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A few weeks ago, I was talking to a friend about her finances when she told me she had a life insurance policy. I was stumped. My friend is single, doesn’t have kids, and doesn’t own a home. If she died, no one would be impacted financially.
It turns out my friend’s parents had bought her a whole life policy when she was born, and she recently took over the payments. She was paying hundreds of dollars a year for a policy she didn’t need.
Life insurance is a complicated topic, and many people avoid buying a policy or don’t think they need one. On the other hand, it’s easy