Every second is another risk. In fact we live in perpetual risks and until you discovered your living is worth insured to protect those who would suffer in case you drop dead, you won’t really appreciate going for a life insurance cover!
We take insurance policy against a perceived risk, which if happened; we can’t bear for face the accompanying losses. You should be concerned about what will happen to your immediate dependants, all those looking up to you today, God forbid, if the end comes right now. Let’s look at the follow 3 reasons to determine if you really should consider taking a life insurance policy.
As you grow in life, both in age and income, you will notice that certain things about your life keep changing and demanding more of your commitment. If your status means you are raising a family, if it means you are going into joint business ventures with some other persons, if your status means you are getting more involved in social services; and if your social status means you are getting involved in community development. Then, you will need to insure your activities in a way that all the dependencies you are building by way of your elevated social presence, need to be protected even after you are gone and are really sure to be.
2.Protection for your loved ones
It does not matter if you have a family or not, your loved ones could be just anybody or anything you have been involved with as your status climbed on the social and economic ladder. The loved ones need you to look out for them even in death and it’s a joy of comfort, having the peace of mind that in the event of death, your loved ones are fully covered against any unpleasant crises.
Such problem may be your mortgage, to ensure that in the event of death your loved ones won’t become homeless, or in the event of death, your loved ones on scholarships won’t lose their scholarship. Or in the event of death, your part of the family’s income won’t stop coming that may result in your family suffering.
3. Replace partner share of joint income
With life insurance cover, your business partnership won’t hit the rock. Or if you have a special counterpart contribution to a mortgage or in running a business, you are sure that in the event of death, your part of the contributions won’t lead to crises that may mean losing an entire investment because of lack of funds to push on.
The reason many do not buy into the idea of life insurance is the thinking that it’s a waste of hard earned money. Yes, it looks so and indeed, if you do not think deeper beyond the periphery of life activities, you won’t appreciate taking life insurance policy, but just look around you and see people of equal social and financial standing as you, who died recently without a life cover, what’s the state of people they left behind?