If you help support others, you need life insurance and more - really
If a child, a spouse, a life partner, or a parent depends on you and your income, you need life insurance.
She's right: If you help support others, examine your priories.
Purchasing adequate life insurance and doing your estate plan, viz. signing a will and creating a trust, are probably low on your list. They should be at the top.
Two good reasons that you should review and act:
I saw the confusion and pain wife had to address when she lost her husband, before he bought the life insurance he had promised to obtain, and had to help her kids adjust to the massive change of lifestyle as they sold their home and downsized because they could no longer afford what their dad, the chief income earner of their family, had provided them. If they had proceeds from his life insurance, they would have only been dealing with the grief of losing him.
I saw adult children deal with the probate process so they could be appointed administrators of their mom’s estate just to be able to access bank accounts, pay funeral expenses and then sell and distribute the remainder of her assets, making their own decisions in place of knowing what she would have wanted.
So please think again.
If you have not obtained life insurance to replace your earning power, which helps support your family, and if you have not executed a will, along with a trust, medical directive and other documents that may be appropriate, you are not just avoiding an inconvenient imposition on your time and the payment of premiums and fees, you are failing to properly think of the consequences of not acting and the impact that could have on your loved ones.