WHY SHOULD WE NEED LIFE INSURANCE?

Life Insurance is insurance for you and your family's peace of mind. Life insurance is a contract between the policy owner (the company that is providing the insurance) and the insurer. It can be the basis of protection and financial stability when someone dies or other event, such as terminal illness or critical illness. Its function is to help beneficiaries financially after the owner of the policy dies or other event.

The most important thing for everybody has to need life insurance because of the fact that human living is full of risk. So, that's why we need a protection, we need to transferring the risk.
The facts of life is:
- Everybody knows that they must be die, but when?
- Everybody who has a job right now someday will be retired.
- Everybody who has a daily working to earn money daily or daily income someday doesn't go to work because of something happens.
- Everybody has a life phase: single - married - having children - old phase.
- Everybody has a life style: job promotion, growing income, change of life statue.
- Risk of life is always around us: health risk, accident risk, job risk, safety risk.
- The condition of economic macro: inflation.

Life insurance can be an important tool in the above situations. It can be a replace income for dependents. It means if people depend on your income, it can replace that income for them if you die or other event. Some types of life insurance have a cash value that you can obtain by cashing out the policy or borrowing against it.

The Insurance for everybody is covering many thing: dependent living expense, educational fund, retirement income, mortgage repayment fund, emergencies fund, disability income, health insurance, and investment.

Do we have a protection againts the risk of our life? Do we need to be protected in our family's way of life? It's better to have an insurance to transferring the risk and have a good plan in the lifetime.

Written by: Dan Snd