5 Reasons Why Life Insurance Is Important
Life Insurance. Doesn't it just conjure up some insurance salesman
knocking on your door trying to sell you a policy that covers you for
accidents only, for a small amount and costs you the earth? No? It
doesn't to me either because those days are long gone!
I prefer to call it "Life Assurance" anyway, because it is assuring you
that your life is covered in the event of death and that what your life
is insured for, will be paid out to your estate or policy owner.
But how many of you actually have this coverage in place? I know of
lots of my friends don't because 1 - they don't know anything about it
(lack of education). 2 - they don't think they need it and see it as an
extra cost. How little they know... like anything, the earlier you
start, the cheaper it is...
Following are 10 important reasons why YOU should have "life assurance" and why those around you should invest in this:
Do you have any bills, like maybe a mortgage?? This alone is a pertinent reason to have life insurance... it means that should you die, this major bill will be paid off and not left to your survivors to deal with!
Reason 2
Young, fit and healthy? No ailments? Then this is the best time to get life insurance! Your premium will be small and if you take out a policy that allows you to keep the same premium until the age of 65 (term life), you will have considerable savings... the earlier you start, the better. And then if you develop any health issues throughout your life, it doesn't matter, because you already have the coverage in place!
Reason 3
Are you married? Do you care about your spouse? Then is it not thoughtful to make sure that your spouse does not have to worry about money should you pass before they do or vice versa? I know a couple who canceled their life insurance and then 6 months later he was diagnosed as having stomach cancer, and died 18 months later... leaving behind a wife and two children still at home and a mortgage... and no monetary relief for his family. Is this what you want to put your partner through?
Reason 4
Do you want to leave a legacy for your future grand children? What better way then ensuring your estate will actually have some legacy to pass on! You can elect in your will to have the proceeds of your life insurance paid directly to your estate and then as per your will, divy up the proceeds.
Reason 5
Peace of mind... yours that is. If you can't afford health insurance or any other insurance, you can afford life insurance... and should you develop a terminal disease... your life insurance will pay out a lump sum, allowing you to fulfill any dreams you have not achieved or you will have the option to to get your affairs in order.
There are many more reasons I could go into here, but you get the gist... just like you wouldn't risk not having your car insured or your house or contents... how can you not insure your number one asset... yourself?
About the Author: Kat Beechum is a passionate writer. Much of the inspiration for Kat's work comes from her varied and many interests and hobbies. Kat lives in New Zealand with her partner and their two cats, Cooper and Phoenix. If you found this article useful, please visit www.money-or-excuses.blogspot.com.