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The following article was published in our article directory on December 30, 2011.
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Article Category: Business
Author Name: Eric Smith
Life is not a guarantee. It is something that people have no control over with regard to the likely things to happen. But there are ways by which people can ensure the security of their loved ones future and that is through life insurance.
As much as it is encouraged to avail of insurance, there is also a list of misunderstandings surrounding the subject. Such concerns about who needs it and who does not, will be addressed in this article. This includes other concerns that will shed some light to this topic.
Life insurance is for burial expenses. Some people avail of insurance particularly for this purpose. While it is a valid concern in case of death, insurance is not just about paying for the expenses during burial. When a person passes away, the dependents suffer from the loss emotionally but also financially particularly if that family member is a breadwinner. This leaves the dependents helpless about financial costs. What happens is the insurance comes in to support the dependents not just to bury the dead but also in living and securing a future given the loss. This makes life insurance a must have for breadwinners and major contributors to the family income.
Housewives and parents who are stay at home do not need insurance. While most risks are involved outside of home, there are events that may happen within the house as well. Accidents are never foreseen and at times, unavoidable. So it is not true that stay at home parents do not need a policy. Housewives for example, although they may not be earning from doing and keeping the household manageable, they are still an invaluable asset to the household. Without them, expenses will have to be shed out for housecleaning, etc.
Life insurance serves as a replacement for the financial loss that the death of the payee may result to. This is why the insurance should be able to amount to and sufficient to replace a member's salary. Expenses such as tuition, mortgage and other bills should be covered for and not leave the dependents at too much financial loss which is why insurance is necessary.
Single individuals may not need insurance as much as other people with dependents do. But if a single individual has a dependent to provide for. Such a security is required. The lesson to get from this is that life insurance is a security for the loved ones who are declared as the dependents in case of the payee's untimely death. The investment that the payee sets aside every month to pay for the policy may appear as additional burden but it can prove to be very beneficial in the future. This is most likely in case of an unfortunate passing. There is no price that can be put to match up with the loss of a loved one. But this loss should not make them suffer financially. Insurance takes some of the burden away from the dependents. And with one, the payee ensures that his dependents are well taken care of even after his passing.
Keywords: life insurance quotes, life insurance
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