20/01/2015
Life insurance is one of the best ways to prepare for the worst case scenario; after all, if you were to pass away unexpectedly, the loved ones you leave behind would still need taking care of.
Don’t leave their futures to chance !Here are few reasons why life insurance is a necessity:
1.Avoid your home being repossessed
If your mortgage relies on the money you make, then you can’t afford to be without life insurance. Last year alone, a staggering repossession orders in around the globe were issued! If you were to die unexpectedly and your family could not keep up with the repayments, your house could become just another statistic; the home you have worked so hard to secure would be lost and your family left vulnerable. However, protect your household with life insurance and you could ensure mortgage repayments are met, even after you are gone.
2.Cover child care costs
A recent study by the University of Canberra found that the cost for the average family to raise two children has now soared to an overwhelming amount! If you were to pass away before your children have grown, who would foot that bill? A payout from your life insurance policy could pay for the hours of childcare your children may need, and as plans are cheaper than you’d imagine, it’s a small investment to make if you consider nothing to be more important than your kids’ wellbeing.
3.Secure a good education for your children
Understandably, you want your children to have the best opportunities in life. As university education fees are now considered amongst the most expensive in the world, setting up a life insurance plan has never been so important. A payout could meet the costs to support your children’s future learning and careers in the eventuality that you are no longer around.
4.Safeguard your loved ones from inheriting your debts
A life insurance payment could write off your debts and ensure future bills are met – meaning that your loved ones won’t be at risk of being chased by your creditors for money you owe. Earlier this year, the Children’s Commissioner revealed the disturbing truth that children as young as six years old are concerned over rising transport, energy and health care costs3. No parent wants their baby’s childhood destroyed by money worries.
5. It’s more affordable than you think
Shockingly, whilst almost all Lebanese have insured their car, a mere 9.3%have protected their most important asset – their income. Whether you are the breadwinner or not, it’s likely that your income is fundamental to maintaining yours and your loved ones’ lifestyles. Many people don’t realise that life insurance not only provides a lump sum in the event of your death, but you can also set your policy up to pay out should you fall ill suddenly or become unable to work.
Think of your loved ones, their future and your responsibilities toward them. ACT TODAY TOMORROW MIGHT BE TO LATE!
