Is life insurance worth it?
Answered by Cheryl Heikka
Financial Strategist · Your One Agency
It depends entirely on one thing: does anyone rely on your income or the unpaid work you do? If people would face real financial hardship without you - a spouse, kids, aging parents, a co-signed mortgage - then term life insurance is one of the cheapest ways to protect them, and it's worth it. If truly no one depends on you financially and you have no shared debts, you may be able to skip it for now. The honest test isn't your age or marital status; it's whether your absence would leave someone in a financial hole.
The gap most people miss
Many people decide it's "not worth it" based on cost they've never actually checked, rather than on whether someone depends on them.
The coverage gap check answers the real question - whether anyone would face a shortfall without you.