I think individual life insurance is necessary. Insurance provides financial protection in case of unexpected events like accident, illness or natural calamity. About two weeks ago I completely know about the insurance related matter. A neighbor of mine passed away about two months ago, he was the sole earner of his family, the unexpected death left the family helpless. I thought their condition would be worse but after checking last week I found out he had a life insurance policy. Family members are now trying to change their situation with this insurance money. However, it is very important to insure for the future.
That's exactly the main goal and importance of having insurance. Especially for those who are a breadwinner, their family will have a hard time if ever something happens to that person. At least, if ever you are insured to the insurance your family can adjust and receive financial support from the insurance you invested at an early age.
It's also important to realize and invest early as much as we can. The more we grow older, the higher the amount of insurance we need to pay. That's why at a very young age or the moment we start working and we think we can manage to initiate having insurance, do it.