Flaubert once said, “Most of one’s life is spent saying “It’s too early,” then “It’s too late.” This is especially true when it comes to the treatment accorded to the people and the things we have. When faced with a choice, we postpone taking action to see what else could happen next saying any action done at the moment is premature only to realize that we have let a rare opportunity pass, we’re off the mark.
Life’s uncertainty is difficult to exaggerate. One moment you are enjoying a cup of coffee with your friends, the next you are on your death bed no thanks to a drunk driver who lost control. Today you are happily sharing stories with your BFFs tomorrow you are being lowered six feet under. The lesson? To enjoy life? That’s one. To let your loved ones feel that they are special? That’s another. To make sure you do not leave your family and beloved in such a frustrating and hopeless situation, that’s the third and perhaps the best way of showing love and concern.
Given all these, the prospect of life insurance is becoming more and more promising – and rational. However, the cost that is usually associated to these contracts can be discouraging and disenchanting that a significant portion of interested parties end up withdrawing their applications or postponing their plans of buying until such time they have decided that it is worth it.
To better understand life insurance policies, it is imperative that we first differentiate the two general types of insurance agreements – the permanent and the temporary. Permanent life insurance policies are those that are in effect from the type the policy was applied for until the life of the insured. Permanent life insurance plans are more expensive because they provide more extensive coverage. This type also has an investment component – the extra cost that is shouldered by the insured as reflected in the fixed and non – negotiable premium goes to a savings account. Also known as the cash value, the savings account earns interest and in most policies result to a benefit that is equal even twice the paid premiums. The accrued value can be of great help for those who are nearing the retirement age and are appealing to those who have spare money. The interest may also be loaned or borrowed by the policy holder in case of an unforeseen expense.
Term life insurance on the other hand, offers temporary coverage in a more affordable policy. The insured chooses the term by which the insurance policy will run, usually terms range from five years to 30 years. This type is a pure policy meaning it is only payable when and if the policy holder dies within the specified term. It is more popular than permanent life insurance because it seeks to give maximum protection at a dirt cheap rate.
Both permanent life insurance and term life insurance have been introduced to the digital world via the internet. But it is instant term life insurance that is enjoying great mileage. Affordability and flexibility coupled are the two main reasons why.
Another policy that is being widely viewed and purchased are life insurance no exam policies. This fairly new type of insurance agreement does not require likely clients to undergo medical examinations as basis to determine their eligibility to the policy they are eyeing. Life insurance with no exam policies significantly decreases the projected expense of the buyer, cuts the amount of time to be consumed and does not rob the opportunity to be insured from people who have high health risks. Medical examinations, in order to be objective are strictly done by paramedical professionals contacted for that sole purpose by the insurance company. This means that even if you were issued a clean bill of health from your physician, it serves no purpose as the last say is with the independent medical company.
Pessimism is one trait that some people wish could be undone. It strips people of their needed energy and enthusiasm in dealing with life and the problems and challenges that come with it. It takes away the idealism that fuels change and improvement. And it is pessimism that influences people to enter into an agreement that offers them and their families full benefits in the event of death or accident or partial or total disability – life insurance. People who apply for life insurance are considered negative thinkers and inviting negative vibes. But, is it really that bad to think of the future when uncertainties govern the world that we live in today? Or is it love in its purest sense?
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