The majority of our society is anti when it comes to insurance, especially life insurance. Many reasons why this could occur. There are at least 3 (three) basic reasons why people do not / did not want to buy life insurance.
- First, he has not seen life insurance is a necessity of life, because he does not have enough money for it.
- Secondly, the other extreme are people who already have a lot of money / assets, so feel no need for buying life insurance to cover risks that may arise. In his view, a large amount of property and productive assets that generate cash without having to work it has to be made of life insurance protection is not needed anymore for him.
- Third, people who do not really understand what the benefits might be obtained if he had bought life insurance.
In the event of death to a person, while the individual is the primary breadwinner in the family, it will be gone most of the revenue, or maybe even all income received by the family. Which then occur in the near future would imagine a family that did not get a monthly income or reduced significantly.
Due to the immediate effect is the well-being and standard of living the lifestyle began to fail, especially if the debts and then come the bills late, your credit card bills, medical bills unpaid, funeral expenses, and so forth. Let those who do not have life insurance, families who have bought life insurance is still possible if the financially troubled main pillar of his family died. This may happen if you do not take into account how much the coverage that suits your financial circumstances, so the important things you need to consider is how to calculate how much coverage you should take.
There are factors you should consider and be counted when someone (you) plan to buy life insurance.
Here, four things that can be considered as a factor that needs to be taken into account in determining the amount of insurance money.
How much debt do you have?
How many assets / property that you leave for your family?
How long those assets can support them without having to lower the standard of their lifestyle? and
How much funding is needed to finance your children's lives until they become mature and independent, including the cost of their education?
Once you calculate the amount of sum insured based on the factors above and you are surprised by the value that you should take (the premium to be paid). The amount of the total value or sum assured of protection that must be prepared not need to make your distress (depression and anxiety disorder), as long as you remember that insurance is basically a plan. That is, you can plan to buy life insurance with a certain amount of premiums in stages.
Order of priority:
- The first, buy life insurance with the insurance money to cover all your debts, so at least you do not pass on debt to future generations;
- Second, if the debts are secured, then buy the next life insurance to secure the needs of everyday family life for a certain time period, starting from your death;
- And third, the next stage, ie if you have managed to collect some extra money, buy life insurance with coverage that can meet the costs of raising your children, including the cost of education. Thus, although certainly not easy to manage, but with careful planning, the above remains possible (unless God wills other things, of course).
buy life insurance with the insurance money to cover all your debts, so at least you do not pass on debt to future generations;
Thus some of the considerations that you need to anticipate the risks that often occur in the running of family life.
What about you? have you had life insurance? If it is, whether value is enough?