I've always believed that life insurance was a necessity in life, like food and shelter. Let's face it, we're all going to die someday! And, who's going to pay for the funeral if you don't have life insurance? I remember when I was 7 years old and my grandfather died. We had to pay for the funeral because he didn't have life insurance. That was 20 years ago, and the cost was about $8,000! Now, you're probably looking at $10,000 plus for a nice funeral. Who has that kind of money laying around that can be accessed quickly?
My biggest pet peeve is when you're driving around on the weekends and you see 2-3 car washes where people are trying to raise money to pay for the funeral of a loved one. That just saddens and aggrivates me at the same time. If these people had just bought a life insurance policy, they wouldn't have to worry. As a former insurance agent, I can tell you that life insurance is cheaper than you think. And, the younger you are when you buy it, the cheaper it is.
Nobody says you have to buy a $1 million life insurance policy. If money's tight, just buy enough to cover your funeral expenses. There are different types of life insurance policies available, and some are cheaper than others. Also, many companies will give you a discount on your home, auto, and life insurance if you have all of them with the same company, so it's even cheaper.
Many, many companies WILL insure people with health problems, so that's not even an excuse anymore.
I've mentioned this to people before and have always been told "Some people just can't afford life insurance." My answer is "Those are the people who can't afford NOT to have it!"
I know lots of people who struggle to make ends meet. Hell, we're even on that list some months. But, I ALWAYS pay our life insurance bill, just like I ALWAYS pay the rent. Because, it's important to me that our family is protected in the event that one of us dies unexpectedly.
Not to mention, some people who claim to be struggling are really struggling because of poor spending habits. I know a woman who always complains that she doesn't have money to buy food, but she always has the latest cell phone with all the extra expensive features. My thought is, get rid of the $100 cell phone bill and buy food!
Same thing goes for life insurance. You can get plans for less than $20 per month. Almost anyone can find $20 a month by just cutting back on spending, clipping coupons, etc. A small amount of money now can save you thousands when it comes to paying for a funeral.