The following is my
answer to a Quora question: “Why do I feel like I am gambling with
my life when I buy insurance?”
On the contrary, I contend that you are gambling if
you do not buy life insurance. Without
liability protection, do you have sufficient funds set aside in the event of
disability or terminal illness? Having a
stroke, and being incapacitated means someone else must take care of you. That is the loss of two incomes in the
household. Getting a nurse is not cheap.
Neither is the cost of hiring a maid. There is also the cost of renovating your
house to make it wheelchair accessible, for example. What about evacuation if you fall ill
overseas? What about loss of home and
means of living in the event of a disaster?
It is illogical not to get life insurance.
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