There are many people who are wise enough and know the importance of life insurance. But they don?t take an insurance policy simply because they cannot afford it. Believe me life insurance is very important for such kind of people who cannot afford to buy an insurance policy. After all life insurance is a blanket which can help you in times of dire needs. Even if you don?t need an insurance help in your entire life, it will still help your family in your absence.
Life insurance not only takes care of your family?s day to day requirements, it also takes care of your debts that you leave behind, otherwise which your family would have suffered to repay that. If it is not possible to buy a costly insurance, you can even go for a much cheaper term life insurance. Term life insurance is basically a product which helps your family more then it helps you. I had a friend who used to avoid taking life insurance policy just for the sake of saving some money. Yes, he was not a very rich man. He used to earn just sufficient enough for to run his daily house hold needs.
But I would advice to such people, that it is even more important to get a life insurance, the reason is that a rich man can even afford to pay when ever there is an emergency for him, but what about a man who cannot even take care of the daily household requirements? One day he was painting his house from outside. He was using a ladder for to paint the roof of his house. Suddenly he slipped and fell down almost twenty feet on the ground and fell unconscious. He had to be taken to the hospital in an ambulance and was hospitalized for the treatment.
Whole life insurance is slightly costly then the term life insurance, but it gives benefits to you and your family both. Whole life insurance has a provision of investing your money in the market and the companies earn profit out of your invested money. The profit earned by the companies is not kept by them. It is passed on to the customers as a benefit to them. So at one point of time the profit earned on your insurance plan sometimes exceed your monthly premium and then in fact you start receiving bonus from the company.
In many cases, you have to in fact stop paying your monthly premiums also. Whole life insurance also takes care of you and your family both. In case of a sudden death before the maturing of the policy, your family gets the benefit of getting a lump sum amount which can at least take care of some time in their life. Depending on the points mentioned in the insurance policy, this policy also takes care of your debts. So, like I said it is always advisable to have at least one insurance policy which covers you and takes care of your future. After all it is always better to be prepared for any untoward happening which can ruin your life. - 16651
Life insurance not only takes care of your family?s day to day requirements, it also takes care of your debts that you leave behind, otherwise which your family would have suffered to repay that. If it is not possible to buy a costly insurance, you can even go for a much cheaper term life insurance. Term life insurance is basically a product which helps your family more then it helps you. I had a friend who used to avoid taking life insurance policy just for the sake of saving some money. Yes, he was not a very rich man. He used to earn just sufficient enough for to run his daily house hold needs.
But I would advice to such people, that it is even more important to get a life insurance, the reason is that a rich man can even afford to pay when ever there is an emergency for him, but what about a man who cannot even take care of the daily household requirements? One day he was painting his house from outside. He was using a ladder for to paint the roof of his house. Suddenly he slipped and fell down almost twenty feet on the ground and fell unconscious. He had to be taken to the hospital in an ambulance and was hospitalized for the treatment.
Whole life insurance is slightly costly then the term life insurance, but it gives benefits to you and your family both. Whole life insurance has a provision of investing your money in the market and the companies earn profit out of your invested money. The profit earned by the companies is not kept by them. It is passed on to the customers as a benefit to them. So at one point of time the profit earned on your insurance plan sometimes exceed your monthly premium and then in fact you start receiving bonus from the company.
In many cases, you have to in fact stop paying your monthly premiums also. Whole life insurance also takes care of you and your family both. In case of a sudden death before the maturing of the policy, your family gets the benefit of getting a lump sum amount which can at least take care of some time in their life. Depending on the points mentioned in the insurance policy, this policy also takes care of your debts. So, like I said it is always advisable to have at least one insurance policy which covers you and takes care of your future. After all it is always better to be prepared for any untoward happening which can ruin your life. - 16651
About the Author:
For further information on getting the best insurance policy, make sure you have a look at Todd Martin's website for term life insurance, and whole life insurance.
