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Insurance. Five reasons why it is important to have life insurance

1- Capital always available at all times

Want to know more about life insurance? Note that a death policy will pay your beneficiaries cash benefits if you die while employed. This is a guaranteed source of income, which means it your family will always have access to the funds they need.

In addition, term life insurance is often sold as part of a group life insurance policy so that employers can cover death in service costs for their employees. Employer-insured life insurance can benefit employees as they will pay lower premiums due to the larger number of people covered by the policy.

2- Unmatched flexibility

The amount of the death benefit can be increased or decreased at any time. This means you can customize the font to your needs. For example, if you have a new baby, you can increase the death benefit to account for the long-term costs of raising a child. You can also reduce the amount of the death benefit if your financial situation improves.

3- Free choice of recipients

Beneficiaries of life insurance are determined by the owner of the policy at the time of subscription. They can be chosen to meet your specific needs.

Young children can be named as primary beneficiaries of the policy, which guarantees that they will receive a death benefit when they reach the age of majority. Life insurance can also be used to pay a death benefit to your spouse, a disabled child or a family member who is financially dependent on you.

4- Possibility to access the financial markets and benefit from its results.

You can choose universal life insurance that allows you to do thatinvest in the financial markets. This means that any increase in the value of your investments will increase the size of the death benefit. You can also use part of the funds invested in the financial markets to pay premiums, allowing you to reduce the overall cost of your life insurance.

5- An advantageous tax arrangement

Life insurance policies are tax efficient and death benefit amounts are not taxed upon death. Depending on your specific policy, the premiums you pay may be deductible.



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