Do you know what will happen tomorrow or in an hour or say in next few seconds? Answer is 'No'. We can't predict what's going to happen in future. But yes, we can plan for a better future. Our act in present is responsible for shaping our future - we go study hard so that we can get a nice job, lead a respectable life; earn money to live well; fulfill wishes and needs of our loved ones. But as an adult, have you ever wondered, what your family's life would be if you unexpectedly leave them behind? It is your responsibility to secure it, isn't it? The way to make sure that your loved ones remain protected even after your demise - is to plan a life insurance.
Here are the top 10 reason why you should spend money on life insurance:
1. You can't predict future: Death is a bitter truth which no one can escape. But dying suddenly - in an accident, by unexpected illness or even of natural causes - can leave your loved ones in big trouble. Nothing can replace you in their hearts, but planning ahead with life insurance can help them pay the mortgage, bills, even college costs, after you're gone.
2. Protect your loved ones: You work hard whole your life, just to make sure those you love - spouse, partner, children, family members - are taken care of. It's just as important to consider providing financial support for the future living costs of surviving dependents.
3. No debts on family: Life Insurance can help your dependents cover any financial responsibilities that are left after your death. Debt can be a tremendous burden, on top of the already emotional toll your absence creates in their lives.
4. Secure your home: If you are planning on purchasing a home or refinancing your mortgage, you may need term life insurance. You would not like to suffer your family to make mortgage payments without you.
5. Marriage: Being married means you will not only share your life with your partner but share the financial burden, too. A life insurance can take care of that financial burden so that your loved ones can maintain the same standard of living without you.
6. For a growing family: Becoming a parent for sure is one the world's most wonderful experience, but it can bring a strain on your financial balance. As any parent knows, raising a child can cost a fortune. As you add dependents it's crucial that you step up your level of life insurance protection to fit your family's needs.
7. Be prepared for emergency: If you develop a serious illness, you may not be able to get life insurance to the extent you need it - or at all. If you have a terminal illness, life insurance can provide you with financial support. Life insurance can also be used in case of emergencies by requesting a withdrawal or loan.
8. Take care of business: Life insurance isn't just for individuals. It can protect a business from financial loss, liabilities or instability in the case of the death of a business owner/partner.
9. It makes financial sense: Life insurance is considered a financial asset, which can help increase your credit and help you to get a loan or health insurance. Many policies have cash value, which even in case of bankruptcy cannot be touched by creditors.
10. Simply for peace of mind: No amount of money can ever replace a person. But more than anything, life insurance can help provide protection for the uncertainties in life. If you don't have one, find the right insurance plan now or even if you already have one, better to make sure it's up-to-date.
Source : http://timesofindia.indiatimes.com
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