3 Shocking Reasons Why You Should Not Get a Life Insurance


Do you really need a life insurance? Many people are in the dilemma of why to get a life insurance because they don’t know the importance of this kind of financial product.


I admit that I only lately realized the importance of having a life insurance. I’m blogging personal finance for quite sometime (5 years now) but only in 2013 I started to invest in a VUL.

There are lots of excuses and procrastinations before I bought my first insurance in SunLife. Now, I am fully convinced that it is essential for every head of the family and breadwinners like me.


If however, you still don’t have a life insurance, here are the 3 shocking reasons why should not get a life insurance. Seat back and start reading.


1. You will not die.


If you will not die, life insurance is not that important. However, all people will die sooner or later, it really depends on God when He will call you.

We don’t know when are we going to die and how. Some people die unexpectedly, some are predicted by their doctors because of serious illness.

In any case, the bottom line is that all of us will die. And when we die, our family that we left behind needs money for our funeral services and other things that we need so that they can give us good burial.

So this first reason you should think about. You should not get a life insurance if you will not die.

insurance policy

2. You don’t love and care your family.


Insurance will greatly help for the financial need of your family when you’re gone. If you don’t love and care about them, you must not buy a life insurance.

I’ve seen several relatives who die young leaving their wife and kids in surprise because they think it is not the time. You know, we cannot predict when we are going to the grave, so it is important to be prepared just in case.

A life insurance can be a tool so that your family can go on with their life without you earning an income. If you have the capacity to buy a life insurance, do it as early as possible because you don’t know when are you leaving this world.


3. You are rich and you have lots of money you can give to your family.


I assume rich people also have their own life insurance. Anyhow, if you have lots of money in your bank or investments, getting a life insurance may not be necessary for you.

When I say rich, his or her net worth maybe around P100 million. If you doesn’t have this net worth, buying an insurance is a good move to lessen your family’s financial burden in time of your death.


On the contrary, you should get an insurance of you are not the person above. If you are a newbie about insurance and investing, getting a variable life insurance can be a good choice since you still don’t have started investing in mutual funds.

However, if you already know how to invest in the stock market or MF, buying a term life insurance is the best way to go. Financial experts called it buy term, invest the difference (BTID).


Photo Credit: Pictures of Money

2 thoughts on “3 Shocking Reasons Why You Should Not Get a Life Insurance

  • November 14, 2015 at 22:02

    I was shocked! I need a life insurance after all.

    • November 25, 2015 at 11:35

      All breadwinners should have insurance just in case of sudden death you’re loved ones have something to used for.

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