Many people, from the young to the elderly, think they don't need any type of life insurance.
Why? Well, here's an example.
We'll call our guy 'Gordon'.
Gordon has life insurance through his place of employment.
He feels that it is all he needs.
Now, what if Gordon leaves that job or he retires?It is more than likely he will lose that life insurance policy.
So here's why Gordon needs additional life insurance! Employer's and insurance companies work together and agree on a one set 'group' rate for all employees.
Now let's say that Gordon is in perfect health but, his co-worker, Frank, (as we'll call him), is not in the best of health.
What Gordon may not realize is that he is paying higher premiums because he is paying a portion of his buddy Franks premiums.
Remember, one set 'group' rate for all employees.
Healthy or unhealthy.
This is just an example to give you an idea of how it works.
Let's say the insurance company's usual rate is $50 per week for a healthy person and $100 per week for an unhealthy person.
The insurance company and your employer select a set 'group' rate for every one at $75 per week.
In reality, a healthy employee is paying $25 per week of the unhealthy employee's premium.
Here's what Gordon needs to do.
Forget about his company life insurance policy.
He can take control by taking that same $75 per week out of his paycheck and put it towards a policy that he has selected for himself.
A policy that is custom made just for him.
And as long as he pays his premiums, he is never in fear of losing this life insurance policy.
Here's another example of why life insurance is so important: We all know how vital it is to have life insurance to protect our families.
However, just because you are young, single, have no children, and you don't own your own home, does not mean you don't need life insurance.
Granted, you don't need as much as someone with a home and Dependants.
You still should have some sort of life insurance.
What if you were to unexpectedly die at a young age?You have no life insurance to cover your final expenses such as burial costs, debts you may have accumulated, etc.
Who do you think this burden of payment will fall on?Most likely your parents.
And what if your parents are on a tight, fixed income? Funeral costs alone can reach up to $10,000.
Would you really want to leave that financial stress on them?A healthy individual, say in their 20's, can get a 10 year, $200,000 life insurance policy for as little as $10per month.
(These rates may be different depending on your gender and the insurance company).
I think that is a very small price to pay for your parent's peace of mind.
Even young married couples who have children should still have life insurance.
The unexpected happens! You could die suddenly without any warning, leaving all those final expenses to your spouse.
Starting a whole life insurance policy at a young age is important.
Over the years, this policy will become a nice little nest egg in your retirement years.
Those benefits will be there for you should the unexpected happen.
A retired person really needs to consider some sort of life insurance.
Just when you think you are well set, no dependents, no more mortgage, debts are all paid off.
Here come the unexpected.
You become seriously ill.
You spend weeks, perhaps months in the hospital.
Then, you die leaving hundreds of thousands of dollars in medical bills.
Without life insurance, your surviving spouse would be responsible for this huge debt.
It is shown that 1 out of 3 people in this country are not prepared for retirement! You can find a cheap life insurance quote if you take the time to compare.
Why? Well, here's an example.
We'll call our guy 'Gordon'.
Gordon has life insurance through his place of employment.
He feels that it is all he needs.
Now, what if Gordon leaves that job or he retires?It is more than likely he will lose that life insurance policy.
So here's why Gordon needs additional life insurance! Employer's and insurance companies work together and agree on a one set 'group' rate for all employees.
Now let's say that Gordon is in perfect health but, his co-worker, Frank, (as we'll call him), is not in the best of health.
What Gordon may not realize is that he is paying higher premiums because he is paying a portion of his buddy Franks premiums.
Remember, one set 'group' rate for all employees.
Healthy or unhealthy.
This is just an example to give you an idea of how it works.
Let's say the insurance company's usual rate is $50 per week for a healthy person and $100 per week for an unhealthy person.
The insurance company and your employer select a set 'group' rate for every one at $75 per week.
In reality, a healthy employee is paying $25 per week of the unhealthy employee's premium.
Here's what Gordon needs to do.
Forget about his company life insurance policy.
He can take control by taking that same $75 per week out of his paycheck and put it towards a policy that he has selected for himself.
A policy that is custom made just for him.
And as long as he pays his premiums, he is never in fear of losing this life insurance policy.
Here's another example of why life insurance is so important: We all know how vital it is to have life insurance to protect our families.
However, just because you are young, single, have no children, and you don't own your own home, does not mean you don't need life insurance.
Granted, you don't need as much as someone with a home and Dependants.
You still should have some sort of life insurance.
What if you were to unexpectedly die at a young age?You have no life insurance to cover your final expenses such as burial costs, debts you may have accumulated, etc.
Who do you think this burden of payment will fall on?Most likely your parents.
And what if your parents are on a tight, fixed income? Funeral costs alone can reach up to $10,000.
Would you really want to leave that financial stress on them?A healthy individual, say in their 20's, can get a 10 year, $200,000 life insurance policy for as little as $10per month.
(These rates may be different depending on your gender and the insurance company).
I think that is a very small price to pay for your parent's peace of mind.
Even young married couples who have children should still have life insurance.
The unexpected happens! You could die suddenly without any warning, leaving all those final expenses to your spouse.
Starting a whole life insurance policy at a young age is important.
Over the years, this policy will become a nice little nest egg in your retirement years.
Those benefits will be there for you should the unexpected happen.
A retired person really needs to consider some sort of life insurance.
Just when you think you are well set, no dependents, no more mortgage, debts are all paid off.
Here come the unexpected.
You become seriously ill.
You spend weeks, perhaps months in the hospital.
Then, you die leaving hundreds of thousands of dollars in medical bills.
Without life insurance, your surviving spouse would be responsible for this huge debt.
It is shown that 1 out of 3 people in this country are not prepared for retirement! You can find a cheap life insurance quote if you take the time to compare.