Do I need life insurance?

Question

I am a single male home owner age 30, I live on my own and have no children. My girlfriend insists I should have life insurance but I don't see the point.

Answer 1

No, if you're not financially responsible for anyone then you have absolutely no need for insurance.  She's your girlfriend....not your wife.

HOWEVER, if you want to insure the ability to get insurance when either this girlfriend becomes or wife...or another girl then you may want to get insurance.  If you wait you could develop a condition that could either preclude you from getting coverage OR just make it more expensive.

People generally don't get healthier with age so it's not a bad idea and I'd probably recommend doing so, but the answer to your questions is "no."

Hope that helps,

Jeff

Answer 2

Does anyone depend on your income?  You have no children and no wife.  Your parents don't need your income.

If you die tomorrow, your house gets taken by the bank, your cars (if they still have a note on them) get repossessed.  The rest of the debt, assuming nothing is cosigned, gets pulled from the estate then written off.

If ANY debt is cosigned, they will go after whom ever is still alive.

If no cosigners, and you want to ensure your burial is paid for, get a policy big enough (small enough?) to cover it and have the beneficiary be whom ever you name as executor of the estate.

Otherwise, you really have no need for it.

If your girlfriend will be your wife eventually, I wouldn't worry about getting life insurance till closer to the wedding day.

Answer 3

Well no-one NEEDS life insurance do they... I mean its not like you're going to see the benefit from it !!

However, you might want to know that should the worst happen that your gf won't have to worry about finding the money for your funeral etc. Life insurance usually pays out quite quick (its not like they can dispute the claim.... "no you're faking, get out of that box") certainly much quicker than liquidating major assets like your house etc.

On top of that, might be nice to make sure that your gf (or other loved ones?) at least won't have any financial worries if you shuffle off this mortal coil before your 4 score and 2 are up.

I see your point and not saying you should..... but I would !

Live long and prosper mate.

Answer 4

if you do not have a family at all then it a wast of money but if you have a family then you better get the insurance

it that easy to understand

Answer 5

Get life insurance if the worse should happen (hope not) it will pay off your debts/morgage etc, and give your next of kin (whoever they are) one less thing to worry about,

Wishing you a long, healthy and happy life

Answer 6

If she insists,then watch out for crunchy bits in your dinner.

Answer 7

u shold get life insurance incase u get injured otherwise the bill could hit hard. u wouldnt only lose money you might lose a woman too!

Answer 8

yes u do. since u live on ur own u don't always kno what will happen. and ur gf insists then do what she says. shes just looking out for u.

Answer 9

She's a money grabber, watch out for packets of rat poison around the house.

Answer 10

well yes and no but my grandparents have it incase they pass and it pays for everything so its not put on ur family and it gives them money look into it more its more helpful to ur family than u, u have to think of that