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Does Everyone Need Life Insurance?

In this video blog, Insurance Advisor Joe Yates answers the question, “Who really needs life insurance?”

Claude: Hi, I’m Claude. This is Joe, and we’re with CommunityAmerica. And today, we’re talking about Life Insurance. Joe, I have a simple question. Does everybody need life insurance?

Joe: I would say that’s a simple question, but not necessarily a simple answer. It’s really what your goals are in life. If you think in life there may be a need for life insurance. If you want to buy it when you’re young and healthy, that’s going to be when it’s least expensive, so that would be a good time to buy.

Claude: So I can lock it in early when I’m younger and healthier, at a lower rate? Is that what you’re saying?

Joe: Yes, that is exactly what I’m saying.

Claude: Ok and then what if I can’t afford to buy it until I’m 50? Is that still an option?

Joe: It’s still an option; just keep in mind that it probably will cost a little bit more because you’re now older; health could have changed a little bit so that would weigh into the cost of it.

Claude: Okay, and is there a reason I would not have life insurance?

Joe: It really depends on what your personal goals are, but if your goals are to leave a benefit amount to your family, if that’s something that you have in the future or have now, then you might want to look at life insurance if you can’t self-fund that.

Claude: And that’s something you can help me figure out?

Joe: Definitely is.

Claude: Great, thank you.


Erin @ CommunityAmerica

Hi Beth--thanks for reaching out and for reading. Someone from our insurance team should be reaching out to you today! - Erin

Beth Benson

What does "self fund" mean? I'm 68 and have some retirement funds. But I would really like to leave my 3 kids something. I was told without dependents I didn't need it. But with funeral costs, mortgage what would you recommend?
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