Introduction
It is impossible to predict the future. One should hope for the best but prepare for the worst. Proper organization of finances is a pre-requisite for tackling difficult situations in life. Emergencies and accidents do not forewarn of their arrival. Thus, it is extremely important to have life and accident insurance. When accidents or deaths do occur, they bring along a host of physical, emotional and financial problems. Inadequate financial resources only serve to aggravate an already deplorable situation. This article aims to educate readers about the benefits of life and accident insurance.
History
A life and accident insurance is a way ensuring that your family is supported financially in the unfortunate event of your death. It is great to want to live for a long time. Such optimism is much appreciated, but as we all know, life is strange and very unpredictable. If at all you were to leave this world or become seriously ill due to an accident; then would take care of your family? Your family will require food and clothing. Who will provide it if you are no longer alive or are incapable of earning an income due to an accident? Your spouse will be subjected to tremendous stress to provide for the family. The bills will pile up. No one wants such a fate to affect one’s family. Thus, it is important to have life and accident insurance.
It is a person’s duty to ensure the safety and financial security of his or her children. The children need to be looked after not only physically but also monetarily. Their school fees need to be paid for them to continue pursuing their education. They need clothes to wear each year. They need electricity, Internet and telephones. A life and accident insurance ensures that your children do not have to face an economic crisis in case you happen to meet your end or become incapacitated.
Features
It is highly probable that you have a mortgage on your home. That mortgage needs to be paid off. If your income is no longer available, will your spouse be able to provide for the family as well as pay off the mortgage simultaneously? Nobody would want his or her family to lose the house because of financial worries. This causes a lot of psychological trauma to the spouse as well as the kids. After your death, a life and accident insurance policy will prove to be your family’s greatest asset. If you have old parents or ill relatives who are financially dependent on you, then you may choose them to benefit from your life and accident insurance.
Tips and comments
Insurance is not an unnecessary expense – it is an investment in the future. This investment will benefit your family when they need it most. There are a few things to consider before investing in a life and accident insurance policy. They are: your age, your income, lifestyle, presence of children and relatives and your marital status. Generally, the younger you are the better it is. You get a chance to earn greater coverage by investing just a few dollars a month. Thus, it is not wise to delay the procurement of a life and accident insurance. One should seek guidance as soon as possible.
