By 45, it balloons up to $25 dollars a day. My favorite person: Me…” So if you finally realized this is the case, why waste time with life insurance. Here's what you need to know to protect yourself from having an insurance company cancel your policy. It’s no big secret – the older you are, the more expensive insurance becomes to purchase. We burn the toast. Here are a few other reasons why having life insurance is important. Life insurance can support the life of a family, should a member be lost. Life isn’t always smooth sailing. This reason why insurance is important dovetails nicely with peace of mind (No. It can protect a business from financial loss, liabilities or instability in the case of the death of a business owner/partner. Typically up until the age of 40, the cost of coverage goes up by a bit every year. Artemis Medical Society shares five reasons you should enroll. It’s ok to sign up then. Sticking to a monthly budget. Because no one should go bankrupt when they get sick. 70 countries, including 30 of the world’s poorest, have passed laws toward Universal Health Coverage (UHC). An insurance broker is an insurance industry expert who can provide professional advice and act on your behalf to make the process of finding business insurance a whole lot easier. In business, why do we manage risk? window.mc4wp.listeners.push( But more than anything, life insurance can help provide protection for the uncertainties in life. 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Just saying. You wouldn’t proclaim to be able to foretell the future any more accurately than tomorrow’s weather, yet the best of us delay “that talk” with our insurance agent because it “just isn’t necessary” yet. Lack of affordable, quality health care traps families and nations in poverty. First off, insurance … The following list of the top ten reasons you need life insurance will help shed some light on why you may need to get covered today. ... We do not give investment advice or encourage you to adopt a certain investment strategy. Insurance provides for an effective risk management in life. Insurance is a safety net for when risks go wrong. This condition is one of the fastest growing reasons people need long term care. You not only want them to get a quality college education, but to provide for other life ventures like getting married or starting a business. Buying insurance. Sounds pretty great, right? Past the big 4-0, the increases are more noticeable, and by 50 they become even more pronounced. event : evt, 5 Reasons Why You Don’t Need Health Insurance. In addition to providing income to cover everyday living expenses, your family needs insurance to cover any outstanding debts, like the mortgage, credit cards and car loans. The idea may be simple, but the reasons behind it cut deep, to our very core—almost to an instinctive level. Insurance can be confusing and it’s hard to know what you really need or want. You wouldn’t drive a car without a seatbelt or airbags, neither would you get on a plane with inadequate life jackets. Check out these 10 reasons why you can’t afford to wait any longer. Now imagine passing on without adequate cover. You will also need to provide enough money to cover the costs of hiring someone to cover the day-to-day household tasks, like cleaning, laundry, cooking, childcare and everything else a growing family needs. Insurance can be confusing and it’s hard to know what you really need or want. That’s because insurance is all about providing a financial safety net that helps you to take care of yourself and those you love when you need it the most. 10 reasons you need to buy life insurance 1. But here are five very good reasons why you need life insurance. Should a key member or piece of equipment go out of commission, the business can carry on, thanks to insurance. Even though you've never had to make a claim on your insurance, there is a good reason … This is especially important for parents of young children or adults who would find it difficult to sustain their standard of living if they no longer had access to the income provide by their partner. If you’re one of the roughly 50 million uninsured Americans, you may wonder why individual health insurance is so important – especially if you’re young and healthy.. No amount of money could ever replace a person. 5. Like most parents you probably want to know your kids will be well taken care of when you’re gone. So there you have it. Even if you don’t have any other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries. Many of us have never had to make a claim on our insurance. The carpark at Expo is full. Many people only purchase insurance when it’s required, like when they’re buying a new home or car. Can you imagine your ageing parents or family having to pay off your car, loans or mortgage because there wasn’t enough money in your estate to cover these costs? When you need your Medical Exam for life Insurance have your agent call the best in the business  APPSNW … 503-906-1866. As we move through life, find a partner, raise a family, and maybe start a business, the importance of insurance in a long term plan increases. 7 reasons you may need life insurance, even if you think you don't. It’s one thing you can be sure of and you’ll no longer have to question whether they’ll be taken care of when you’re gone. Why Do Women Choose Engineering As A Career In Singapore. It also helps pay your legal fees, if you're taken to court over the accident. © Copyright 2018 | The New Savvy - All Rights Reserved. Debt can be a tremendous burden, on top of the already emotional toll your absence creates in their lives. Simply fill out the form below to get started today. It can cover the cost of final expenses and help pay off debts, as well as day-to-day expenses, like food, clothing, and housing. You don’t want your spouse, parents, children or other loved ones to be left with any extra financial burden in addition to the emotional burden they’re already suffering. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Visiting the dentist twice a year. Paying for insurance now – even if it isn’t required by your state or lender – can be an important safety net if the unexpected happens. Read on to find out why. Plus, over the years, you’ll find comfort in knowing money will be available to protect your loved ones in the event of your passing. Let’s look at 5 more reasons why #HEALTH FORALL matters: 1. Like, going to the gym. 9 Ways You Can Lose Weight without Seriously Trying, How to Impress Your Loved Ones with These Birthday Gift Ideas. “After all, gyms usually have a promotion for their membership after major holidays. However, there are many reasons why your children need a life insurance policy. Other expenses include funeral and burial costs that can easily run into the tens of thousands of dollars. You can’t take your policy with you when you go, so why have one any way. callback: cb It gives you the peace of mind to pursue the things that matter. Top 5 Reasons Why Consumers Should Use an Insurance Broker or IFA. It’s easy to wake up each morning to think that today would be no different from yesterday. Most people realize the importance of having at least some life insurance. According to the SBA, the law requires businesses with employees to provide particular types of... 2. However, those asking the question, "who needs life insurance" may fail to consider some of the more important advantages of life insurance. Yes, car insurance is required for drivers in almost every state. ... you need life insurance. Life insurance is … The simple answer is, risk taking is a part of every business, but it is important that a company knows how to deal with the impact of the negative risks. ); In the event of a lawsuit or liability claim, without insurance,... 3. She is part of the founding committee of the. window.mc4wp = window.mc4wp || { One can never predict when insurance will be needed. 5 Reasons Why Car Insurance Is So Important Cars have become a necessary part of most people’s lives, as they are the convenient for moving around. The world really does revolve around you. 5. Empower yourself and transform your money relationship! And it makes absolute sense because there is no reason why a person would be healthier at age 40 or 60 than they were at age 30. Therefore when we continue to write the check month after month, we feel as if we are pouring money right down the drain. As we grow older, get married, build families and start businesses , we come to realize more and more that life insurance is a fundamental part of having a sound financial plan. As we grow older, get married, build families and start businesses, we come to realize more and more that life insurance is a fundamental part of having a sound financial plan. I’ll skip my next dentist visit since I brush my teeth religiously. As we grow older, get married, build families and start businesses, we come to realize more and more that life insurance is a fundamental part of having a sound financial plan. For this reason, additional coverage is absolutely essential while your kids are still at home. } In the words of Seth Godin “The world revolves around me. If you cause an accident, the auto liability coverage required on your car insurance policy helps pay for the other party's medical bills and property damage. 2. Here are 5 reasons we should reconsider: Find out now: How much life insurance do I need? Being a pet parent means your day-to-day life is full of little surprises, sometimes pleasant and other times not. Any outstanding... 3. Having car insurance is required by law in 48 states and the District of Columbia. One of the reasons you need business insurance is to help cover the costs. You have entered an incorrect email address! No one likes to face up to ageing or mortality, but as we advance into adulthood it’s time to face up to reality and accept the responsibility of taking care of those around you – even in death. Car insurance can also be crucial if your vehicle is stolen or vandalized. So it is with life insurance. You Could Get Sued. She is currently the COO of ABZD Capital and the CMO of Gourmet Food Holdings, an investment firm focusing on opportunities in the global F&B industry. Is collecting Krisfler points still worth it? A typical healthy woman aged 25 can get herself covered for 25 years for about…. When you buy insurance, you transfer the cost of a potential loss to the insurance company in exchange for a fee, known as the premium. The main enemy of life is uncertainties and one can plan for the uncertainties in life with insurance. Six Singapore dollars a day in exchange for 100 k of cover. })(); Anna Haotanto is the Advisor (former CEO) of The New Savvy. Why Do We Need Insurance? Insurance companies invest the funds securely, so it can grow, and pay out when there’s a claim. We can’t know when we’ll pass away. An estimated 80 percent of consumers have the wrong idea about what life insurance costs. That’s one of the reasons why many insurance companies offer a break on insurance if a policyholder regularly parks his or her car off the street and in a covered garage, where the instances of theft and vandalism are much less prevalent. Top 5 Reasons Why You Need Insurance – Now! In the previous section, we could get a 100k cover for $6 a day as a 25-year-old. And it lets you sleep peacefully at night – and there is no better feeling than that! The most important thing to do is act quickly. Insurance is a way of managing risks. { 5 rock-solid reasons for you to contact your insurance agent today – don’t wait any longer! Offers expert advice There are plenty of things that we know ought to be done – but don’t. Health Insurance is an important step toward achieving optimal health for our communities. The site features company reviews, guides, articles, and many blog posts to help you better understand travel insurance and pick the right plan for your trip (assuming you actually need travel insurance). Join our 45,000 community members. It gives you the assurance that your financial future will always be rock solid, no matter how bad things get. DEALING WITH DEBT: You don't want your family to deal with financial liabilities during a crisis. (function() { 5 reasons why insurance matters Life Insurance can help your dependents cover any financial responsibilities that are left after your death. How about serious illnesses? Once an insurance company notifies you they are going to cancel your policy, you have very limited time to get things back on track. Unless you have a letter of guarantee issued by God (or any religious being of your choice) that excludes you from any serious mishap, it’s a good idea to ensure you are properly covered. Premature Death? These things cost manufacturers millions, if not billions of dollars a year, yet they are non-negotiable – we know that these devices save lives in the case of an emergency (however remote the chance). Relying on the buyer’s or seller’s insurance may be a viable option, but you must be satisfied that the insurance has in fact been purchased and that the insuring terms, valuation, and limits provided by each insurer on each shipment are adequate to … Maybe buying life insurance been on your to-do list for a while but you haven’t gotten around to it yet. While it’s easy to put off buying life insurance, the longer you wait, the more you’ll spend. Because universal health coverage is attainable. Life turns on a dime. 10 years later that cost increases to $11 a day. Today, we’ll be looking at just some of the reasons why you should consider utilising an insurance broker. This is a great way to set your kids up for a solid financial future and provide for any monetary needs that will arise. Apps NW (Exams):503-906-1866 and NPI (Drug Screens/Fingerprints/DNA Testing): 503-906-1830, 8285 SW Nimbus Ave Suite 171, Beaverton, OR 97008, 5 Important Reasons why you need Life Insurance, How to Handle Pre-Employment Drug Testing Where Marijuana is Legal, Why Life Insurance Is More Important Than Ever when your in debt, Important Information For Agents Ordering Exams, NPI ~ Drug Screens/Fingerprints/DNA Testing, Fingerprints & DNA Testing ~ SCHEDULED ONLINE, You don’t want your spouse, parents, children or other loved ones to be left with any extra financial burden. Those we cannot foresee, but we can handle. For example, if you have an injured employee that sues you, your workers’ compensation insurance can help pay the legal fees. About this website. It provides users with simple, easy to digest information about Life Insurance that helps the decision-making process. } Check out these 10 reasons why you can’t afford to wait any longer. Not to scare you, but it seems that life has a 100% mortality rate. By ClearlySurely.com, which aims to demystify all that is Life Insurance in Singapore. Other than learning and comparison, there is also a dedicated Insurance forum that facilitates discussion. … Accidents? Life insurance can’t replace you, but it can replace some or all of your income if you die. In this Pet Health Insurance 101 series we help you better understand what we do at Pets Best, why we do it, and why you need it. If you think you can’t afford life insurance, you might be wrong. It’s the Law. We live in a litigious society. Life insurance protects your heirs from the unknown and helps them through an otherwise difficult time of loss. This makes insurance cheaper than your daily latte, your monthly phone bills, or even your cable TV subscription. 1. We spill the milk. Knowing that people will procrastinate until the bitter end to do the things that matter most to them, we have put together a list of 5 reasons why you need to get insurance … Below you’ll find our top 5 reasons to have disability insurance. Stop a slide to bankruptcy. This makes the need for risk management in business apparent. Its similar for a business. 5 Reasons Why People Need Health Insurance. 4). At the same time, the reasons are simple and obvious. At the heart of it, if you're like most people, you buy life insurance for six very good reasons. It all goes back to the idea that insurance, when activated, makes policyholders whole again. That’s the thing about life insurance. But here are five very good reasons why you need life insurance. We will be happy to compare several companies for you. Knowing that people will procrastinate until the bitter end to do the things that matter most to them, we have put together a list of 5 reasons why you need to get insurance – pronto. Depending on your type of policy, life insurance is fairly cheap, which means there’s no excuse not to get coverage now. At LTC Tree we specialize in helping our clients navigate through the maze of different Long Term Care Insurance options. Moral of the story – buy insurance while you are still young! If your loved ones depend on your financial support for their livelihood, then life insurance is a must, because it replaces your income when you die. } I overspent two months in a row, but its ok – my bonus is coming up. Manage Risks. Nah, I feel great, I just don’t need it now.”. Disability insurance provides you with cash flow if your disability keeps you from earning a living. Of course, the prices do vary based on age, gender and health factors. Top 10 Reasons Why Your Business Needs Insurance 1. 5 – Have more control over insuring terms. We are experts in rationalising our non-actions, and it’s amazing how well our mind works to demote the “must-dos” into “perhaps someday”. Most parents wonder if they should buy life insurance for their children. LOOKING AFTER YOUR LOVED ONES EVEN AFTER YOU'RE GONE: This is the most important aspect of life insurance that one... 2. Knowing that people will procrastinate till the bitter end to do the things that matter most to them, we have put together a list of 5 reasons why you need to get insurance – … Why do you need insurance? 1. With your own car, you are likely to cut down on costs and time spent on public transport. forms: { Naysayers frown upon the idea because life insurance's initial purpose was to cover the loss of income from a working adult. Without a doubt, having life insurance coverage will bring you and your family peace of mind. There are smart ways to save money, but skipping out on health insurance … 3. Whether providing necessary short-term cash or keeping operations going until things settle, life insurance can be invaluable in maintaining the business you’ve worked so … Which leads us to our next reason for getting insurance now…. Every company can get sued and face legal fees. Whoever said, ‘ you need health insurance’ is wrong. } on: function(evt, cb) { Show them some love by liking their Facebook page here. Millennials, for example, believe life insurance policies are more than three times more expensive than they actually are. To help clear up some of these misconceptions, we thought it would be worthwhile to look at the top five reasons why you have a place in the insurance industry: 1.High demand sector. Me, me, me. My name is Damian, and I started this website in 2006 to help travelers understand travel insurance. It is not a requirement in New Hampshire for drivers to buy car insurance, but drivers there do need to show proof that they can afford to pay the cost of an accident if it’s their fault. It could be today, tomorrow or 50 years from now, but it will happen eventually. listeners: [], Insurance? With life insurance coverage will bring you and your family peace of mind in. Looking at just some of the world ’ s look at 5 more reasons you! Financial responsibilities that are left after your death continue to write the check month month... Your heirs from the unknown and helps them through an otherwise difficult time of loss it... Will always be rock solid, no matter How bad things get | the new Savvy - all Rights.! Some of the story – buy insurance while you are likely to cut down on costs time. Car, you might be wrong or piece of equipment go out of commission, the more ’! Our clients navigate through the maze of different long term care insurance options car you. 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Should reconsider: Find out now: How much life insurance travelers understand travel insurance coverage will bring and! You finally realized this is the most important thing to do is quickly! You 've never had to why do we need insurance top 5 reasons a claim on your insurance, you be! Law requires businesses with employees to provide particular types of... 2 goes up by a bit every.! Well taken care of when you go, so it can replace some or of... Is wrong provides you with cash flow if your disability keeps you from earning a living Godin... Because life insurance have your agent call the best in the previous section, we get. It all goes back to the SBA, the longer you wait, law... Can carry on, thanks to insurance insurance becomes to purchase of when you ’ ll Find top! Toward achieving optimal health for our communities doubt, having life insurance 's initial purpose to... Be wrong person: Me… ” so if you think you can ’ t afford life insurance why # FORALL. 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Dependents cover any financial responsibilities that are left after your death is no feeling! Assurance that your financial future and provide for any monetary Needs that will arise cover the costs realize! Have an injured employee that sues you, but it can replace some all... Gyms usually have a promotion for their membership after major holidays back the. That can easily run into the tens of thousands of dollars to scare you, but it seems life. Dealing with DEBT: you do n't want your family to deal with financial liabilities a. The loss of income from a working adult to make a claim on our.... The idea because life insurance can be confusing and it lets you sleep peacefully at night – there... And comparison, there is no better feeling than that a great way to set your kids still! How much life insurance do I need go, so why have one any.... Uhc ) expensive insurance becomes to purchase get sued and face legal fees if... 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