Top reasons why you need insurance for the life and health

reason-why-you-need-insurance-for-life
Insurance For Life and Health Insurance can have multiple form, all insurance are essential to know. Some of the insurance may help you get benefits more and some less. Here we have mentioned some good reasons why you need insurance for life and health.
As we grow up slowly and become older, get married with someone, build families, take responsibilities and start growing career as an employer or businessman. Life is not fixed but death is, nobody know the actual time and place etc. We come to realize more and more life insurance is very important for us because you are bearing the responsibilities of your family and after you who will help your family in terms of money. We all very well know the money will be available to protect your loved ones in the event of your passing and they won’t suffer. All the money that you will earn can’t be paid through insurance but it also depends on your policy plan that you choose for your life and health. It will give you an assurance that some amount of money will protect your family and help to survive. Here are a few other reasons why having life and health insurance is important.

To Add More Financial Security
You save some amount for financial security, most of the parents want to know will their kids be taken care of when they’re gone? Absolutely Yes, but if you have taken decision for financial security. You not only want to give them better education but also other life ventures like getting married, lifestyle, starting own business. For these reasons, additional financial coverage is absolutely essential while your kids are still small or bigger.

To Protect Your Family
If your family and loved ones totally depend on your financial support for their livelihood, then life and health insurance is a must, because it replaces your income when you’re gone. This is very important for parents who have young children or adults and would find it difficult to sustain their living if they no longer had access to the income provide by their parents/partner. You will also need to provide enough money to cover the day-to-day household tasks everything else a growing family needs.
To Pay off Debts and other expenses
Most of the people have debts like the mortgage, car loan, credit cards and other. Nobody wants her spouse, children, parents and other loved ones to be left with extra financial burden. This is a reason to take insurance for life and health.

To Give an Inheritance
You might not have the assets to pass your heirs but you can do it by buying an insurance policy and naming them as beneficiaries. This is a reason to take insurance for life and health.

To bring Peace of mind
We never know when we will pass away. It might be today, tomorrow or 60 years later but it will happen unfortunately. No amount of money could ever replace the presence of a person. But an insurance can give some protection as a form of money for the uncertainties in life. It will bring you and your family piece of mind.  

Reasons to buy insurance at a young age

Young age is the age of power. Most of the people will leave no stone un-turned in achieving their aim of life. So if they take any kind of policy and plan they will pay any amount of possible money. There are many reasons and advantages to buy health and life insurance at the young age.
Waiting Period: Health insurances have waiting period from 30 to 60 days during this period we can’t make any claim, even if you are eligible for terms and conditions. A big advantage of health policy at the young age is you would exhaust the waiting period easily and without any concern. 
Low Premium: In most cases, the premium amount of your health policy depends on your current age. If you buy a policy at a young age, you can pay a lower premium amount.
Policy Duration: If you buy a health insurance policy at a young age, you will have more age limits and thereby enjoying the more benefits of health insurance for a longer duration.
Lower Chances of Rejection: When you are young, you may have less health complications and more productive years. This is the reason chances of your health insurance policy getting rejected are minimum.
Tax Benefits: As per govt. tax rules and regulations you can enjoy tax benefits by buying a health insurance policy at a young age will allow you to claim the premium you pay as deduction from your total income.
Riders Benefits: Some term plans allow you to add riders like, accidental death cover, fracture, riders with one more person, critical illness rider cover etc. Riders are the additional benefits that come against a nominal premium in health insurance.
Higher Coverage: Buying a health insurance policy at a young age ensures that you have higher coverage because many health plans offer wide coverage due to lower health complications.These are the reasons to buy health insurance at the young age may get more beneficial.


Why insurance is more important

Insurance insures family and business stability: The Life insurance can support the life of your family, loved ones. It’s similar for your business and job.
Insurance is a must thing to do: Any of the condition if someone has insurance means he has hope to get more thing can start his own if he lost in his business. It can help him to recover his condition while it was a health insurance or life insurance.
Lenders must require insurance: In most case, mortgage lenders want proof of insurance before you buy or build a new building which means it requires give more assurance to others while you are stabling a business or purchasing a home. Even relatives also help if they know that you have insurance policy because all the risks can be covered.
Insurance keeps commerce moving: Everyone might aware of the 9/11 attack. While some insurers began excluding terrorism to it but the federal government took an action in and required coverage in the name of “keeping commerce moving”. In this case, insurance prevented many businesses, companies and financial challenges from avoiding terrorist-targeted operations.
Conclusion:  Now you may aware about health and life insurance, term policy plans appeal to most of us because of the inherent benefits of life cover at the lowest possible premium, peace of mind, Income Tax Benefits and ultimately safety of your family and loved ones. If you think deeply, the premium you pay is a small price compared to the benefits and advantages attached to a health and life insurance term plan.

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About Rohit Tiwari

Hi I am Free Lancer Blogger in India. I am helping many brands and company for gaining their reputation in the market. I am a founder of VideoPiks. I am sharing the information related to Business, technology news, gadgets, mobile, internet etc information and news. I want to make awareness and help to others who are seeking these kinds of information. I am also offering the services like SEO, PPC, Online Advertising etc.
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4 comments:

Unknown said...

very nice post, wonderful information About Life and Health Insurance.
Thanks for sharing us!
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Derick said...

Woah! This is interesting. Liked reading this post as it has a lot of information.
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Good to read!

Anonymous said...

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