While many hope never to need insurance, the understanding of its importance is growing by the day. For both the insurer and the insured, some instances have proven to be watershed moments. Without the right coverage, things would have gone sideways for the policyholders.
Truly, the world of insurance might appear strange, but it’s a semblance of our world today.
We really hope you pay ample attention to life insurance, this is to ensure your loved ones are fully protected in the event of your demise. Let’s highlight a few instances when life insurance saved the day to serve as a reminder why you need to have the right coverage in place;
As a young and recently married electronics technician, J.B was diagnosed with incurable lung disease. It was bad to the point when disability insurance had to come to the rescue of J’s and their two daughters.
Fortunately, J’s health took a turn for the best, and he lived the next two decades in good health.
This was not meant to last forever as his health deteriorated at this point. Around this time, his wife also needed to remove a cancerous tumor. After his wife’s surgery, J died, but the family never experienced hard times.
J had made smart decisions by doubling his coverage amount to help his family live a good life in his demise. This was why J’s daughter, B believes that the life insurance was the best gift ever from her dad.
Imagine the life of an average American couple where the husband has a job that pays well but went on to develop a condition that keeps him away from earning an income. This is the story of B.H, who was diagnosed with Lou Gehrig’s disease.
Being a degenerative neurological disorder that takes years to develop, this availed B.H all the time he needed to put his finances in order. The major part of this decision was purchasing term life insurance in addition to all of the coverage he had at his job.
In 2009, B.H passed away, but his family had all the resources to stand on their feet again. His death benefits were enough to prepare for the future and offset debts.
The death of a loved one can deal a huge blow not just on our emotions but on our finances. That’s what occurred to S.L, the wife of a widely practices pediatric cardiologist, when her husband suffered a heart attack and died in 2001.
For a busy person with multiple long-distance trips, Dr. D was fully committed to protecting his family financially. That’s why he had a sit-down with an insurance specialist twice a year to review his coverage to ensure he has and his loved ones are covered.
Upon his death, S.L was able to pay off mortgage and credit card debts after settling all of the financial liabilities brought about by David’s death.
That’s why S.L believes that the greatest gift to give your family is to think and prepare ahead.
These three instances have shown how important life insurance should be taken. There’s no better way to prove your love than to put in place the right coverage that ensures your loved ones can enjoy the same lifestyle they had before your passing.
If you are unsure of your coverage, you may want to have a sit-down with our expert insurance advisors. We will listen to you, review your existing policies with the intent of protecting you and your loved ones.