Essential Life Insurance

For anyone with a family, Life Insurance is something that should really be taken seriously.

It’s is a lump sum payment to your family in the event of your death or upon being diagnosed with a terminal illness.

And unless you own your home, you’re family could be in real trouble if you don’t have Life Insurance to cover the mortgage and living expenses.

The Income Stops but the bills still need to be paid…

There are two events that you need to cover your family for… 1. In the event of your death, and 2. In the event of a terminal illness.

If you are diagnosed with cancer, or other terminal illness, you’re going to need funds to cover the medical treatment. And if you don’t have insurance, you could end up needing to sell the home to pay for them. That leaves your family in a very difficult position.

Life Insurance shouldn’t be considered as a cost… it’s protection for your family. If you have a family, and you don’t own your home, you should really consider getting Life Insurance Cover.

Starting early with life insurance has it’s benefits…

Depending on the policy, you may be able to lock in premiums at a much lower rate if you take out the policy in your younger years. For example, the average cost of a 30-year term policy with a $100,000 insurance amount is about $156 per year for a healthy 30-year-old male. By contrast, the annual premium for a 40-year-old male is about $216. That’s an additional cost of $1800 over the life of the policy simply because it was taken out at an older age.

Plus, if you are injury but still able to work, taking out a policy after the injury will likely mean the insurance company won’t cover that injury. For example, say you hurt you back but it’s not bad enough to stop you working. When you take out the insurance policy they will ask about preexisting conditions and will likely not cover you if you later have to stop work because your back injury worsens.