2. No Dependents

Mostly the beneficiaries of a life insurance is the spouse, children or parents of the insured person. Hence if you don’t have any dependents on you, especially no financially dependent members, then buying a life insurance will not make any sense. If you are not married and thus don’t have spouse and children, then it is advisable to you that rather than buying an insurance policy, you can invest in mutual funds and equities and start saving for you near future. This saving will help you till your retirement, hence it’s very vital to start early.

3. No Financial Liabilities

If you have no financial liabilities towards your family, like repaying a loan and if you have enough funds saved for your family members who are financially dependent on you, then you shouldn’t buy a life insurance. If you are interested in investing your money, then first priority is to save enough for you family, so that they don’t have to struggle even if you make some lose while trying your luck in the stock market.

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