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subject: Who Wants Life Insurance? [print this page]


Who Wants Life Insurance?

Almost any individual, man or woman, old or young, needs life insurance coverage. The traditional perspective that the man, as the head of the household, needed a life insurance policy only, has stopped being relevant. In modern culture there are many women of all ages that are either the only breadwinner or a major contributor to the household earnings. Generally in most households both partners, should therefore carry life insurance policies.

Age is not essentially a deciding factor in the commitment to life insurance. Young adults lately earn a nice income and are likely to have some debt, be it studies debt or any other financial debt that would need to be settled on their death, however untimely that death may be. Besides pure life insurance, i.e. insuring your life for a specified amount to be paid to a named beneficiary on your death, there are other products related to life insurance. Funeral cover could possibly be included with your life insurance portfolio, so may be products like critical disease cover, work disability, loss of income, accidental death and the like. The face of traditional life insurance coverage has evolved to allow for a thorough product that is menu driven and will cater for any situation that you may wish to include in your life insurance portfolio.

Loss of life for whatever reason is always an uninvited visitor that could strike at any time and any age, affecting both sexes. It is therefore important to consider a life insurance policy (also in its broader form) of both partners in marriage. The loss of a mother can be as devastating for a family as the loss of a father, not only at a personal stage, but also on a financial level. Higher education training and other longer term goals by youngsters may abruptly be put at risk by the death of an insured father or mother. Clearly when it comes to where the mother is the major breadwinner life insurance on her life should not be a flexible option but to be viewed as important. In considering life insurance coverage, partners should view their situations together and decide on the best course of action not only for both companions, but the family in its entirety.

by: steyme42po




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