Insurance of any kind is a highly responsible activity and life insurance is no exception to the rule. It is a puzzle that why people treat this subject so casually. Do you know that every individual has seven stages in his life which have to be protected against contingencies? Insurance is a game which only the smart and brave can play.
Insurance premiums grow year after year when you are active. It comes back to you as living benefits when you retire. It acts as your family's anchor when you pass away. Can you ask for a more dependable supporter than life insurance as you start at 25 and reach 60?
Imagine the consequences of neglecting life insurance. You take your first insurance cover when you get your first job. However insufficient the cover might be, it introduces you to the habit of compulsory saving. For the first time your life has a monetary value attached to it. You are a bachelor and if something happens to you, death benefit takes care of your parents in the evening of their lives.
If you are lucky to survive as a physically handicapped person, the periodic payment of accident benefit sustains you and your family. If you fail here, only you will bear the blame.
Once you get married, you will settle down, have kids and grow in your profession. You try to give a certain status and a certain level of material comforts to your family. Your life has an added value now and your previous cover will be inadequate insurance. What will happen if you die? The edifice that you wanted to build for your family comes tumbling down.
No cover- no death benefit. Your savings are disproportionate to what your family needs especially now that you are no longer alive. How do you expect your spouse to face that world which she has seen with you beside her? From where will the money to educate your children come from? How will your spouse lead a respectable life?
So many unanswerable & uncomfortable questions for which there is only one answer- Had you appreciated your life's value, planned accordingly and apportioned your earnings responsibly into savings, life of your dear ones would have gone on smoothly after you died. Dying irresponsibly is worse than living irresponsibly.
If you feel that insurance is very expensive, just make use of online quotes to get the best possible deal. If you use online quotes, you will never use the excuse of high insurance costs to skip life cover.