Life Insurance About Protection Not Just Peace of Mind

Everyone wants peace of mind when it comes to providing for their family. Sure, life insurance provides peace of mind but it does so due to the vital family protection it provides. Buying an insurance policy online is very convenient but, since there are so many options and insurers to choose from, care really needs to be taken when looking for an appropriate plan.

Many people are of the opinion that they can put life insurance on the back burner because they are predominantly healthy, but that can change rapidly. Unfortunately, the worst case scenario happens more than many people may believe. A critical illness can hit a family hard and quick, just like a family can be hit with an unexpected death.

Even though life insurance is a matter of choice, unlike car insurance which is required by law to operate a vehicle, utilizing this form of protection offers great peace of mind as well as protection for any event that may happen. Life insurance and critical illness insurance, dependent upon the policy, will pay a cash sum if a policy holder dies or becomes exceedingly ill.

This money will help to ensure a family’s future, including repaying a mortgage loan upon death. Even though the thought of death is abhorrent, anyone would agree that they want to protect their loved ones. Therefore, obtaining insurance will provide for that protection.

What are the Costs Associated with Life Insurance?

Many people are of the opinion that they can’t afford life insurance, especially because the recession continues to have a firm grip on everyone but surprisingly enough, many are very affordable. The cost of the premiums on life insurance policies depends on a number of things.

These can include lifestyle, occupation, sex, age, whether a person uses nicotine products or smokes and family and/or individual medical history. The premiums also can change radically depending on the types of additional benefits that are chosen in addition to the base life policy.

Since there are so many insurance companies and plans available, it is imperative that a prospective client seek the advice of an advisor or if the policy will be bought online, look for comprehensive comparison listings of as many companies and available policies as possible.

It also should be noted that it is very important to be completely honest about any previous medical condition that may exist, especially when purchasing a policy online. Omitting or hiding any information that is relevant to a life insurance policy, or even critical illness coverage, could in the event of a claim, result in non-payment.

Is Critical Illness Coverage a Sound Choice?

Critical Illness insurance is just as important to consider for providing comprehensive protection for a family in the event that the policyholder suffers a serious illness or injury, which will most likely result in time having to be taken off work with subsequent loss of earnings. This insurance is designed to support a family financially to help with daily expenses or to pay off a mortgage loan upon the diagnosis of a critical illness. This type of cover can be included in many life insurance policies.

Both life insurance and critical illness insurance are for peace of mind, yes, but they both will offer comprehensive protection as well. This is because, in the event of death or a covered critical illness, the insurer will pay a lump sum amount to a family to help them financially when it’s needed the most.

I’ve held a policy with Drewberry for several years now. They are always friendly, insightful and offer great service.

Dan Pettitt
13/01/2021
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