Financial Advantages and Disadvantages in Life Insurance

July 10, 2017

Financial Advantages and Disadvantages in Life Insurance

Financial Advantages and Disadvantages in Life Insurance - Currently life insurance programs continue to grow. Seeing the many insurers sold separately people prefer separate insurance. This is certainly not wrong, because buying insurance is the first way in tackling finance in the future. Instead of buying insurance should be done because it can help you when adverse circumstances happen to you.

Financial preparation through insurance is what can help you improve finances by getting dependents from the insurance. Currently, life insurance can help you in doing future financial planning. However, people still do not trust with life insurance.
Financial Advantages and Disadvantages in Life Insurance
Financial Advantages and Disadvantages in Life Insurance
This is due to several factors, especially the premium price that must be paid. Public opinion about the importance of life insurance cannot be considered important by them. Given the number of separate insurance offerings make the community also better choose the type of insurance that can help as needed.

The public may still be a little interested in life insurance, in fact, equally important for your financial viability in the future. There are lots of financial advantages and disadvantages in life insurance. Lots of people just realized the importance of life insurance when it has experienced problems in the future. This error often happens to the public about the benefits of life insurance.

Good things about life insurance

1.     Anticipate losses when died

There may be someone who does not leave a loss when it dies, but it's a very small percentage. With this life insurance, you can anticipate in case you die with losses like credit card, mortgage, debt, cash loan, up to funeral expenses. The younger you buy insurance, the smaller the premium to be paid. In addition, life insurance also ensures costs in case of health problems later.

2.     Anticipating sudden risk

Currently the company already provides insurance to employees. This is what makes some people think if there is insurance from the company for what to buy insurance again. In fact, we do not know when the risk will come and how much the cost should be incurred.

3.     Premiums can be paid per month or per year

Premiums paid for life insurance are expensive compared to other insurance. However, you can choose to pay for a period of one year or per month. In addition, premiums can also be tailored to your financial needs.

The disadvantages of life insurance

1.     Claim money only can be taken once lifetime

This system makes people reluctant to choose life insurance. In addition, the amount of premiums paid with the claim money that can be taken once a lifetime becomes one of the reasons people prefer separate insurance. More people choose insurance that can give dependents on a regular basis.

2.     Heirs and family who can enjoy claim money

On this system that makes people think life insurance can harm. Because only the heirs of the owner of the policy alone will receive the sum insured.

3.     More expensive payment

Premiums paid will be more expensive than buying insurance separately. The public would prefer a cheaper premium payment and can claim at risk.

4.     Have no clear information about forms of investment

Unclear investment in the purchase of life insurance makes people think twice about using it. Therefore, find out first before deciding to use life insurance, so you do not get fooled.
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