Dedication to helping consumers make smart insurance decisions


Four Perils of life and how life insurance can help

No comments
Four Perils of life and how life insurance can help -
Although there are many roadblocks and detours in life, there are certainly dangers also.
roadblock
Here are four that relate to your financial life and your need for life insurance
Peril 1: Dying too soon ..
We all know someone who died at a young age. There are tragic stories of people in the prime of their lives that pass, like the Good Samaritan Preston Newby, who was hit and killed while delivering aid, leaving behind a young wife and two son. You can watch his story here.
Although the statistical probability of death at an early age is low, the financial consequences of not plan this possibility can be high. The youngest of the family, the more protection you need in general. Often, there are still student debt and a mortgage, as well as spending daily life that must be taken into account. Younger children will require years of care and future educational needs. Life insurance financially protects the family you love
Peril 2: Living too long ..
In light of medical advances, we are living longer than ever. This means that the planning of a long retirement. In the past, planning for a 15-year retirement was common. Now it can be 20, 30 or even more. You can have a greater number of years in retirement than the actual number of years you have worked. This means that the need to save is critical. A permanent life insurance policy can provide a cash value that can be used to supplement your retirement income
Peril 3: Become invalid ..
The statistics tell us that in our years of work, it is more likely to become disabled than to die. That is why disability insurance is so important. It ensures that if you are unable to work due to illness or injury, you continue to receive income and make ends meet until you are able to return to work.
In addition, many life insurance contracts used to add a disability waiver to cover certain costs in case of total disability. We have already established that life insurance is an important asset, but if you become disabled, you may not be able to afford it. Permanent insurance of life with an exemption for disability premiums can help keep the policy in force and continue to provide the peace of mind you need
Peril 4: .. Needing long term care
You are also facing concerns about the cost of long term care. You may need changes to the house or to develop dementia and Alzheimer's disease. These costs are not covered by insurance or ordinary illness Medicare. nursing home stays or costs of home health care can have a detrimental effect on your wallet.
What if you were forced to access your retirement funds to pay for long term care needs? Do you always do what you need for the life of retirement? Instead, a permanent life insurance policy with a rider of long-term care can provide payments to help cover the costs of long term care.
Life insurance, particularly a permanent policy that provides flexibility to meet your changing financial needs, is an important financial consideration. An insurance agent or financial advisor can help walk you through your options and get the right policy for your needs.

No comments :

Post a Comment