Do you think it’s worth taking life insurance?

[Anonymous]

Yes

No

[NaultD]

If you got kids 100% talk to lawyer about estate planning. Life insurance will be apart of that conversation. My parents died 3 years ago and I'm still dealing with the estate. Because they had zero planning and more expense then it could be.

You're a youngster. $200 a year you could cover your own cost of death god forbid. Still bad for your parents not a would penny help them. So why buy early? You can borrow from your own life insurance but it's not meaningful amount till a few decades if not half a century. It will be tax free and intrest free you already paid.

If you are diligent and pay off a 30 year mortgage and then pay what your mortgage was into life your already existing life insurance. You'd be in multiple millions payout for your children off your life insurance.

So if $200 a year is equivalent to spilled glass of milk and you won't cry about it, go for a life long investment at your age. Get some kids or any other higher responsibilities. hire a lawyer to write all the fine details.

[madhatters4]

i do. hopefully you can find a job that puts money towards life insurance as part of your compensation but regardless life insurance is an easy way to provide for those you leave behind when you die. it's cheap and generally has a nice payout

[madhatters4]

thanks for MHO

[CupcakeTheDestroyer]

That entirely depends on what you want done with your belongings and estate. If you have children or a spouse, your estate will automatically go to them without a will. If not, it will go to your parents. If you have neither, everything you owned in life will be taken in by whatever estate manager is hired by the funeral home that handles your remains. If you have those things and you know that your family isn’t going to be able to part with the things you owned for sentimental reasons or you know that if your family inherits your debt in death they will struggle, get the life insurance.

[Anonymous]

My mom used to tell me as a kid if I die another person who looks like me with my name will show up instead.. that's what life insurance mean😂😓

But yes it is but i wouldn't tell anyone about it

[Opinion Owner]

Thank you for MHO

[richardcory]

Depends on your situation. In most cases it doesn't make sense, but if you have young children and a spouse who can't support themselves, it might

[RainbowMarinade]

Worth it for who? Not the insured.
But necessary for those who don’t want to burden their loved ones.

Lol. Sounds like a commercial, but it’s true.

[Kaneki05]

Imagine worrying about what will happen after death. Once dead I truly couldn't give shit quite literally.

[rachel776]

if you have a husband or children who rely on your income

[Asker]

I have neither

[molonski2]

NEVER EVER EVER , one of the biggest forms of legal deception , dont under any circumstances take out a policy- RIP OFF.

[RainbowMarinade]

A rip off? Really?
What causes you to say that?

[molonski2]

@RainbowMarinade OMG.. Do you understand why Warren Buffet buys insurance companies?
Its a giant pool of deception , its banking on the fact that you are unlikely to die ( at a young age ) suicide is excluded , as the years go on the premiums go UP , until you simply can't pay..
The " pool " is used to create income.. Why would you need a CEO If the pool was paid out?
Its an absolute RIP OFF , and the absolute worst of the lot? LIFE INSURANCE.. Age 33 ? NO NO NO , buy one ETF and keep buying same.
Rip off - is an understatement , do a little research , that isn't based on insurance company info.

[RainbowMarinade]

I hold a life insurance policy for my father that my mother purchased for him, I don't know, 50 years ago. The cost is $166 a year. It’s whole life with an investment component. Once the policy is paid up, you can stop paying the premium, or continue paying into the investment.
This was paid up long ago. 10k policy I think. For every $166 I pay, the payout goes up $500. Not a bad return, huh? I have the same policy for my kids. They are all valued over the initial purchase amount.
And suicide doesn’t automatically null the policy. My agent and I had a conversation about that.
Term insurance has it’s uses in a sound financial plan. Sure, you’ll probably survive the term. But the people who rely on you financially would be thankful for the insurance if you don’t.

[LiamJHayden]

Not for me, but I am unmarried with no children or even any relatives. The heir for my house, rental properties, and other assets is my best friend, and my company gets taken over by my office manager if I pass.

[Anonymous]

Yes unless you want to fuck over your family in case of your death.

[Anonymous]

No, being worth more dead than alive is too much of a worry

[BarryLiverstone]

Insurance is worth it

[Alexandrubaschet08]

The moust pointles thing in this life.

[exitseven]

no, you have to die to collect.

[RainbowMarinade]

Pro Tip: you don’t collect after you’re dead.
Somebody else does

[exitseven]

@RainbowMarinade yes, I always say that I would rather be worth more alive than dead.

[Alex-Snow]

If you have children or a spouse then definitely

[JoeMichael67]

Only if you have kids.

[gorydetails]

Do you have children? A spouse?

[CuriousMufuxka]

No and you can bet your life on it!

[nolabels]

Nope.