A lot of us think that investing in a life insurance cover is a big burden. This info is particularly for them. Statistics suggest that one in four breadwinners in the UK lacks ตัวแทนประกันชีวิต AIA. This is an alarming ratio as the families would be left to live a financially unstable life in case of the breadwinner’s death. This means almost one fourth of British families live under the potential risk of facing an financial crisis. As being a solution, the support from NHS or other government schemes could be taken. However, all government support might not be enough for the education of kids, rentals, medication for critical illness or other basic facilities.
Find here some of the myths related to buying a life insurance policy:
life insurance is made for the guy!
Market research implies that 45% of British men and 38% women are insured for a life cover. Again, both percentages are very low. Moreover, its general psyche that women who do not earn usually do not feel the pressing necessity of an insurance. It had been observed by Cancer Research more and more than 130 women die each day as a result of breast cancer. With such a lot more women health issues, women should never keep themselves without having a life insurance cover. Again 1 in 3 people is probably going to are afflicted by critical illness. This way, life insurance cover is essential for women and men alike. Ignoring a life insurance policy could prove fatal as the family would be left with lots of financial burdens.
Contents insurance is enough!
Contents insurance is enough! This really is another misconception. While we get our car, house, laptops along with other accessories insured, we tend take for granted the most important part of the family i.e. its members. Losing a relative especially if one was actually a breadwinner may result in a sudden financial crux. All your family members might need to manage for money needed for the daily needs. Thus, even when you have contents insurance it is usually important and urgent to purchase yourself a life insurance cover. You will never know the future but may certainly get ready for your worse.
Mortgage cover would do!
Mortgage is a very common thing throughout the uk. Individuals who have a mortgage should also get a life cover in order that in case of their accidental death, the insurer would spend the money for remaining mortgage amount. The facts do not indicate any such awareness in the Brits. Statistically, nearly 50% of men and women possess a mortgage with no associated life cover. All of these facts and figures bring out the significance of life insurance. Whether it be a preexisting mortgage, a crucial illness or death, a life cover helps the beneficiaries to control the economic situation easily and comfortably. The lump sum payment amount received from insurer helps with investing in the funeral cost, mortgage, debts or other family expenses.
Factors behind a life insurance policy:
To back up you in the event of a critical illness
To support the household in the event of the breadwinner’s death
To control funeral along with other expenses
For financial support to the family in the future
For paying educational expenses of the kids
For mortgage repayments
Who needs life insurance cover?
Anyone who has dependents
Newly married couples
Parents with a new born child
Every family that plans for the future
A retiree using a dependent partner
If you have a home loan
Varieties of life insurance covers:
You can find various kinds of life insurance policies in the UK. Depending on the age, health insurance and occupation, the lifestyle covers are categorised to the following types:
Term insurance: This cover gives your daily life assurance for a pre-decided and specified interval of energy. In the event the policyholder dies within this time frame then your beneficiaries would get a lump sum payment amount. Otherwise, the plan will lapse.
Group life cover: It is provided as part of an entire employee benefit package. This cover is for those who die when they will work with the employer. It is not necessary that the death should have happened during the work hours or in the office premises.
Critical illness cover: This life insurance cover is bought if an individual has a particular medical condition. If you die because of some other disease or ailment then the policy would lapse.
Over-50 plans: Specially designed for people who have crossed the 50 year mark, this cover pays money that can be used for various financial needs of the beneficiaries. As the policy is taken after 50, you can expect higher premiums.
Whole of life plan: Provides you with cover for entire life. It is the best cover to fulfill your debts or could be left to someone you care about whenever you die.
Reasons why people usually do not buy life insurance cover:
Lack of awareness: If you think that a specific illness or cancer cannot eventually you then you live in an illusion. With an increasing chance of sickness and critical ailments, one cannot afford to believe that ‘this won’t occur to me’. This can be absence of awareness and such a biased optimism may grow to be fatal. A life cover works well for everyone and it is much needed by healthy people with dependents.
Too expensive: The premiums would feel nothing in comparison with the expense of your life and the quantity of damage your death can cause in your family. A small monthly investment as premium will give one time payment amount in the event of the policyholder’s death. The return is much higher as far as life cover is concerned. So, there is absolutely no point thinking that it must be costly.
Government support is sufficient: A lot of us believe that NHS along with other government schemes would be enough to facilitate the dependents. Well, please check with the relatives and buddies of individuals who have lost someone you care about and who definitely are living on the Government’s support. You will quickly realise that the help is insufficient for the financial expenses in the family. In case your partner is suffering from critical illness then the NHS service might not be enough therefore, an individual insurance is a must.
Better save than insure: Couple of us have a mind-list of savings. In their opinion a decent amount of saving can replace a life insurance cover. Savings may not be the most effective idea as it takes a longer period to accumulate a large slice of money. Forever insurance covers, we might need to pay monthly or yearly premiums but the total amount received in turn is a lot pkisuj than the premiums paid. By doing this, insurance gives a lot more return of investment than savings.
Considering the advantages and disadvantages, ตัวแทนประกันชีวิต seems much more reliable than any other method of ensuring the wellbeing from the dependents and family members. In case you have not insured yourself yet then it is about time to get yourself insured so that your demise may not prove fatal for the family. Therefore, do not ignore purchasing a life insurance cover as it might be the most effective assistance to the household in the case of your permanent absence. Isn’t it?