Who needs life insurance?

The classic argument to avoid life insurance runs, "If I die, why do I need money?" You don't -- but your family, your business or your favorite charity might. So anyone with dependents, human or otherwise, might need life insurance.

Of course, if you don't need to protect anyone else, insurance is not a wise way to spend money.

According to Steve Kramer, who has served on the members' insurance and benefits committee of the California Society of Certified Public Accountants for 27 years, this group not needing insurance includes people who have raised and educated children now living independently, folks who have accumulated sufficient assets to support a surviving spouse and the single elderly (and not-so-elderly) population.

Read more: http://www.bankrate.com/finance/insurance/just-the-facts-on-life-insurance-1.aspx#ixzz2NEyVw72y
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