Avoiding the Gamble of Living Without Life Insurance

Some Canadians, unfortunately, don’t see that value in a life insurance policy and choose not to obtain one. The uncomfortable feelings that come with discussing your death and what will happen after is one of the main reasons, among many others, that people choose to live without coverage. The cost of a plan is another issue that people point to when talking about life insurance, some people don’t feel like it’s an appropriate way to spend their money.

But is living without the safety net of life insurance making your life better? Your life is filled with risky gambles each and every time you step out the front door, why risk everything and go unprotected?

This week, we’re discussing the perils that come with living life uninsured and how it’s the biggest gamble anyone can take. In the end, life without proper coverage will only end up hurting the ones you love.

It Won’t Change Fate, But It Does Bring Peace of Mind

Happy young family having fun outside in summer nature

Life throws a variety of less-than-ideal situations at us and they may not always be avoidable. One thing is certain, life insurance won’t change what is destined to happen, nor will it change or overcome the bad that life has in store for each of us.

What Life insurance can offer is an invaluable living benefit for you and those who matter most to you, piece of mind. You may not be able to completely stop bad situations from happening, but you can live with the comforting thought that everyone will be taken care of should something happen to you.

People often see life insurance as simply an expense, but there is more to it than just that. Life insurance is a great opportunity to support your family when you no longer can. Think of your policy as a gift to your loved ones, it will take care of them during a time of grief and provide them with a steady foundation to rebuild their lives around.

It’s Not as Expensive as You May Think

shutterstock_157413608

If you are living uninsured because of the cost of a life plan, you’re doing a great disservice to both you and your family. The cost of life insurance should be one of the last things on your mind when you are considering purchasing a plan. How can you put a price on the guaranteed security life insurance give to your family?

It’s understandable that you’d want to spend your money on your life and not on your eventual death, but the coverage is not going to cost you the large amount you may think it will. Life insurance, especially a term plan, is fairly inexpensive year to year.

If money is tight for you at the moment, you can kick a bad habit or two and cut down on going out to eat. The savings you incur from cutting back would be more than enough to cover an annual payment for a term life plan.

Another benefit of a life insurance plan is that they are quite flexible and can be worked into your budget. Instead of paying for your coverage annually, you can set up a payment structure that allows your premiums to be paid monthly, semi-annually, or even quarterly. The choice of when you can pay coupled with the fact that you can have automatic payments set up makes budgeting with insurance simple.

Prepare for the Inevitable

shutterstock_289833059

We’re all going to die at some point, it’s the bleak reality we all face. But this shouldn’t get in the way of you protecting your family. Nobody wants to talk about their death, but it’s important to plan for the future and take the necessary steps to safeguard your loved ones.

Remember, a life insurance policy is there to act as a contingency plan. These plans allow your family to be better off whenever it is that you pass away. People tend to think that a life insurance policy is only for those much older or those who are close to death, that is simply not true. Getting properly insured is just a precaution, it doesn’t mean you are any closer to dying.

Who Can Help You Get the Plan You Need?

shutterstock_144007066

If you have some concerns with obtaining a life insurance policy, we can help. At LIFC, we specialize in helping Canadians find the plan that best fits into their budget. We work with over 20 leading Canadian Providers and have access to the latest life insurance policies on the market today.

Having a life insurance plan in place isn’t going to make your life harder or worse off, it will do quite the contrary. Getting insured correctly gives you one less problem to worry about as it will safeguard the financial futures of those you care most about.

Leave a Reply

Your email address will not be published. Required fields are marked *