Why is Life Insurance Necessary?
While we are accumulating our wealth we also need to protect our greatest wealth creating asset OURSELVES from accidentally dying too soon or from total or partial disability as both of these will impact our ability to produce wealth.
Personal Life Insurance is the ONLY vehicle that protects against the above risk.Types of Insurance:
1. Personal Life Insurance
2. Property and Casualty Insurance
3. Health, Medical, Disability and Critical Illness Insurance
4. Business related insurance eg. Key Man
Life Insurance is important for the following reasons:
As the foundation is the basis of a house or building, Life Insurance is the foundation of any sound financial plan
Life Insurance can be used as collateral to a bank or financial institution e.g. a mortgage
Life Insurance with cash values can provide funds in an emergency situation, or policy can be cashed in to boost retirement fund or provide college funds for children
Life Insurance of course can provide an estate for your loved ones when you pass onLife Insurance premiums don’t go up with time.
The type of plan you get depends on your budget , your stage of life and of course your financial goals. Feel free to contact me and we can discuss what is best suited for your individual needs.
