Life Insurance

Let’s talk about life insurance. Preparing for the unexpected is another important factor in portfolio planning. If you have a family and you or your spouse passes away, will the family be adequately protected against the loss? Who will pay the mortgage? How will the funeral be paid for?

Simple question, do I need to buy life insurance if I do not have the dependents? That means you do not have spouse, children and parents. The answer is “NO”. You do not need a life insurance if no one is financially dependent on you. Even if you have family and they do not financially dependent on you. You do “NOT” need to buy life insurance. Sometimes, I just really upset for those who buy life insurance just for the sake of supporting their friends to meet their insurance sales quota.

In summary, life insurance is simple. Buy it for the purpose of in case you die and your family or your friends (up to you) can survive without your financial support. Also, please remember don’t buy it for the sake of investment. Insurance is not meant for that. Insurance is for protection. Buy it for the right purpose.