What Are The Advantages And Disadvantages Of Life Insurance? 
Some advantages of life insurance are : 1 . Being able to leave money to provide for those who would be financially hurt by the insured person 's death , 2 . Not having to wait years to save up this amount of money , 3 . Life insurance normally being exempt from income tax , 4 . Life insurance normally being able to bypass probate , 5 . Policy owners being able to choose their own beneficiaries , 6 . Beneficiaries being able to use the death benefit as they see fit . 7 . The versatility and availability of so many different policies to choose from . The disadvantages could be : 1 . Having so much life insurance that one does not have a good quality of life , when your beneficiary really wo n't need that much . 2 . Getting Life Insurance when what the clients really want is a potentially high paying investment , and they are OK with risk . 3 . Having to qualify for Life Insurance medically can be a disadvantage for those with poor health . 