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
jeffreymint
Preferred Member


Cash: $ 26.80

Posts: 131
Joined: 04 Feb 2011
Location: Kissimmee, FL
 Reply with quote  

To add more to the cons of Life Insurance, people have been getting into more extreme stunts or hobbies these days. To make your family feel secured, insurance can help. Plus, you yourself can feel less worried as well.
Post Wed Feb 09, 2011 6:49 am
 View user's profile Send private message Send e-mail
jeffreymint
Preferred Member


Cash: $ 26.80

Posts: 131
Joined: 04 Feb 2011
Location: Kissimmee, FL
 Reply with quote  

To add more to the cons of Life Insurance, people have been getting into more extreme stunts or hobbies these days. To make your family feel secured, insurance can help. Plus, you yourself can feel less worried as well.
Post Wed Feb 09, 2011 6:50 am
 View user's profile Send private message Send e-mail
RichS
Full Member


Cash: $ 19.10

Posts: 95
Joined: 02 Feb 2011
Location: Seattle
 Reply with quote  

Lots of good advice here about life insurance. People get confused about "life" insurance because they say "why is it called life insurance when I have to die before anyone is paid". That is exactly why it is called life insurance. The insurance is paid to the living to protect them. Maybe it should be called "living" insurance.

Life insurance is temporary protection for the family. Eventually, as someone else stated, you won't need to protect your family because they will become self sufficient. At that point in time you should have sufficient assets to handle any financial situations, a funeral, that the remaining spouse would have to handle.

There are, of course, exceptions to every situation which is why life insurance is a personal choice and should be based on each individuals own personal thoughts about how they want to use it.
Post Wed Feb 09, 2011 3:02 pm
 View user's profile Send private message
yahoosbingos
New Member


Cash: $ 1.00

Posts: 5
Joined: 11 Feb 2011

 Reply with quote  

You need life insurance to protect people in life that are left have to cope with their financial burden. If you are single or married. Life insurance occupies a unique space in the landscape of investment options available to a customer.
Post Fri Feb 11, 2011 3:10 pm
 View user's profile Send private message
justinblake
Contributing Member


Cash: $ 6.60

Posts: 32
Joined: 11 Feb 2011
Location: Los Angeles
 Reply with quote  

What I really think is that medical insurance is more important than life insurance. I mean, we worry about what happens to the spouse and the kids when we're no longer around... But I think we should worry about what happens before we actually die. We have to accept it... we get sick first and we would need hospital services. What do we use to pay for our medical bills? Before we die, we actually go through the process of medication (unless we already foresee that we'd die in an accident). I think we should prioritize this over life insurance. Because we also wouldn't want to burden our families with our medical expenses when we're on the hospital bed.
Post Fri Feb 11, 2011 10:57 pm
 View user's profile Send private message
carryjohn
Member


Cash: $ 2.00

Posts: 10
Joined: 18 Feb 2011

 Reply with quote  

Life insurance is very important when you have some serious diseaese then you can get money from them
Post Thu Feb 24, 2011 4:07 pm
 View user's profile Send private message
payment proof
Senior Member


Cash: $ 407.40

Posts: 2028
Joined: 16 Jan 2011

 Reply with quote  

I think to help your dependants and your spouse. Would they be able to keep the house, etc. if you passed away?

See Proof. You can make free money online.
Post Fri Feb 25, 2011 1:32 am
 View user's profile Send private message Visit poster's website
JonCryer
New Member


Cash: $ 1.20

Posts: 6
Joined: 10 Mar 2011
Location: Mumbai
 Reply with quote  

Life insurance proceeds can help pay immediate expenses including uncovered medical costs, funeral expenses, final estate settlement costs, taxes and other lump-sum obligations such as outstanding debts and mortgage balances. They can also help your family cover future financial obligations like everyday living expenses, money for college or your spouse's retirement, and so much more.

Thanks Smile
Post Thu Mar 10, 2011 5:17 am
 View user's profile Send private message
Offshore-Wealth.com
Senior Member


Cash: $ 13.30

Posts: 594
Joined: 20 Jul 2005
Location: FREEDOMLAND
IS LIFE INSURANCE REALLY IMPORTANT For EVERYONE?  Reply with quote  

Interesting,

Having been in the insurance industry, what I learned is everyone is different, not two family situations can be accurately compared due to all the variables involved. Income, savings, home owner, mortgage, no mortgage, pension, no pension, loss of pension unexpectedly is new concern, and of course, our most values asset, our homes, most have seen trillions in loss in equity nationwide, so times they are a changing, more now than ever.

What I am seeing in this collapsed economy is people are forced to make decisions which were not needed in good times. Perfect example is the increase in people borrowing against their policies, such as the old school who purchased whole life as example. I know many who have had to do this in the past couple years as they have lost jobs and are trying to keep a roof over their heads and the family fed. The worse the eonomy gets, the uncertainty with stock market bouncing up and down, and now more down than up as world economies are collapsing like with downgrade of Spain, where will it end.

Simply put, many people are dropping life policy payments and I have seen this attrition rate rising monthly while less people even consider life insurance as eating is more important, as in living, not death protection. Will this trend continue, just ask anyone in insurance or real estate to see how many are in financial trouble. With foreclosures through the roof, followed by bankruptcies, more life policies are being cashed out early than ever before, a bad sign for insurance industry as more people are in survival mode and days of excess are over. Selling insurance was never easy, but wow, never more difficult than now is how I see it.

Is life insurance important, yes, more than ever, yet how many people feel this way when money is so tight? With no guarantee of pension being there when we need it, more companies laying off people just before they are vested in retirement plans, huge drop in home equity, most who had to tap into equity to survive layoffs or total job loss, what will people do when social security is cut, or worse, you have to work until 70 to collect, all real possibilities. How many people are thinking about how different things are now than ten years ago, as example.

The bottom like is this, millions of people who are unemployed are likely never going to be employed at same positions they once had, so less money means less luxuries, and life insurance is a luxury for most, so the futures of most are not nearly as secure as it once was, and this is why insurance is more important today than ever before, and now just for younger workers, but for all the seniors forced to work into their later years who do not have the option to retire with same pension or equity they thought they would have.

Yes, this is a very important subject, and as such, you should evaluate a new financial strategy that is emerging which will help these millions of people access a life benefit, even if only a $50K as example, this is going to change everything in the industry. I used this strategy in estate planning for those who wanted to leave proceeds to their Church, as example, and now, you can access peace of mind at no cost or obligation with new non profit organization just introduced.

Success to all,

FREE PAY IT FORWARD OPPORTUNITIES
http://FORCED-SUCCESS-SYSTEM.com
http://FREE100KSECRET.com


Last edited by Offshore-Wealth.com on Fri Aug 19, 2011 5:24 pm; edited 2 times in total
Post Thu Mar 10, 2011 6:45 pm
 View user's profile Send private message Visit poster's website
jackturner38
First Time Poster


Cash: $ 0.20

Posts: 1
Joined: 12 Apr 2011

 Reply with quote  

life insurance provides financial security to your family and it is protection against life's uncertainties. many companies offers cheaper life insurance quotes. you can also go through online for life insurance. I personally recommend this site [deleted] for for online comparing.
Post Tue Apr 12, 2011 11:06 am
 View user's profile Send private message
debedwards
Preferred Member


Cash: $ 21.70

Posts: 106
Joined: 19 Aug 2011
Location: Connecticut
 Reply with quote  

If you really love and you care for your family you'll get a life insurance. Untimely death and major health conditions are your enemies here and you definitely don't want to be caught off guard, so apply for a life insurance now.

elder care specialist | long term care insurance costs | life line screenings
Post Fri Aug 19, 2011 2:45 pm
 View user's profile Send private message
keshavmish
Full Member


Cash: $ 11.00

Posts: 50
Joined: 16 Aug 2011
Location: india
 Reply with quote  

Life is so uncertain that nobody knows what is going to happen the next moment. In such a situation, having a life insurance can prove to be a boon in case of an unexpected calamity. Before you choose a particular policy, it is necessary to find a reliable website that provides life insurance quotes from a number of providers. Such a site is very useful because you do not need to visit the websites of the various insurance policy providers and you can get different quotes on the same portal. It becomes easy to compare their rates and other terms in order to choose the most suitable one.
Why is Life Insurance Necessary?
It is a hard fact of life that there is no guarantee that a person who is hale and hearty will be alive the next moment. His wife and kids would be left high and dry without any means of support particularly if he is the only breadwinner of the family. It will protect his family because they will get the amount of the insurance cover that will see them through for many years.
It is absolutely essential for a person having children to take a life insurance policy because in the event of his untimely death, the amount of the settlement can set them up for the rest of their lives.
Post Sat Aug 20, 2011 1:04 pm
 View user's profile Send private message Send e-mail
brookdebt
New Member


Cash: $ 1.00

Posts: 5
Joined: 27 Aug 2011

 Reply with quote  

Permanent life insurance allows you to save money during your lifetime and allows for cash value growth. You pay a fixed premium annually or monthly to the insurance company.The increase of a cash-value policy is tax-deferred. Thus, you do not have to pay taxes on the cash value accumulation until you take out funds from the policy.
Post Sat Aug 27, 2011 12:38 pm
 View user's profile Send private message
debedwards
Preferred Member


Cash: $ 21.70

Posts: 106
Joined: 19 Aug 2011
Location: Connecticut
 Reply with quote  

Life insurance is a great option but if you think you'll be needing an insurance that is designed to provide elder care services then I think it's best to purchase long term care policy. It provides coverage for nursing homes, home care agencies and it also offers asset protection.

elder care specialist | long term care insurance costs | life line screenings
Post Thu Sep 29, 2011 2:21 pm
 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