What do you think about having a life insurance program?
By alpha7
@alpha7 (1910)
France
3 responses
@smacksman (6053)
•
15 Jul 08
It really comes into importance when you have responsibilities - when you have a wife to support and maybe children as well.
If you 'pop your clogs' a bit early then you need to provide for their welfare.
Personally I prefer 'assurance - with profits' to straight 'insurance'. The sum involved is a lot less if you die but there is a nice 'nest egg' to be had when the policy matures.
A prudent man will take out assurance policies in advance to cover major events like private school fees, weddings and the like.
@smacksman (6053)
•
16 Jul 08
It is called in the UK at least assurance, not insurance.
Assurance gives you life cover but the premium that you pay each month is managed by the company and they issue profits each year which goes into your 'pot' They also sometimes offer a terminal bonus to entice you to keep paying the policy to the end.
At the end of the policy (when it 'matures') you can get back a nice lump sum.
You need to talk to your local broker to get the full explanation in your country.
@bowtieguy (5915)
• United States
16 Jul 08
I think it is a great idea to have life insurance, you never know what could happen to you. I have to children and I want to know that they would not be so burdened if something were to happen to me.
@21centaur21 (119)
• United States
15 Jul 08
I think life insurance polices are a necessary evil in life. While they stimulate thoughts of our mortality, they also provide comfort and peace of mind to us and our loved ones. The grief of a loved one is hard enough, without having to worry about financial problems.
