Insurance Fundamentals Part - IIILife Insurance – Purpose, The Secret and Some FoodFor Thought
Life InsuranceYou’ve always heard and known that it is important to have life insurance.But have never really delved into the reasons.Insurance or Life Insurance is taken to protect yourself and your familiesfrom the unforeseen circumstances that can lead to a financial crunch.You generally consider to buy insurance when you know about theoccurrence of an event, eg. you plan to buy insurance when you getmarried or have a child. These are events that you know of; the cost ofwhich you know can be borne by you with no difficulty.But, what about the events that just happen, the probability ofwhose occurrence is almost negligible to us; and the recovering amount ofthe damage is huge.
The SecretThis is the secret to know how much to invest in whichinsurance cover:The Risk to a certain event and its financial impact areinversely related to each other.For example, you insure an asset, thinking that someday it willget damaged. The cost to insure this asset is high and the claimwill be less.What about your life? The cost of insuring it is less and thefinancial impact of death is well priceless…
Food For Thought…You spend your time and money making assets, which will you willlose in the event of death, disability or major illness.Australians are saving about 10% of their income. But, without anincome protection cover, these savings would be flooded 10 timesfaster than they were saved.You have been working for long to make your business profitable.But, how long would the business continue if you were totally andpermanently disabled?Act Now!
Call Insurance is an insurance provider that offersinsurance plans for Australia.The insurance plans are flexible and can be tailoredper your needs.Visit www.callinsurance.com.au for more.You can also contact us directly.Call us at 1300 073 305; write to us at email@example.com