Let me clarify The Theory of Decreasing Responsibility, and then we will find an answer to this issue. Assume you and your partner recently married and have a boy. They are, like most people, nuts when they are young, so they go out and buy a new car and a new home.Learn more by visiting Miller Hanover Insurance
Now you’re a single parent with a small child and a mountain of debt! If one of you were to die, the loss of income would be catastrophic to the other spouse and child in this situation. This is the case when it comes to life insurance. However, this is what occurs. You and your partner start repaying the debt. When your child grows older, he or she will become less reliant on you. You begin to accumulate money. Keep in mind that I’m talking about real properties, not fictitious or phantom ones like home equity (which is just a fixed interest rate credit card)
Finally, the condition is as follows. The kid has left the nest and is no longer reliant on you. You don’t owe anybody anything. You have enough money to survive on while still covering the expenses of your funeral (which now costs thousands of dollars because the DEATH INDUSTRY has found new ways to make money by having people spend more honour and money on a person after they die then they did while that person was alive). So, what do you need insurance for at this point? None… nothing… nothing… nothing… nothing… nothing… nothing… nothing… nothing… nothing No, why would you buy Whole Life Insurance (also known as DEATH Insurance)? To say the least, the thought of a 179-year-old person with grown children who don’t depend on him or her still paying insurance premiums is absurd.