But I don’t need insurance!

“But, I don’t need insurance”

I have heard this said many times.   Let’s first compare the situation.

Your car is an asset and a liability.

You may say that you do not need car insurance because you are a good driver and if you did get in an accident you have enough cash to just buy a replacement car anyway.

If you have already saved up enough money to buy a new car and that money is not needed for any thing else, then great you have the cash in hand to replace your asset.   However you may not have the cash in hand to buy a new car for the other person involved in the accident, or to pay for all the hospital bills that may be caused by accident and to pay for legal fees that may be incurred when the other persons insurance company charges you for damages  etc.

So we have to keep in mind that insurance is NOT just about you.   Insurance policies are to protect you and protect your family and any one else involved.

As we all know we are legally required to purchase Car insurance before we take a car on the road, because it is the responsible choice to make.

Your personal finances is an asset to you AND to your dependents.

So when people say to me that they do not need life insurance, I do agree that they may not personally need life insurance because at the time of making a claim the insured person is has passed away.

However if

  • You Love your children who are dependents
  • You Love your spouse
  • You want to leave a positive legacy
  • You want to donate to a charity
  • You want to stop the cycle of debt

If you said YES to any one of these reasons, then you will buy a permanent life insurance policy.

Of course the amount of the policy has many variables and is totally your choice.   But to choose to not have a permanent life insurance policy is not responsible.


Now practically speaking you need to answer the following questions for yourself and prepare for the solutions.

How will you pay for your funeral, the taxes owed after you pass away and any left over credit card debts?

  • Option #1.   Set aside enough cash to pay for it and then commit to never touch the cash.
  • Option #2.   Buy a Permanent Life Insurance Policy and then relax
  • Option #3.   Tell your kids they will have to pay for it from their personal funds.

Personally I do not like option #3 since I do not want to leave debt or expenses to my kids.    I also do not like option #1 since I may need the cash in my final days to pay for health expenses, which means the money will not be there to pay the final expense.

So really the only good answer is #2.

So Call 403-831-7820 and speak to Michael Spears, an independent life insurance agent to set this up for you.