Quote:
Originally Posted by disneysteve
Why would it make sense to buy it before you actually need it? You'd be wasting the premium payment every month during that time. If nobody is dependent on your income, you don't need insurance. Nobody will suffer financially if you were to die.
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You can't just assume "waste" without assessing individuals situations. I agree with LuckyJB. What if the person carries all kinds of debts; credit card, personal loans, and mortgages, burial expenses, hospital bills, would having death protection good idea then? We tend to forget, we incur so much debt on our early years and don't consider the unattended consequences, which is the consumers. You also wouldn't want burden your "own" family of your expenses knowing you have the financial resource. Also, your health status changes year-to-year which affects your insurability.