Why Life Insurance Makes A Meaningful Love Gift
We’ve all seen it before — some lousy agent promoting a life insurance plan. He’s mentioning words like security, protection, and family. He speaks about the “future.”
And occasionally, you hear the word “savings” or “investment.” You are skeptical! He is out for my money.
Or is he? I’ll let you decide.
Consider the following scenarios.
You’re a young, newly married couple. You have siblings and parents who’s been through thick and thin with you, and now a partner to build a home with.
How do you keep everyone’s interest protected? Especially if something happens? A life insurance couple’s plan.
This allows you to save together while protecting your separate interests. You decide on a period and upon maturity, the pool of money is split between both parties according to the terms agreed upon at the onset of the plan.
We do not pray for death or divorce but should that happen, each couple’s listed beneficiary (could be your sibling or parent) will be well provided for.
Now your home is strong. You have a routine and maybe one or two children. You’re grateful for this partner. You can’t help but think how lucky you are. This family is yours and you want to see them win.
Then for the love of your children, you can consider a Children’s Plan. This guarantees a lump sum for your children at a certain time in their life whether you are here or not. You can tie this to their education and they will get this amount so far you pay the calculated (and significantly cheap) premiums.
Now you are a thriving professional. Constantly travelling. You know the risks, and the thought of your loved ones often wanders into your mind. A Term Life plan can save you. At the beginning of every year, you can secure a bulk amount for your loved ones in case anything happens.
The last thing you want is for your family to look up to anyone for survival. So as a pleasant surprise, you can secure a bulk amount every year by paying only 1% of what you want the company to give if the unexpected happens anytime that year.
Finally, you’re getting older. The kids are all grown but like every discerning parent, you still worry about their well-being. You want to make a big, selfless move for your loved ones.
Not only will they enjoy you in life, even your death affords them convenience. An insurance Whole Life plan does just this.
This gives a 100% guarantee that any day you die, your loved ones will get a bulk sum as an inheritance that you have secured for them.
So you see, ultimately, a life insurance plan is an act of genuine love and commitment, to yourself or your loved ones, even in death.
This write-up serves informational purposes only. It should not be considered explicit financial or legal advice. Not all information will be accurate. Before making any serious financial decisions, consult a professional.
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