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| Who all need Life Insurance? |
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If you think you have
enough time to think about life insurance, you are mistaken. It is an absolute
necessity for every grown-up once he starts earning. May be he is single or
just married, life insurance is the best means to face the uncontrollable
situations that crop up in life.
Are you
covered under your employer-insured health coverage? If yes, it is a promising
thing that your employer offered you. But it is high time you reconsider the
option of choosing it.
The employer-sponsored insurance plan may be a costlier
affair for you for many reasons. The insurance premium is calculated
considering the average age and health of the entire employees covered under
the plan, and so if you are healthier or younger than the average employee, you
may be the loser. Therefore it is advised that you revise the plan or adopt
another policy canceling the employer-sponsored policy.
Compared
to men, women are less likely to opt for a life insurance, obviously because
they think they are not the main liable person of the family. But the case of
single women is different, especially if they have children. The hesitation
among the women to opt for a life insurance plan may be attributed to their low
income or the lack of proper guidance. In the USA, women are offered cheaper
insurance plan than men perceiving that women have a long life than men! Also,
accepting a term-life plan will be an affordable option for any single or
married woman as most of the insurance companies offer packages for less than
$15 a month.
Opting a
life insurance policy after retirement may be a costly affair for you. Yet, it
would be wise to accept a policy that is affordable to you considering the risk
factors of old age and the subsequent difficulties you may face because of your
poor health and lack of funds.
Overall,
we can conclude that everybody needs to posses a life insurance plan at the
earliest stage possible.
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