However, this insurance is very different from other insurance policies in that the only way to receive a claim from the insurance company is if the person who bought the insurance passes away. Many people may think that this insurance has a single way to get claims and they do not want to gain from it, so they may still have some resistance to it. However, as people have become more aware of insurance in recent years, more and more consumers have begun to inquire about such products.
Today, this article summarizes several frequently asked questions about buying life insurance, and I hope it will be helpful to you. First, readers need to understand who is suitable for life insurance. Given that the beneficiary of a life insurance policy can receive a large amount of income under certain circumstances, this article recommends that the family member who has the main responsibility for the family, that is, the family member who earns the most money, must buy this insurance because once the main source of the family's economy is cut off, the whole family will be in an economic crisis and it will be difficult to live normally. Therefore, for the sake of the family's economic protection, the person who is mainly responsible for the family must buy life insurance. Just imagine, if the breadwinner of the family is gone one day, how to pay the mortgage? What about the children's education fees and the elderly's support costs?
Buying life insurance is a reflection of one's sense of responsibility, even if the person is no longer alive, the money paid out by the insurance can still allow the family to continue to live. Now that you have decided to buy life insurance, you also need to choose whether to buy term life insurance or whole life insurance. For most ordinary people, this article suggests that term life insurance is a good choice, for example, until age 60. So at this point, children are financially independent and more family members are sharing the financial pressure, so there is no need for one person to take on the main family responsibilities, and term life insurance is much cheaper. Whole life insurance is more suitable for readers who want to manage their money steadily and have the need to pass on a large amount of inheritance to consider.
There are various kinds of term life insurance on the market, which one should I buy that is more suitable? If you are going to buy a term life, we suggest you pay attention to the following 2 points: firstly, you should pay attention to the amount of insurance you buy, and secondly, you should pay attention to the way you pay the insurance premiums. Try to choose a longer payment period, such as 30 years, so that the premiums are less stressful and the leverage is higher.
