No-medical Life Insurance: To Buy or Not to Buy?
1. It isn’t as costly as a treatment in case of emergency
In the budget plan of a young family, things like daily purchases and car maintenance gobble up a decent amount of the cash every month, so many individuals feel that life insurance is simply outside those "necessities" when cash's tight. Mind two things: life insurance is usually not so costly as you may think, particularly when you can get a decent policy for a lower price than an espresso cup in some bistro. You can live on shoelace budget, but imagine a scenario when something happens to you: where will you get money then?
2. It isn’t just stuff for infants and elderly individuals
Although babies and the elderly are under particular risks, adults face their own threats and dangers. The reality of the situation is that there are certain insurance packages for old people and infants that cover some age-specific situations. Similarly, there are numerous insurance options for grown-ups in their working years. Are you sure you will be able to avoid all risks?
3. You might be healthy as a bull, but things still happen
You eat right, you remain physically active, and everybody admits you’re always in a good shape. You passed the medical examinations without a hitch! That is awesome! But keep in mind that our health is not everlasting, not indestructible.
Not that sometimes unpredictable might happen to you – however it could – even when you’re at your best form. But think of it: when you’re young and healthy, there's no better time to secure your friends and family. If you suddenly fall sick or suffer from some serious trauma, it will make it harder to get that sort of insurance, if any whatsoever.
4. Life insurance through a job isn’t reliable
Some people are offered life insurance as a perk of their work – and frequently, it's the first occasion when they deal with insurance and have no clue that a $50,000 policy isn’t as much as they think it seems to be. It sounds like a great deal of cash until you assume that it needs to cover some or all expenses, which is a huge amount of money. In addition, if you lose your job, you won’t be able to claim for any compensation at all.
5. Don’t have kids? It doesn’t decrease the risks
Without a doubt, kids are the main motivation for some people to get life coverage. But it’s not the only reason for requiring insurance. If there is anybody in your life who might experience the impact of your misfortune—your partner, sibling, parents — life insurance will guarantee that everybody's still OK even if something bad happens to you.
6. Don’t put until tomorrow – it may be too late
Of course, there’s no due date for buying life insurance, no regulations or legislature dictates us when to buy it. Your parents may have never informed you about its significance, and it's positively not the most animating theme for discussion. But don't let your "in the long run" transform into your friends and family's "if only."
All this sounds overwhelming but use common sense. Keep in mind that you can always arrange a consultation with a specialist—at no expense. They will figure out the insurance amount you may require, and discover a policy that fits into your financial plan. If you don't have a specialist, you can try an online Agent Locator to find one in your town.
One can never predict what’s going to happen soon – we are not omnipotent. If you don’t want to regret tomorrow, buy life insurance today. Its cost might be justified by the money it saves you in case of unknown unknowns.