In general, people buy insurance because they want to obtain peace of mind by having insurance cover for their risks on properties or assets. However, there is one risk which received the least attention from the general public but is inevitable to everyone at some time in their lives, which is DEATH!
The fact is regardless of your family circumstances or your age, life insurance is the cornerstone of sound financial planning for every family. Eveybody who will have someone mourning for them after his/her death, should consider life insurance. Loosing a loved one is devastating enough without the added worry of financial burden. Life insurance will help ease this heavy burden from your family and loved ones.
In a nutshell, life insurance is a unique tool which can be benefit everybody in the following ways:
1. Replacement of Income
2. Funding For A Child’s Education
3. Source of Cash In Case Of Emergency
4. Pay Final Expenses
5. Create A Savings
Having said that, the benefits of life insurance is not restricted to the above only. Depending on circumstances and needs of individuals, there are many different types of life insurance one can opt for. To know what best suits your needs and requirements, you can talk to a Personal Financial Planner like me ;)
To end this post, here’s a quote from Andy Warhol to share wth all….”Dying is the most embarrassing thing that can ever happen to you, because someone’s got to take care of all your details”.