Insurance is an expense that you are likely to ignore even when there is a demonstrated need for it. It is possible then that you may overlook circumstances where the need for protection is not immediately apparent, but the financial consequences of not taking adequate cover is likely to be severe.
Here are a few common situations where some people may believe that they do not need insurance. However, they would see the need for buying insurance if they think it through.
I don’t have dependents
The purpose of life insurance is to provide protection against the loss of income, in the event of your death, to those dependent on it. This would make it seem that life insurance an avoidable expense if you do not have any dependents. However, consider a few of these situations before you decide that your death may not have any financial consequences for others.
