You should buy life insurance when you care deeply for someone or want to make a difference in the world, and your financial resources aren’t able to fill the financial gap if you were to die.
Life is one big question mark: Will you be happy? Will you find love? Will you star in a reality TV show? Who knows? The only thing we can be sure of in life is that someday it will end. When, where and how are yet to be played out.
The key concept to understand is that you shouldn’t leave life insurance out of your budget unless you have enough assets to cover expenses after you’re gone.
The requirements for term life insurance for cancer survivors will be more specific. It will depend upon your personal circumstances, the company that you apply to, the type of cancer you had, and the time that has passed since you went into remission.