No, life insurance is not needed. Insurance started out as a way for families to bury their loved ones and pay off any debt that was left behind. Insurance was placed as a way for a family to continue living in the manner of which they were accustomed.
So let us start from the beginning.
At 20 years old you open a $20,000.00 life insurance policy, which you have to pay $20.00 a month for until the day you die. Then you get married and add the spouse for about another $2.00 more, and then add the children for about $1.50 per child (you have 3 children). Now keep in mind that with God’s blessings, the children live long fruitful lives, however they can no longer be carried on the original policy after they turn 21 or 25 if they are in college. Who gets the money that you have pay for about 24 years for the children.
Now, again with God’s blessings you and your spouse live up in your 70’s, and one morning you find your spouse has gone on. The insurance pays you the $20,000.00 that 50 years ago, you felt would pay off your hospital bills and other life bills that came along. In 50 years you could have placed that insurance money in a saving account and had over $13,200.00 plus interest.
So now the insurance company has $13,200.00 minus your $20,000.00 = -$6,800.00, plus the $1,200.00 or so you paid on the children for twenty something years. This means that the insurance company has $-6,800.00 plus interest and the $1,200.00 or so extra you paid for the children which equals around $159,000.00 compounded for 50 years at 8% excluding the children’s premiums.
The life insurance companies in many cases are getting money 2, 3 and even 4 times within one household. There are families which pay life insurance on their homes, cars, and big ticket appliances. Unknowingly to the family many of these insurance companies are one in the same and you will pay these policies until the purchase is paid off and that is money you and your family will not see again, unless you die before the item is paid!
Now we come to what God said we should do! God said, That we shall return of which we came, so why do need insurance to buy weather and pest resistant coffins and place our love ones in $400.00- $800.00 worth of clothing. This is because the insurance companies and the burial companies work hand and hand. Why do you need a $800.00 vault to preserve your reminds when what you want is to return as God says. So if your sprite has left your body why not let the body return as it should, why preserve it reminds?
We as people think that it is so God forsaken and wrong to allow the State to bury our love ones. However, before all these money hungry companies came into play, people were buried by their families where ever they died and some believe in the rites of burning. Ok, we do not want people burying their family in the back yard, or starting a burning ritual in the middle of the street; but what is wrong with a plain and simply burial by the State, for a few hundred dollars?