Why Do You Need A Life Insurance?

​If I die, why do I need money? You don't but your family might.

​Getting life insurance just makes sense; it's one of the responsibilities of having a family you care about. Our family is very important to us. So if we think good for our family then need to go for a good life insurance policy. Getting life insurance will give you the maximum benefit in the future. If someone you love relies on your income, you need life insurance. Protect yourself and protect your loved ones.​

You Need Life Insurance Because...

• You never know (Dying suddenly in an accident or unexpected illness)
• Funerals are expensive
• Protect those you love
• Death shouldn't mean debt
• Anything can happen
• Take care of business
• Supplement your retirement
• Peace of mind, plain and simple

According to the TV Program: ANC's On The Money, the 13 most important things that you should know when buying life insurance are:

• How much will your family get if you die?
• How much will your family get if you die through an accident?
• How much will your family get if you are disabled or dismembered?
• How much will you pay every month?
• How often will the policy be renewed if it's a term insurance?
• Where do you pay?
• How long is the grace period for paying?
• Where will be the investment component go if it's a VUL (Variable Universal Life Insurance)?
• How much is the commission of the agent and what is the schedule of payment?
• When will the policy begin putting your money in investments?
• How much is the interest if you borrow from your cash value?
• If there are regular cash payouts, when will it be paid and how will you get the payment?
• Who do you call if there is a problem?

Who Needs Life Insurance?

• Parents with children, especially very young ones
• Parents with financially dependent spouses
• Breadwinners who are supporting aging parents or young siblings

​What Kind Of Insurance Policy Should You Buy?

Term Life Insurance

• Cheapest option
• Covers you only for a specific period

Permanent Life Insurance

• With cash value
• Policy owners can borrow from the cash value at a certain interest

Variable Unversal Life Insurance (VUL)

• Most common permanent life insurance sold
• Essentially term insurance married with mutual funds, but with higher commission fees

Permanent Life Insurance and VUL Are For Those Who:

• Are not in debt
• Can afford to invest but do not have the time or inclination to do it on their own
• Need to be forced to save

Things You Should Have Accomplished Before You Turn 30:

Life Goals

• By now, you should at least have some idea on how you're going to live the rest of your life
• Will you get married?
• Are you in the right career path?

Emergency Fund
Insurance