Life Insurance Versus Personal Savings - Which One Is The Better Option?
You may not think life insurance is necessary.
Perhaps you already have a
retirement fund, a vehicle and home insurance.
Life insurance only pays out after
your death, at which time...
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Life Insurance Versus Personal Savings - Which One Is The Better Option?
You may not think life insurance is necessary.
Perhaps you already have a
retirement fund, a vehicle and home insurance.
Life insurance only pays out after
your death, at which time you do not need it anymore.
What if you put aside a
certain amount of your income per month and rather use that savings when you are
in need of it? It is a valid question, but the reality is not so simple.
You will need to
put aside large enough amounts that by the time you need it for the purposes that
life insurance would cover, you should have saved the same amount that the
insurance would pay out.
With that in mind, can you really afford to do that? Is
your income large enough to cover your living expenses and set aside that money?
Can you honestly say also that you will not touch that savings? Not if you are a
normal middle class person and not unless you want to live in poverty just to have
money after you die and still not
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