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| The Importance of Life Insurance |
By:
Protezione Di Vita |
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Life insurance makes it a little easier for the surviving
family. It means getting one's self-insured so that, the
family or the nominees of the policyholder become entitled
to compensation in the wake of the death of the policy-
holder. However, the insurer has to pay premiums for a
certain period of time for this. The amount and the interval
of paying premiums differ from policy to policy and company
to company. It also varies from person to person.
There are two main types life insurance: term life and whole
life insurance. Term Life insurance is for a given period of
time. It means that the company will compensate if anything
happens within the given period. The policy may be of two,
five, ten years or whatever the company policy is. When the
period gets over, the company would pay some part of your
total premium as maturity amount. Whole Life Insurance
covers for whole life. The premium is higher for this type.
Just because, you are healthy now, does not ensure anything
for the future, as no one knows when a disease may strike.
So the company bears the risk for that and charges a higher
premium in this case.
Whether we need life insurance or not is becoming a hot
debate. Many say that there is no need of life insurance if
nobody is dependent on your earning. They also opine that
the children and senior citizens don't need insurance at
all. However, other group argues that it is a kind of
saving, thus they don't see anything wrong in increasing
their savings with the life insurance.
However, insuring children and newborn babies involve
certain emotions. To some people, insuring children means
to have intent to get back some part of the amount you have
already spent for your beloved son or daughter. Others are
of the opinion that we are living in a very trying and
expensive days; anybody can imagine how costly childcare
is these days. In case, your insured children grow up strong
and healthy, it can provide some financial back up to their
further studies or business. It can also make it easier for
them to get their life insured in the later part of their
life.
Getting life insurance is not for everyone. If you are
unfit or unhealthy you may experience problems obtaining
life insurance. Chain smokers, heavy drinkers and over-
weight people are the worst affected of the lot. Giving up
smoking and drinking is the only advice to them. It is
advisable for the obese people to lose some weight. They
should also take an account of their blood pressure and take
medicines to control that in time. The buck does not stop
here, they need to do some workout, control blood sugar and
check up their bodies regularly.
Protezione Di Vita is the proprietor and editor of World
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