Is life insurance worth it?

  • by Human
  • Dec 31,2018
  • 27 answers

I'm currently a freshmen in college, and my family asked me if I want to help pay $75 for my dad's life insurance and $40 for myself in the future. I'm really uncertain to help pay because I don't make enough. On average per month, I get $500 to $600. With that check, I pay $240 for my car insurance and $50-$80 for utility. That is about $320 out of my check. That would leave me with 3 to 400 in my pocket. Most of those money goes straight to gas, since I commute from school a lot. I do go out sometime, because at a young age, my parent were strict. I never got to go out with friends, so leaving my hometown was a opportunity to have fun. In general, for gas and outdoor stuff, I spend at least 200 in a month. Should I help my family pay for the life insurance and should I do one for myself?


LIKE OR DISLIKE:

  

Insurance Answers (27)

car253 2 weeks ago

If you pay for your dad's life insurance, WHO will be the beneficiary ? You would need to post more information, how old is your dad, how is his health? What kind of life insurance policy are they offering for $75? Is a term policy? How many years is the rate locked in for ?
There are many questions you need to ask in order to make the right decision. I will take a guess, your dad is in his 50's and the life insurance death benefit is around $100,000 and the rate will be locked in for 10 or 20 years. Please let me know how correct or off am I?

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Dinesh 2 weeks ago

No. You should die instead.

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Александр 2 weeks ago

based on different situation,if u have family,can buy some for your family

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Bob 2 weeks ago

Sometimes it is.

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Insurance Pickle.com 2 weeks ago

It could be a good idea, but it certainly doesn't seem like you can afford it.

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StephenWeinstein 2 weeks ago

You should not do one for yourself. Not sure about your father.

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Judy 2 weeks ago

no and do not get life insurance for yourself unless you have dependents.

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STEPHEN 2 weeks ago

A freshman at college has no need for life insurance. You have no responsibilities. When you get married and have kids is when you need life insurance.

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exactduke 2 weeks ago

Tell them you're a 'dirt poor' student, and can't afford life insurance. Sounds like you need to nip this in the bud, or you're on track to pay for lots of stuff once you get out of school. Are they really that hard up??

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Bill 2 weeks ago

think about this
you pay for your fathers life insurance and whne he dies it is paid into his estate ' you may not get anything from that estate but you have been paying to make money for some one else
LIfe insurance benefits no one but the heirs and insurance companies so if you cannot afford it and don;t like the idea --don't pay anything

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dedhn 2 weeks ago

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puxqh 2 weeks ago

nqsovmdc

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Casey Y 2 weeks ago

I wouldn't pay for either...

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yefok 2 weeks ago

jsoonvwn

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kaukq 2 weeks ago

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pkfgy 2 weeks ago

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Nicholas 2 weeks ago

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oafve 2 weeks ago

lodrasqj

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xvpon 2 weeks ago

axcarsaq

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loduf 2 weeks ago

ssrewtsa

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