Life Insurance In Plain English
Life Insurance In Plain English
The term "life insurance" is really not as complicated to understand as a lot of people think. You've probably at some stage seen a Hollywood movie where a butler finds his master's lifeless body in the heated swimming pool. He then runs to the bedroom to tell his master's widow, but finds her less shocked and upset as he would have expected. And then it hits him, this was no accident.
Life insurance (in real life) works on the same principle but is slightly less theatrical! There is still an insurer and an insured involved in every life insurance transaction. Some regard life insurance as insurance with a touch of irony - Throughout the insured period, the investor pays his monthly premiums. He then passes away and the money goes to someone else. Ironic? I don't think so! Taking our life insurance is a responsible thing to do as it is all about providing for your loved ones once you're not there anymore.
Forever young, I want to be forever young. Nice song sure, but the reality of life is that we are not immortal. Sooner or later we will all wave goodbye to the life of flesh and blood and even if we don't like thinking about, we should! Will your family be taken care of if you're not there? How will they be able to pay for the house they're living in? Will they still be able to afford private schooling, and college or university after that? What if they don't even have enough money for food.?
A broker once explained life insurance to me in the following easy to understand way: If both mom and dad are breadwinners, they are able to share the living cost and other expenses. Now, if dad passed away, mom will now have to pay all of this on her own. Life Insurance is in effect there as a safety net to help mom when dad's not around anymore - it is not a "get rich quick and never have to work again scheme" but rather takes care of dad's responsibilities, so the family can still lead a happy, comfortable life. Losing a family member is a horrible experience in anyone's life - why should this be worsened by financial uncertainty?
It is never too soon to take out life insurance. Of course, idealistically, we will all live to be a 100 years and die of old age, but the purpose of life insurance is to act as safety net for those times when life does not work out as anticipated. Imagine you're a young executive on your way to work to earn money for the little pink foot's arrival. You plan to start thinking about insurance only after the baby's birth as there are now too many expenses. The next moment you are killed by a truck that didn't stop in time. where does that leave your wife and unborn baby?
There are a lot of affordable life policies available. Affordable cover does not necessarily mean inadequate cover! Rather start with a basic policy than no policy at all.
Taking out life insurance is not a difficult process. You can either approach your broker for guidance and advice, of if you don't have a broker you can apply telephonically or via the internet.
Never wait until tomorrow or until the next week to do something as important as taking out life insurance. No matter how invincible you think you are, remember that life is what happens when you're making other plans! Life Policies Are Unlike Any Other Insurance Policies Hump Day And The Daredevil Life Life Insurance For Diabetics Life Insurance For Seniors Over 70 The 6 "Must Know" Steps to Lifetime Success and Abundance Life's Goals And Success Life Insurance Wilmington NC - 33 Secret Tips To Not Get RIPPED OFF Life Insurance 101 - Several Crucial Questions To Consider Obamacare demise of the health insurance broker Life Insurance Winston Salem NC - 33 Secret Tips To Not Get RIPPED OFF Lock Smith and Life How to Heal a Broken Heart and Move On With Life Different Type Of Life Insurance