7 Reasons You Don’t Need Life Insurance

Brian A Jackson / Shutterstock.com

Dropping life insurance coverage may seem risky, but there are times when it makes good financial sense.

The main purpose of life insurance is to support dependents when you die. If others no longer rely on your income, the money you spend on premiums could be put to better use — perhaps spent on day-to-day living expenses or saved for retirement.

If you keep a policy that you no longer need, you’re wasting money.

Following are circumstances in which you might be better off without life insurance.

Read Next

15 Ways to Stretch Your Dollars in Retirement
15 Ways to Stretch Your Dollars in Retirement

Getting older presents new ways to save money. Study these strategies to make your golden years more golden.

Save More Money This Year Using 5 Fun Tricks
Save More Money This Year Using 5 Fun Tricks

Saving money doesn’t have to be painful. Here are some ways to game yourself into stashing more cash.

20 Purchases That Buyers Almost Always Regret
20 Purchases That Buyers Almost Always Regret

The temptation can be great, but stop and think before you buy these items. You’ll save yourself money and trouble.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Comments