My husband and I are starting to think about getting life insurance. I guess we should have had life insurance all along, but we just couldn’t afford it prior to this.
When I was a teenager and in my 20’s I had a life insurance policy, but it was one that you could cash in and of course as soon as I really needed money I cashed in my policy and never got a new one.
I’ve been trying to decide what kind of policy would be best and I’m totally lost. I think I need to spend some time looking at the life insurance dictionary so I can figure out all the terms they use for life insurance coverage.
Do any of you know anything about life insurance? Care to pass on some advice?
In my opinion life insurance is really important for our life. Life insurance is a financial product that few of us like to think about. We would all like to believe that we are going to live forever, however there comes a point when reality needs to step in and plans are made for the inevitable. Life insurance is intended to provide some level of protection for financially interested parties should the worst happen. This means that cover can be provided for others who will become financially disadvantaged by the death of the insured person. By taking out a life insurance policy, dependents will not have to deal with all the additional hardships which can be caused by the monetary loss of the insured’s income or productivity. That’s all
Yes Golf Swing, that’s exactly why we’re looking into insurance policies. I’m hoping that my husband and I will be around for years to come (decades!), but you just never know and us each having a policy in place would make it a little easier to get by should anything happen to either of us.
u apparently don’t know about 2012
LOL Arnel! Yes of course I know about 2012, but I don’t necessarily have to believe it will happen.
Thanks for the best comment of the day!
Hmm… I think you should have kept the plan when you were young, I mean, I know it’s tempting to just cash it in but life insurance is one of those things that we’ve got to have in this day and age. When you get your new plan, PLEASE read the small print because some plans can really be unfair. You’ve got to know exactly what you’re getting yourself into, even if you have to use a solicitor. Good luck.
I think you should choose the policy that can benefit you at old age. As there are some insurance companies that takes you money up to 20 years and when you get retirement it delivers you monthly your last pay till you are alive and your actual amount is also saved.
I always tell people to consider 3 aspects before making a decision on life insurance:
-What will make me sleep at peace tonight?
– What does my current circumstance demand of me right now or in the future?
– What is the responsible thing to do given your circumstances.
Answers on these questions will definitely nudge you in the right direction.