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What is the purpose of life insurance?

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  • What is the purpose of life insurance?

    In addition to dependents, life insurance may be a good idea if others substantially depend on your income such as a spouse or a loan cosigner. An example is pet insurance. Check Petinsurancefinder website.
    Last edited by Ismanwe; 02-14-2020, 12:02 PM.

  • #2
    Many of my friends have already done it, it will never be superfluous in a civilized society. Now there is every opportunity to think ahead about your life and the life of your family, which means it should be used, I think everyone should do this.


    • #3
      I think it's promising and right, especially if you really are the head of the family and you provide for your loved ones on a permanent basis. You have to think ahead, there may be different situations in life and you have to be prepared for that.


      • #4
        In fact, it is a very useful tool for saving money for a financial airbag.
        Life insurance will protect your family's property interests if anything happens to you. In addition, the service provides an opportunity to accumulate funds: educate your children; buy a home, to pay the mortgage; reach the age of majority, wedding, other event;
        4.for financial support during retirement and stuff.
        Life insurance is required from a responsible insurer, who in a difficult life situation will not violate the obligations assumed.
        What to pay attention to when choosing a partner company:
        1.Availability of a license to conduct insurance activities.
        2.Address of registration - you shouldn't trust companies registered in another country.
        3.Term of activity - the best indicator of reliability - work experience of 10 years.
        4.Feedback from friends, clients of the company on forums, social networks, but not on the website of the insurer itself.
        5.Reliability rating of insurance companies.
        6.Tariff policy: very low prices should alert you, perhaps, the company is a beginner and attracts clients this way, but this policy may lead to bankruptcy.
        7.Discounts to regular customers and bonuses for purchasing additional services - reliable companies take care of their customers.


        • #5
          if you think about your family and the future of your beloved you will get a life insurance. Because a life Insurance policy pays out a lump sum to your relatives or other beneficiaries in the unfortunate even of your death, offering you peace of mind and financial security at the most difficult of times. I think serious to take one, I have already car insurance, and I trust a certain company so it's worth selecting one more. If you are wondering which one a will put the link below

          Last edited by Salzburg; 06-23-2020, 11:55 AM.


          • #6
            Personally, I found a few advantages of life insurance. And in today's world, insurance of your life or the lives of your family members is a fairly common phenomenon, which shouldn't be something new or unusual. Here are some of the advantages of life insurance (if you are so hard to convince of its benefits):
            -Injury tax isn't taxable for risk events;
            -Livelihood tax is only levied on the difference between the amount paid and the amount paid minus the refinancing rate;
            -A tax deduction. You can apply to the tax authorities and refund the tax deduction to the amount of premiums paid for the tax period under voluntary life insurance agreements for 5 years and longer;
            -Targeted. Death benefits aren't included in the inheritance - only the person you specified will receive them. This is taking care of the most vulnerable family members - you can protect, for example, grandchildren or children from their first marriage;
            -It's the same status as the insurance policy. Insurance policies aren't property, so they can't be enforced by third parties. They can't be confiscated, arrested or separated in a divorce, for example.


            • #7
              In addition to life insurance, I also see benefits of private health insurance. I see that prices of medical treatments are skyrocketing in recent years, so in this sense, private health insurance seems like rational solution.