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Insuring Your Life! Oh Life! Ohhh Life!

Posted by Kerri Mosher on November 2, 2016 in Blog |

Insuring Your Life! Oh, Life! Ohhh Life!

Life insurance is such an important part of your well-being and for others. It shows you love life as much as you love being with the ones that you care about. Many people have insured themselves already. Will you join them?

hands-in-the-air

So the benefits of life insurance are that you can join at any time you desire. Whether you are at pre school, expecting a baby or living out your life as a senior, you can skim through websites like http://lifeinsuranceforseniorsover80.com/ and pick out the best, most appropriate deal for you. It’s really that simple and straightforward!

You can choose out of two types of insurance; the whole of life cover and term insurance. Both have their own personal advantages. With the whole of life cover, you pay a small fee every month and when you pass away, the money is given as a lump sum to your grieving loved ones that you included in the package. Term insurance works quite differently in that it only works for a set period of time. You choose the time period, lets say 10 years, and if you die in that timescale, the money is given to your loved ones, again in the form of a lump sum. What happens though if you outlive the 10 years? Well, unfortunately, your loved ones don’t receive the money. But don’t blame yourself. You’re a machine! You’re invincible!

So why not go for the most logical whole of life cover? Surely it’s the best option. Well unfortunately like all good things that are too good to be true, it has a catch. It’s far more expensive to you than the term insurance proposition which is why it’s more popular with the majority of the general public.

Life insurance also doesn’t include disability and illness. You will have to get other forms of insurance for this. Life Insurance just focuses on death and the causes of it. But watch out, there is a chance that you as a family won’t receive the money if the person died from drug or alcohol abuse. So make sure they are as healthy as can be! You should be doing that anyway though, shouldn’t you.

keeping-your-heart-healthy

If you’re working and you check your contract, it might include a feature called ‘Death in service’ benefits. This could mean that some of your salary is coming out of your paypacket and going straight into your life insurance fund so you may not have to apply for added insurance. The best thing to do is discuss it with the powers at be or get it checked over professionally. You can’t cut corners on important matters such as this one. Be meticulous. Be sensible. However, this policy only lasts as long as your tenure at this particular place of employment so you may need to look at other insurance options if you do indeed leave and go elsewhere.

Life insurance is just one of many types of insurance that we must consider. Our life is worth insuring, though, isn’t it?

 

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