You need life insurance. There is no way around it. If you don’t have it, you need to get it.

Now you may ask yourself “Why should I pay for something that won’t get used until after I’m dead?” The answer is simple – you are going to be leaving someone behind when you go – a spouse, children, or some other loved ones who depend upon you. Do you really want to leave them un-provided for?

Take my situation. My wife does not work due to her health. We have a house with a mortgage, a car payment, and miscellaneous other regular expenses – not the least of which are related to her health care. What happens if I die tomorrow? She would be left with a body to bury and an unattractive debt-to-asset ratio and no income source. That’s why I’ve got some insurance, and am thinking about upping the amount significantly. It isn’t for me – it is for her.

You have options. You can get whole life insurance that will be in effect until you die, or term life insurance that will expire after a certain length of time if you don’t expire first. There are even term policies that will return your premium to you at the end of the term if you haven’t died!