.
-- answer removed --
I'm sure my time will be up as soon as I cancel my life insurance!
sara3 – conversely, I take it you are sure you will continue to live, on the proviso that you keep paying the premiums?
A lot of this decision depends if you have any dependants who would be financially at risk if you died with debts.
yes Hymie, that's exactly how it works :o)
I have had no life insurance for the last 20 years since I paid my mortgage off.........my only child knows that she will get all my worldly goods and she's fine with that.....
As the father of two young children and the husband of a wife who doesn't have any personal income (we took the rather unfashionable view that our children would be better served by my wife giving up work and raising the children as opposed to farming them out to strangers), I think life insurance is an absolute necessity and should be considered a normal household bill the way one views gas, electricity, house insurance and council tax as regular household bills.

As a keen motorcyclist and scuba diver (not at the same time!) I felt it imperative to have - although were I not, I wolud still consider it a necessity.

The thought of leaving my wife to raise two small children without any financial safety net turns my blood cold.

Anybody with a family who doesn't have life insurance is irresponsible.
It's Life Assurance!
Do you have dependants ?
It makes a difference.
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Firms have started using the term insurance because presumably they think the public are used to it, but technically Insurance is against something that may happen, assurance is against something that will happen. That was what I was taught in my LATC years ago, (Life assurance Technical certifiicate)

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