Life Insurance companies are offering attractive options for consumers who want to protect their dependents. However, some people delay the purchase of a life insurance policy until it is too late. Since thinking about your own mortality is not pleasant, some people try to avoid contemplating thoughts of their own demise. For example, as W. Somerset Maugham said: “Dying is a very dull, dreary affair. And my advice to you is to have nothing whatever to do with it.”
It is, as if by avoidance, we can delay having to face the fact that dying will happen to all of us. Our daily routines continue, and we make new commitments, while not knowing whether our lives will end prematurely.
The motivating factors for people who do finally make the decision to purchase a life insurance policy usually coincide with the experience of a major life-altering event such as: getting married, starting a family, or purchasing a home. In fact, there are many other good reasons for purchasing a life insurance policy, and included among those reasons are that you will enhance your sense of personal security. In fact, since their inception, life insurance companies have largely been about transferring risks, thus providing their policyholders with the ability withstand any unplanned personal- financial emergencies.
Can you even imagine the anxiety of driving on the freeway without auto insurance? All of us know that at some point an accident is almost inevitable. But if you are insured, your car will be repaired or replaced by your insurance company, and your medical bills will be paid. A Life Insurance policy will also provide money for expenses that you incur after your death. In fact, life insurance companies are in business to insure your survivors against suffering the harsh financial consequences of facing your funeral and medical bills. And when you pay your life insurance company premiums, you are responsibly ensuring that your family will be safe from the effects of losing your contribution to the household income. What is it worth to be sure that your family won’t have to uproot their lives and change their living standards in the event their income level is affected by your premature or unexpected death. A life insurance policy will allow you to continue driving through the highway of life, without having to suffer the anxiety of wondering what will happen to those who depend on your earnings. And being insured will prevent you from suffering remorse and regret when you come to the realization that your loved ones will not be financially protected at a time when they most need the income you provide.
Most people really do not want others to be held responsible to pay off any outstanding debts that were incurred during their lifetimes. A life insurance policy makes good sense because the proceeds can be used to pay any money owed, such as credit card debt, leaving your loved ones in a better financial position. Moreover, life insurance companies will advise you that the tax-free proceeds from a life insurance policy will provide your loved ones with a tangible expression of your concern and thoughtfulness.
In regard to purchasing a life insurance policy, we are setting an example of responsibility and caring. The life insurance company, that you have chosen, will be there to provide secure cash to pay for any debt you leave, a wedding, a down payment on a home, or funds to finance an education. In effect, a life insurance policy will provide you with a real ability to have a positive influence on the future of those you love.