Life Insurance Facts You Should Know

Like it or not today’s society is built on money. Money can’t buy you happiness, but without it life is pretty miserable. Today’s society is also built on debt, and a lot of it. Mix these togther and you have a toxic cocktail that can drive people to the edge.

This is why Insurance is so important. If you have debts, you should be insured. If you have a family you should be insured. In fact, almost everyone should have some form of insurance. You’d be absolutely crazy not to.

This is what people don’t realize and what the experts don’t tell you…

If you have Life Insurance it means that when you die you leave your family with enough money to pay off debts and live in some level of comfort. It’s alarming that so few people have any form of Life Insurance, but what’s even more alarming is that so few people have any form of disability cover included.

Why is this so alarming? Because many people consider being disabled and unable to take care of their most basic needs, even worse than death. If I’m honest I would absolutely hate to burden my family with feeding me, bathing me, taking me to the toilet. That would be like hell on earth.

Don’t think this will happen to you? Then take a look at these stats from the Cornucopia of Disability Information:

Wheelchair Users in America:

* 1 million wheelchair users
* 1 out of 250 persons
* 10,000 people every year are spinal cord injured
* 82% of spinal cord injuries are male
* 307,000 under age 44 use wheelchairs–[US Dept of Health]

Do you still think it couldn’t happen to you?

I apologise for being so dramtic about this, but I feel so pashionate about it, and so frustrated that the financial industry doesn’t take more action on it.

Please take this opportunity to contact one of our Insurance Brokers and get at least some level of protection… Life Insurance Brokers
How Mortgage Brokers rip you off

The next secret I want to share with you is a really sneaky one that I just hate. When you take out a loan, say for a house, often you’re pushed into buying insurance for the loan from that same mortgage company.

This is a real problem and it’s costing you dearly. Here’s why:

Say you borrow $200k and the mortgage company sells you life insurance cover for this loan so that in case you die, the loan gets paid out. Sounds OK doesn’t it, but here’s the kicker… assume the premium is $100 per month and in 5 years time you’ve paid the loan down to say $150k. What do you think your monthly premium will be in 5 years time? Well it’ll be the same, you’ll still be paying $100 per month, but the amount that the insurance company will payout if you die has dropped to $150k. This is why buying life insurance with the mortgage company is a rip off.

If instead you purchase $200k of life insurance through an independant broker, you’d still be paying the $100 per month, but you’d have $200k worth of cover, even 5 or 10 years later.
If the Worst happened you need to have the Best Life Insurance

Often Insurance companies are just looking to take your money and not really consider the whole picture. Here’s some extra tips to help you get the right deal…

1. If you’re the bread winner make sure you have enough life insurance to payout ALL your debts so you leave your family owing nothing.
2. You also need to have enough insurance to cover the drop in income your family will experience when you die. Your Life Insurance Broker should help you work this out.
3. Make sure you have some cover for your partner. Because if your partner dies and you still have to work, what will happen to the kids?
4. It’s a good idea to get disability cover for your children. If they have an accident and need intensive at home care, how will you afford that?
5. Talk to a reputable broker about all your need and ask them to come up with a complete package.

If you need some help, you can talk to one of our

Related posts:

1. Term Life Insurance Quote – Getting the Proper Insurance to Protect Your Family is a Must! :: From Best Life Insurance Brokers
2. Don’t get Life Insurance on its own
3. Instant cover with Post Office over 50s life insurance :: Best Life Insurance Brokers
4. Instant cover with Post Office over 50s life insurance :: Best Life Insurance Brokers
5. Instant cover with Post Office over 50s life insurance :: Best Life Insurance Brokers