When Not Having a Life Policy Becomes Risky

Let’s take a look at some examples, where not having a life policy becomes risky. To make an analogy that uses a current example, the reason to have a life insurance policy is to protect others. Having a life policy shows your love and respect for your inner circle. While having a policy may never yield you any benefits, not having one can put your loved ones in a very sticky situation.

Going Through Life Not Having a Life Policy

What will your life look like without a life insurance policy? Pretty standard, not having a life policy will not effect your day to day life. We already discussed whether having a life insurance policy is a necessity or luxury on this site. If you are alone, and plan to stay alone until the rest of your life, then you can get by with not having a life policy. However, if you do have a partner, or will eventually have one, or a child, then life insurance becomes essential.

At what point does it become essential? Immediately! None of us know how long we will be here. That’s principle number one. Many motivational speakers will tell you, “live your days as they are to be the last ones! Enjoy life, live it to its fullest!” And having life insurance can give you the extra piece of mind. No matter what happens, your loved ones are taken care of! Even if you life to the age of a hundred, it’s still a good idea to have a life policy the entire time. Especially a whole life policy or a universal policy.

So When Can Not Having a Life Policy Become Risky?

Generally the younger you are, the less likely you are going to be thinking about retirement and getting older. You feel invincible, on top of the world, nothing can get you! And as much as that is true, father time keeps on ticking. As you get older, you will realize that just like everything else, even life has an end. And it’s at the end, that life insurance come in handy. Life insurance is something you will eventually need. So, why not get a head start?

No matter the age, passing of a close one is always a traumatic event for the ones left behind. Especially if you and your partner have been together for decades. Once either of you passes away, there is a lot of paperwork to be worked out. Sure, spouse gets some part of the other’s pension. However, when will the transfer of pension be processed by social security office? How long does it take to get the paperwork processed and for money to start coming in? Are you going to be leaving enough money to cover this gap? These are the questions you must be asking yourself.

The Solution to Avoid Risky Situations

Yes, a life insurance is the answer to avoiding a risky situation. Especially now in Covid times the processing of paperwork can take extra time. The social security office can process the transfer for a few months, while an insurance company will payout a death benefit in a matter of days. This payout is exactly what your loved ones need to get by in the first months.

Therefore, while you can get through life without having life insurance, it is the smart thing to do to have one. Let’s get you started on building a lifetime of security for you and your loved ones. The earlier you start, the cheaper it is. Click here to fill out a form for a free quote. It will show your options.

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