7 Reasons You Don’t Need Life Insurance

Life insurance can be vital to your financial stability — but it also can be a waste of money. In these situations, it can hurt you more than it helps.

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.

Comments

825 Active Deals

More Deals