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 your 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’ll be wasting your money.

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

Popular Articles

6 Tips to Age-Proof Your Resume
6 Tips to Age-Proof Your Resume

Finding a job isn’t easy — and it sometimes feels like too much experience actually counts against you. These tips will help.

How All 50 States Tax Your Retirement Income
How All 50 States Tax Your Retirement Income

Find out which states are friendly, and not-so friendly, with the money you’ll need in your later years.

7 Reasons You Should Rent a Home in Retirement
7 Reasons You Should Rent a Home in Retirement

Renting is a better fit than owning for many retirees. Here’s how it can pay off during your golden years.

View this page without ads

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

Get Started

Trending Stories

Comments

912 Active Deals

More Deals