Why do I need a life insurance? I am well off both financially and health wise. This is the most common question asked when one is told about life insurance. But have you ever given a time to think that what ever is looking good, tomorrow it may not be the same. After all this is the reality of life and this is where insurance companies come into picture. Life Insurance is a program which gives an umbrella like cover to you and your near ones depending on the policy. It is an assurance given by the company that they will take care of any financial burden that may arise due to any unprecedented happenings. Depending on the type of life insurance you buy, you get return benefits accordingly. Generally life insurance is designed in such a way that it benefits the beneficiary more then the person insured. It is done so because when you pass away and there is no one to take care of them, then it is the insurance company who will take care of them by taking care of any liabilities and other cost factors that may come.
I remember when one I told one of my close friends the benefits of life insurance he readily agreed for taking one life insurance policy. As he was having nice and steady job, he decided to take a Term life insurance. Everything was going on fine, unfortunately my friend met with an accident and passed away. My friend had taken a home loan and a car loan and all these were taken care of by his insurance company. The other day I had gone to see his wife, although she was in the pain of losing her husband but still she was happy about the wise decision that her husband had taken due to which at least his family is saved from the financial mess that could have been created if her husband had not taken a Term life insurance. She also thanked me for making her husband understand the importance of having a life insurance policy.
Sometimes I just wonder what would have happened to my friend’s family had if he not taken a life insurance policy. They would have simply fallen into the financial trap and would have lost everything from their house to car and other belongings. Now at least they don’t have to bother about the any house rent every month. They only have to take care of the food and other expenses which are manageable for them. No matter which ever life insurance policy you take, it will at least give you a peace of mind that you have at least taken care of the future of your family. Life is unpredictable and you cannot take chances with it, at least when it comes to the security of your family. So if you get an assurance which will take care of your family in times when you are not available to take care of them for small fees, then I guess no one would mind that.
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