People do not buy life insurance on time, either they are late or do not prefer to buy life insurance for them and their family. It is general question that why people don't buy life insurance on time. The same situation happened in my family too.
Buy Life insurance on time
My parents did not prefer buy life insurance over 80 or any medical insurance for them due to other financial priorities and now they are doing repent that we should have bought life insurance or health insurance that time. My mom has RA now since 8 years and the whole family is disturbed now due to financial crisis of her arthritis treatment. We are medium family and do not have enough money for her treatment. Doctor has suggested biologic treatment of worth $1,000 for her. This is the reason, we should buy senior life insurance earlier and should not be late in our lives.
"61% don't buy life insurance or more of it because they have other financial priorities"
We started running behind the money as soon we started our career. When we start our career, we do not have any responsibilities due to young age and our fathers also work that time. So, we do not need to spend so much money. That time was the best time to save some money for ourselves and for our parents. But What do we do that time? We spend all the money on waste things not assets or any life insurance policies. That is the reason, we repent later and do not have enough money for our treatment or any other financial crisis.
Term Insurance or Whole Life Insurance?
We can protect our family and provide good life style by not wasting our money on waste things. I am not bounding you to buy life insurance only. There are many such people who are not in side to buy life insurance. They tell, i do not need this, I believe on myself. I want to say that we waste money on many things which we do not need, still we do shopping. In term insurance, there is very less amount of premium yearly. We can save that money and invest in term insurance which will help in our lives later on financial crisis.
Some people need whole life insurance or permanent life insurance. Generally the wealthy people buy this insurance for their family legacy or the benefit of their life partner or beneficiaries. We can say that this policy will work in our retirement. It is such a great pension plan.
Now it depends upon you that in which life insurance you are going to invest accordingly. There are many more insurance options at myseniorlives.com like burial insurance, term insurance, whole life insurance, home insurance, auto insurance, health insurance, mortgage insurance etc to invest in our lives.
We discuss how you can protect your family in this simple, easy-to-understand video about life insurance. Give us 1:40 of your time. Thank you. pic.twitter.com/bo5BgB6GiI
— Life Happens (@lifehappens) October 15, 2018