Is life / term insurance necessary for one who cannot / does not intend to have kids? Assuming parents are financially independent.

It is because assuming you got CI or TPD, your resources and/or parents resources will be drained

Hi Ryan,

Depends on what you are buying the insurance for. Death, disability, critical illness or early critical illnesses?

If you don't intend to have children and your parents are financially independent, I suppose you don't need much for the death portion unless you would want to pass it for donation in the future.

But for disability, critical illnesses including early critical illnesses, it is still important regardless of whether you have dependants. The purpose of that is to support your own income expenses in the event when you are unable to work upon any disability or diagnosis of critical illnesses. But the coverage that you need might not be as high as those with children and parents who are dependant on them in this case.