Okay Ani,
Is life insurance a scam?
Hi There,
I understand your concern. Life insurance, like any other purchase can come in handy if the situation calls for it. It can provide peace of mind if you have debt or people depending on your income. Fortunately, you have options, such as purchasing coverage for only a certain number of years and amounts. Obviously, never buy more than you can afford. Term life is most affordable but does not build cash value and also, as the name implies, is good for a only a number of years. A whole life policy will work if you do have the extra money to spend on insurance and don't want to have to worry about your policy expiring. It will also build cash value that you can borrow against if you need a lump sum of money on hand or want to make a large purchase. Value your money, do not buy this type of product if you see no need for it.
All the Best,
Ani
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