Life Insurance for cockroach?
Got 3 categories of people do not really need life insurance cover, especially single.
Few ever knows that billions of dollars worth of life insurance policies is on single and available people with no spouse, no kids and even no parents to look after.
Who would get the death benefits?
The cockroach or hamster?
The main purpose of life insurance lies in averting a financial hardship should something unfortunate happens to you. If you are single and parents already in some lala land, may as well use the premiums for monthly car installments and enjoyed life to the max.
Do children really need life insurance cover?
For most people, their children aren’t some Harry Potter stars or earn 5 figure income in television commercials. Would it be better to insure income producing adults, i.e. parents, especially for low income families?
Close relatives of multi-millionaires who included inside the will to inherit part of their vast fortune usually got much more than what is covered by any major life insurance plans. As a result, it is unwise to spend money on premiums.
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