Ask Some Questions Before You Lock Life Insurance Policy

In a world that is constantly changing, life itself has become the greatest variable. There are days when I am not sure if I will make it home through the pressing chaos of the traffic.

When I do eventually get home, I take a long hard look at my family sitting across the television in total oblivion of the battle I’d just had to fight with cars and cattle alike.

The first thing I did with the sum credit to my bank account was getting a medical insurance to cover my hospitals charges and I’ve hoped ever since that day that I won’t have to claim the amount I have been insured for.

Why buy a life insurance policy?

A consistently arising query is why buy life insurance if you have insured your health?

Since I am self-employed and with a start-up that is only beginning to gather steam, I have wondered the same plenty of times. Another question that beats down on me with the life insurance policy discussion is what is the point of buying a life insurance policy when it is not going to be of any benefit to me directly?

How feasible would it be to buy a life insurance policy?

Every time I have asked myself this question, I have assured my mind by telling myself that being young, I still have a long way to go before I have to worry about death.

Then the cars blare in unison and cacophony and remind me that my life needs to be insured.

If not for me, then definitely for those that I will leave behind. It is assuredly the best way that I can continue to provide for my loved ones after I am no longer around.

Self-employment means no gratuity and no pensions

A bleak discussion at best, life insurance is a mandate for self-employed individuals who cannot fall back on the assurance of gratuity or pensions.

Whole life insurance policy vs life insurance term plans

Buying a whole life insurance policy is arduously expensive and the premiums that I pay towards can easily be attributed towards my children’s college educations, my business debts, my mortgage payments and even as income for my family.

That is when I came across term life insurance plans. There are various options that cater to the needs of self-employed individuals like myself. Some insurance companies even offer discounts to persons of certain trades and professions.

Skimming through the variety of options that I have for a life insurance policy was like walking into a candy store with tailor made candies to satisfy my sweet tooth.

What about my monthly budget?

Life insurance term plans are not just affordable but also flexible.A premium on a term life insurance plan comes at an economical that does not strain my monthly budget. I also have the option to choose a term plan from anywhere between 5 years to 30 years.Furthermore, I know exactly what amount of money I will be leaving behind for my family in the event of my death without fearing for any trims and cutbacks.

Since I am self-employed and my business is solely dependent on the cash infusions that I make, the term life insurance plans can be easily allocated to my resources.

Purchasing a life insurance policy online?

These life insurance term plans can easily be bought online with a few clicks of my mouse. It is almost as easy as buying a new set of curtains for your living room.

The best part is I can avail maximum coverage with a minimum premium amount and I can supplement my life insurance term plan with riders to suit my specific preferences.

What about add ons and riders?

Since I own an automobile, I have chosen to get riders that cover for accidents and disabilities but I also came across riders that offer a monthly income along with the lump sum amount assured in the event of death.

Where will I have to go to pay premiums?

I think the most important clause that had me sold on purchasing an insurance policy was that I could buy a life insurance policy and secure the future of my family and pretty much forget about it.

The quick and easy debiting of the premium amount from bank account is regular and automatic, thus requiring little or no effort from my end.

Stress free life with a life insurance policy

Having a life insurance policy has instantly insured that I sleep better, peaceful and carefree. The constant worry about what my oblivious television watching family would do after I am gone no longer worries me. I think the absence of that worry, in itself, will ensure that I will long and healthy.