What could happen to your family’s finances without life insurance?

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms.

September 22, 2026 / 1:44 PM EDT / CBS News

Life insurance doesn't always feel like an immediate financial priority, and that's particularly true when you're juggling mortgage payments, groceries, childcare and other everyday expenses. Unlike many household costs, the benefit of paying for life insurance coverage can also seem distant, especially if you're healthy and still many years away from retirement. That can make the idea of skipping coverage or putting off buying it seem like an easy way to trim your monthly budget.

The problem is that the financial obligations you're handling today won't just disappear if you die unexpectedly. Should that happen, your family could still have a mortgage or rent to pay, children to support and other expenses that were previously covered, at least in part, by your income, to pay for. And while the savings you put away now can provide some protection, even a substantial emergency fund may not fully replace years of lost earnings.

That's why the decision to go without life insurance can have consequences that extend far beyond the cost of…

Original source: https://www.cbsnews.com/moneywatch/