Determining the Need for Life Insurance at Different Stages of Life

The podcast discusses the purpose of life insurance and when it may be necessary. It emphasizes that life insurance is meant to provide financial support for dependents in the event of the policyholder's death. The speaker advises evaluating whether there would be enough resources to cover essential expenses if the policyholder were to pass away. They suggest considering factors such as adult children's inheritances, mortgage payments, and desired financial provisions for loved ones. The decision to continue or discontinue life insurance should be based on a thorough assessment of individual circumstances and potential shortfalls.