Is Life Insurance Essential? 
Life insurance is essential in almost every financial plan . The exception may be the very wealthy . Think of it in these terms . When the rich invest money and they `` hedge their bets '' by investing in vehicles that go in opposite directions . That way if , for example , their stock goes down , their bond goes up . This keeps them from losing all of their money . For hard working folks their best asset to invest is their ability to earn a living . Therefore , if you die to soon and no longer earn , life insurance `` hedges your bet '' that your loved ones are still financially cared for . Therefore life insurance is a very essential part of the plan . 