Life insurance and why one should have it

22 May 2013 - James Larkin

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Life insurance and why one should have it

With a life insurance you protect your loved ones.    Nobody who is the main earner of a family should do without it.

Imagine you have a family with small children and the dreadful happens, due to an illness or accident, and you're not there anymore.   The grief alone will be unimaginable, but over the years the family will come to terms with it, and they will miss you, but continue life in the best way possible.

What happens without life insurance?

If you have not taken out a life insurance, then to continue life in the best way will probably be impossible for your family.   Particularly if children are still in education, if mortgages have to be repaid, and any other existing financial obligations looked after, the death of the main earner of the family can result in financial disaster.

This is why life insurance is a must for any young family.   A life insurance provides cover for the family’s income in the event of your death and will guarantee financial security for your loved ones.

Life insurance policies can be taken out as protection for the entire life of the insured person, or you can take it out for a set period of time, like for example until your children have completed their education.    One also can take out a so-called endowment insurance, with which for a certain time the risk of death is covered for, and later the money is paid back plus the interest which has built up during this time.   This kind of life-insurance is an ideal option to save money for one's own old age.



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