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Friday, February 24, 2012

Why Insurance?


Life insurance is your ‘umbrella’. You appreciates your umbrella more during bad weather. Life insurance protects you and your dependents indirectly.
Life Insurance is something which a lot of people fear. People fear to meet a life insurance agent, which nowadays being called Financial Adviser or Financial Advisor or even Financial Planner, depending on their qualifications. Even though many people especially the newer generation of people — those people who are in business studies or some knowledge of investment, have ideas of the importance of life insurance, when encountered by any life insurance adviser, they would try to shun away too. However, there are still many people who never fail to listen to what life insurance adviser has to offer for them. These people are ‘believer’ of life insurance. Some of them even take up new plans every year or every other years. What is the purpose and benefits of life insurance? Why is it that life insurance companies are expanding their business and life insurance adviser are urging people to take up life insurance?
There are many types of insurance. For example there are travel insurance, dental insurance, business insurance and title insurance, home insurance etc. I have written a number of posts about life insurance and other insurance in my other blogs, one of them being Money Kingdom, at http://moneykingdom.blogspot.com/. I have even blog a video on the concept of life insurance. I had been a Financial Adviser. If not for my family obligation, I would still continue to be one. It is a meaningful job.
Regardless of the types of insurance, basically all insurance serves similar purposes and benefits. For example in travel insurance, it is to provide peace of mind when traveling overseas, to protect you against any personal injuries, lost of luggages etc. Below I shall describe the purpose and benefits of life insurance:

Purpose of Life Insurance
1. Financial Support
  • For Ourselves, why we invest in life insurance? The answer is to provide financial support during unforseen circumstances in life such as accidents, Disability and Critical Illness.
  • For our dependents, when we met any mishap such as accidental death or terminal illness and any other premature death — our dependents can have a sum of money to cope with their daily living while going through periods of grieving.
2. Savings
Another advantage of life insurance is while ‘paying’ for life insurance, we are actually saving our money for retirement use. Endowment Policies are insurance policies that have more investment returns as compared to life insurance policies. There are many types of insurance policies and depending on your needs, there would be something which will always serve your needs.
3. Peace
Knowing that we took up life insurance is like we are walking on the streets with your umbrella along. You do not need to be scared of sudden rain. You can always take out your umbrella when it rains. Knowing that you are insured, means that you are prepared for any life’s sudden misfortunes such as critical illness or accidental disabilities. You can have peace of mind, knowing that you and your dependents will be taken care of.

Benefits of Life Insurance
1. Knowing the purpose of life insurance mention above, the benefits would be obvious. The benefits would be monetary means and support at times when you are not able to work, at times where you need to be in bed, at times where you are on medical certification.
2. Life insurance is cheaper if you take it up at an earlier age. Even if you do not have any misfortunes in your years when you have taken up life insurance, your money is not wasted at all. Over the years, what you have paid for is compounded and during your retirement age, you can withdraw your investment. At times of emergencies, you can take up Advanced Premium Loan (APL) too. During your golden years, there is annuities where the elderly can receive monthly savings to spend too.
3. Knowing that you are covered for life insurance at an early age provides you peace of mind. At times where you are diagnosed with any illness, it is difficult for life insurance companies to cover you. There would be loadings or exceptions if one is noted to have certain illness or history of illnesses. Having a peace of mind means that you do not need to live your life in fear and anxieties. You do not need to worry about what will happen to your dependents if you were to die suddenly. You do not need to worry much if you were to be diagnose of critical illness tomorrow.
So that is all about purpose and benefits of life insurance. There are so many different types of insurance types out there that are tailored to protect both individuals and businesses. For more information on additional insurance types (travel, business, dental and business) and the availability and affordability of these insurance types in Florida and Massachusetts, please visit SecureInsuranceQuotes.com. Depending on your needs, there is always some insurance products that would suit you. There are so many things to be discovered about life insurance and many types of insurance. To know more about business insurance, you can visit Florida Business Insurance. You can also find out more about dental insurance at SecureInsuranceQuotes.com. SecureInsuranceQuotes.com is a comprehensive site all about life insurance and different types of insurance — read expert advice on various topics about life insurance. Seeing is believing. They even offer Massachusetts Title Insurance!

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