A few days ago, an agent from a life insurance company came to the office to give us a small presentation of the different products offered by his company, mainly life insurance policies.
In brief, a life insurance guarantees several benefits, depending on the package that has been tailored for your needs. Though it might differ, life insurance policies can
- Guarantee you a monthly pension after your retirement,
- Give you the option to cash back your money after x years
- Give peace of mind to your beneficiaries (spouse/children) after your death since money will be paid to them.
- Protect you in case you are disabled or inability to work.
- Provide education plans (among others) for your children
Point to note :
- Banks sometimes require that you have a life insurance if you are taking loans. This guarantees that in the event of your death, they can recover the money from the agency.
- Some time ago, it was common practice for people to subscribe to a life insurance since the amount was deductible from the tax. However, this is no more the case since some amendments that have been made.
So, are you insured? What motivated you to subscribe to a life insurance policy? If you are not insured (or not planning to), what are your reasons?
Wish all of you a nice week. Bon courage! Be patient, we have a long weekend awaiting us!!!