Home     Forum     401k     401k Rollovers
    Register   Login   Members   Search   FAQs     Recent Posts    




Why you need Life Insurance?

Reply to topic
Money Talk > Personal Finance

Author Thread
sethm
Member


Cash: $ 3.80

Posts: 19
Joined: 07 May 2012
Location: United States
 Reply with quote  

I think the primary benefit of life insurance is that the financial interests of one’s family remain protected from circumstances such as loss of income due to critical illness or death of the policyholder. Very Happy
Post Tue May 15, 2012 4:37 pm
 View user's profile Send private message
Stuart Mackenzie
Member


Cash: $ 2.50

Posts: 12
Joined: 25 Apr 2012
Location: Norfolk UK
Winston Churchill's view on life assurance  Reply with quote  

“If I had my way I would write the word ‘Insure‘ upon the door of every cottage and upon the blotting book of every public man, because I am convinced for sacrifices which are inconceivably small, families and estates can be protected against catastrophes which would otherwise smash them up forever. It is our duty to arrest the ghastly waste, not merely of human happiness, but of national health and strength, which follows when, through the death of a breadwinner, the frail boat in which the family are embarked, founders, and women and children of estates are left to struggle in the dark waters of a friendless world"

As a financial adviser for the last 25 years I have seen the consequences of a lack of life assurance (disastrous) and the consequences of a properly insured breadwinner dying - no financial stress or worries for the surviving spouse and they can concentrate on handling the personal grief knowing that there is not financial ruin as well.

I do not know about the life insurance market in the United States of America that here in the United Kingdom there is a relatively little-known o type of life assurance called Family Income Benefit. It is dirt cheap and yet provides a tax-free income from the date of death of life assured until the end of the agreed term. In my opinion an absolute "no-brainer" that anybody who wants to ensure that their surviving spouse or partner can continue to live in the manner that they have been comfortably used to.
Post Tue May 15, 2012 5:29 pm
 View user's profile Send private message
indieagent
Member


Cash: $ 2.40

Posts: 10
Joined: 22 May 2012

 Reply with quote  

A life insurance coverage is definitely one of the best investments you can make for your family. You may resent having to pay a monthly premium but at least you can be sure that your family's financial security won't be compromised in the event of your death.
Post Wed May 23, 2012 7:49 am
 View user's profile Send private message
safariride
Member


Cash: $ 1.55

Posts: 22
Joined: 20 Jul 2011

 Reply with quote  

If you are getting a % from a deposit, you interest rate determines how big of a "bonus" you get each year. this normally makes peanuts, unless it's really a shitload of money on your account and you have to wait years until the sum multiplies.

The thing that is different about life insurance is that if one invested say 300K into a LI, (s)he will get 900K even if (s)he passes away the next day.

yeah, wish you guys a long life but just saying once I saw this one as a hot topic here.
Post Tue May 29, 2012 2:37 pm
 View user's profile Send private message
kandhoshlo
Member


Cash: $ 2.00

Posts: 10
Joined: 03 Jun 2012
Location: Mexico
 Reply with quote  

All anyone would want is to secure their family financially. Life insurance does this. It helps you to ensure that your family is financially secure at all times.
Post Tue Jun 05, 2012 8:28 am
 View user's profile Send private message
Anne Land
Member


Cash: $ 3.05

Posts: 14
Joined: 11 May 2012
Location: Auckland
 Reply with quote  

Life insurance provides a lump sum in the event of death to cover mortage , family income. It provides the lump sum required to cover all debts to ensure your family or business is not left in a precarious situation. Once you have built up your savings you can decrease the amount of cover. It is so important when you have young family, as it is hard enough learning to live without someone you love, but if you have added financial pressures, life is not good.
Post Mon Jun 18, 2012 10:26 pm
 View user's profile Send private message
jamescruz
Member


Cash: $ 4.70

Posts: 23
Joined: 16 May 2012
Location: CALIFORNIA
 Reply with quote  

Life insurance is certainly very important and everyone should get their life insurance done. It takes care of our family's financial needs when you are no more. Life Insurance also protects your assets and is a great investment choice. An ideal time to buy life insurance is when you're healthy because you'll pay less. Other factors to consider when you're deciding on life insurance is medical expenses, your children's age, whether you're the sole income earner and funeral expenses, among others.
Post Wed Jun 20, 2012 4:59 am
 View user's profile Send private message Visit poster's website
Liopfiqer39
First Time Poster


Cash: $ 0.20

Posts: 1
Joined: 28 Jun 2012

 Reply with quote  

Funny you don't understand that. The risk that people insure themselves against is the risk of the loss of the deceased's income and the unexpected financial burden upon the survivors. In other words the risk of SURVIVING.
Post Thu Jun 28, 2012 6:07 am
 View user's profile Send private message
MargueriteSmithas
New Member


Cash: $ 0.60

Posts: 3
Joined: 30 Jun 2012

 Reply with quote  

i dont think you need such kind of things if you have wealthy back ground these are for those people which are not much wealthier so that if they die their family gets all the benfits
Post Sat Jun 30, 2012 9:06 pm
 View user's profile Send private message
Sabrina Gage
Preferred Member


Cash: $ 27.20

Posts: 133
Joined: 31 Dec 2010
Location: Canada
 Reply with quote  

Nowadays, the importance of having a life insurance is more and more prominent. It pays you back when you get old. The more you invest, the more you get paid back when you retire or reach a certain age.

http://emailmarketing.comm100.com/
Post Wed Jul 04, 2012 1:35 am
 View user's profile Send private message Visit poster's website
WisdomF
New Member


Cash: $ 1.40

Posts: 7
Joined: 19 Jun 2012
Location: Dubai, UAE
 Reply with quote  

It is wise to have a good health insurance plan not just with a basic coverage but preferably with full coverage to avoid an unexpected large bill.http://mywealthdesire.com/financial-tips-expats/
Post Wed Jul 04, 2012 1:46 am
 View user's profile Send private message
tlyhr
New Member


Cash: $ 0.60

Posts: 3
Joined: 11 Jul 2012

 Reply with quote  

All anyone would want is to secure their family financially. Life insurance does this. It helps you to ensure that your family is financially secure at all times.
Post Wed Jul 11, 2012 6:58 pm
 View user's profile Send private message
tlyhr
New Member


Cash: $ 0.60

Posts: 3
Joined: 11 Jul 2012

 Reply with quote  

All anyone would want is to secure their family financially. Life insurance does this. It helps you to ensure that your family is financially secure at all times.
Post Wed Jul 11, 2012 6:59 pm
 View user's profile Send private message
seema12
New Member


Cash: $ 1.00

Posts: 5
Joined: 19 Jul 2012
Location: india
 Reply with quote  

No one wants to leave their family financially insecure for the future.Life insurance is to protect your family and other people who may depend on you for financial support.
That's It.
Post Thu Jul 19, 2012 8:34 am
 View user's profile Send private message

Goto page Previous  1, 2, 3, 4, 5  Next
Reply to topic
Forum Jump:
Jump to:  
  Display posts from previous:      





Money Talk © 2003-2018