When a loved one is in pain, we definitely don't stop to think about insurance schemes and options available. Instead, we do everything in our power to make things better. Yet, death comes unannounced. What happens then? How will your family be supported through it?
Insurance is what will help to tide them over until they can support themselves, but how is it that we don't think of insurance in happy times? Insurance is exactly that wonderful tool that keeps you asleep at night.
However, over the years, insurance has sadly gained a muddy reputation. People automatically assume premiums are all expensive and unneeded, while redeeming claims is a slow and painful process. It's not always untrue, because people have been duped into bad insurance schemes before.
Opinions are also affected by the many misconceptions about insurance, such as how many people think that since they're young, they don't need insurance. Or how if one partner has insurance, the other is covered. All these notions have to be corrected!
Correcting Myths
"I don't need Life insurance, I'm only 25!"
Life is full of the unexpected, and that is the hard fact. Besides, the younger you are, the cheaper it is! Premiums are much pricier at an older age, so starting late may be disadvantageous instead.
"I don't need to buy private insurance, I have insurance where I work."
There is always the chance of losing or changing jobs. If you lose your job, there will be lesser support to pick you up from where you fell. At such times, having your own insurance will be crucial to your own wellbeing and will definitely bring you peace of mind for the unexpected.
"I don't need household insurance when I'm renting."
Whether you're an owner or renting, if calamity strikes, some insurance will help to pay for the reconstruction of your house, minus the furniture and contents worth thousands of dollars. Only contents insurance can take care of that. Replacing memories may be impossible, but it would certainly help if someone paid for a bed to sleep in.
"Why do I need insurance when I'm single?"
Single or not, you can not be so sure that you'll never accumulate any debt. If you suddenly pass away, that debt will pass on to your loved ones instead. It's unfair for them to shoulder your debt. With insurance, such a situation can be prevented by covering the debt.
"Why should I buy insurance for my spouse if I'm the sole breadwinner?"
If tragedy strikes, like severe disability or death, you will have to be both mother and father to your children. At such times, you will realize you may not be able to work as much as you did before as more time is needed to look after your children. Money that comes from the insurance can help with such difficult situations. People cannot be replaced, but bills and taxes don't respect that.
Hesitance
You may say that you earn very little money or have too many debts to commit to insurance plans. If these are your concerns, it now becomes imperative that not only should you not lose any more money, but do everything in your power to protect what you have.
Don't you repair your house every time you observe some damage? Don't you upgrade to a newer phone or car every time you can afford it?
It is time to treat yourself and your life with the same care.
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