There are a lot of reasons to purchase life insurance, but if you live paycheck to paycheck, buying life insurance can be a major decision. Some people in that situation think, why buy life insurance, there is no need to have coverage.
If you are a single, and you have no financial obligations, you may very well decide not to buy life insurance.
Still, consider the following: If you live paycheck to paycheck, and if your family relies on your income to survive, then your refusal to purchase life insurance will leave your loved ones in a state of economic shock.
Think of how your family will struggle to stay financially afloat – picture how bills will quickly accumulate, if you do not have coverage in place – and how your mortgage, credit cards and car payments will leave your loved ones poor and hungry.
Life insurance is their economic protection.
Life insurance is a necessity.