I do have this opinion about life insurance: why do I need it? If I die, why should I worry about the current kith and kin? (my wife also shares similar idea). Only when we think at the family level, it starts making sense. We feel uncomfortable to think about our family in a financial difficulty in the absence of the bread winner. That is exactly the emotional blackmailing weapon used by the insurance agents.
I used to think why the government, (atleast the Indian govt) is encouraging insurance. They give lots of tax rebate and other benefits. May be it will be a headache for govt when the income of a family is totally cut (ie, when a single person is the sole person earning in the family). If such insurances are not encouraged, govt will have to take the headache of providing plans for widows and kids.
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