Truth: Life insurance is crucial to ensure your personal financial independence throughout your life. You don’t need to have kids to consider empowering yourself in this way!
Likewise, it’s important to ensure a peace of mind for yourself and the other people in your life, which could include a spouse, an ex-spouse, life partner, dependent parents or siblings, or even employees or a business partner.
The idea is that insurance will smooth the way for loved ones when it comes to the costs of final expenses, debt commitments, planned educational expenses and lost income. This is why life insurance is crucial for the bread winner of a single-income household, just as it is important for a stay-at-home spouse.
Even if you don’t have dependents, insurance is a good way to ensure that you will have retirement funds and that all your needs are looked after in old age.