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Importance of Life Insurance

5/2/2012 6:19:46 PM | by Anonymous

Insurance

Death is an inevitable event no matter how much we want to avoid it. You can try to live cautiously but I bet that would be an uninteresting existence. There are a lot of ways to enjoy life like trying out extreme sports and traveling to unfamiliar places. If you are not an outgoing type of person and prefer spending most of his time at home, you still can not say something will not go wrong. To somehow relieve you from anxiety for unexpected things that might happen, you will need some form of insurance.

 

Life insurance is a coverage that gives compensation when an accidental death or permanent disability in the insured occurs. It is an unselfish type of insurance because its benefits will be mostly received by beneficiaries and not the owner. A person often apply for this policy when he is in the process of engaging in a major life changing event such as getting married and starting a family. This applies especially to people whose family members have no one to rely to but the insured. Life insurance works by making sure your outstanding debts are paid including the cremation and burial expenses. This prevents your family members from being overburdened in your absence. Dependents would not have to sell assets to replace the income of a loss wage earner and would still receive enough after the insurer pay off all debts and expenses. An important advantage of life insurance is that the proceeds will be given to the beneficiaries tax-free.

 

Our existence will be more meaningful if you live it to the fullest. We would not know when our time will come so it is better to spend the most out of it while we still can. In case our luck fades and have to leave this planet, we can still extend our love and concern to our remaining family member through the financial security brought by life insurance.

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