A Life Insurance Policy Can Give You Peace Of Mind

The saying happiness is a choice is too cliché but it is nonetheless true in many instances. Our life decisions help pave the way to either happiness or ruin, which means that prudence has to be exercised when making day to day choices. One such decision that we do need to make is how to prepare for the future, and while it may be morbid to think about our passing one day, many say it is a healthy attitude towards the reality of life. Hence, life insurance is becoming increasingly popular among young adults. Even people who have not yet started a family, or who haven’t yet left their 30’s are looking at term life insurance quotes for comparison, and many are setting up their policies earlier than ever before.

While life insurance is basically a preparation for the inevitable, it also provides benefits to people from day to day, including peace of mind.

Here are some of the ways of how life insurance can make people happy.

  1. Provides a Sense of Security for the Future

Security comprises a major part in peace of mind. The feeling of having a safety net, whatever may happen, gives a good feeling. Secure people are generally happy and they tend to appreciate the present more than those who opt to shoot in the dark and rely on luck. Having a life insurance provides such sense of security for people. It is said that many people in their late adulthood who have life insurance are reportedly happier than those who don’t.

  1. Gives Peace of Mind

Nothing compares to peace of mind. In fact, this is the top reason why people work hard and accumulate wealth. However, it seems elusive to some and many are quick to lose it. Buying life insurance gives a certain degree of peace of mind as it allows a person to secure his or her person. Knowing you will be taken cared of well upon your passing helps you feel prepared, and thus feel good about yourself. It also reduces the worries of future financial status and makes one enjoy their day to day life better.

  1. It’s a Way of Caring for Your Family

Family is one of the greatest things that can make you happy, and this happiness grows exponentially as one provides and cares for his loved ones. The same is true with life insurance. Buying yourself a life insurance plan is a portrayal of love to your family because you take the burden off of them when the time of your death comes. Life insurance will cover expenses upon death and this takes off a heavy financial load from your loved one’s shoulders. With it, you can also better enjoy your time with your family because you know everything is taken care of. A company like Fabric could be worth a look as they are a life insurance innovator that offers instant decisions and affordable policies. Fabric is perfect for absolutely anyone, but especially families and parents, who have realized the importance of planning ahead when it comes to their financial well-being and taking the stress out of their future.

Whatever other reasons may be on how life insurance contributes to your feelings of happiness, it is doubtlessly beneficial in the long run. This is why it is always better to buy a plan while it is still early on in life.

 

How to create a safety net for your family

No one wants to think about what would happen to their family if they were unable to work. But if you were to fall ill, have an accident or even pass away, your partner and children could be left with much less income than before. Even if you’re not the primary earner in your home, the loss of your earnings could have a devastating effect. It’s important to think about these things before they happen, even if it’s not very pleasant. There are lots of things you can do to prepare for a situation when you can’t bring any money in or might not be around anymore.

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Get Income Protection or Critical Illness Insurance

If you can’t work for a short time or are diagnosed with a serious illness, it helps to have a way to keep money coming in. If you suddenly can’t work, you might have only a little income or even none at all. One of the insurance types you can consider is income protection, which will pay out for a short time if you can’t work. It can cover things such as your mortgage and bills. It’s especially useful if you’re self-employed and don’t have a company sick pay scheme. Another option is critical illness insurance, which will help you if you’re diagnosed with one of several illnesses.

Take Out Life Insurance

Death is a difficult thing to think about, but it’s something we’ll all have to face some day. While we all hope that our children will be grown, and we’ll be long retired by the time it happens, you can’t predict the future. If you do die while your children are still growing up, you want to know they won’t have to worry about money when you’re gone. One of your biggest expenses now is probably your mortgage. If you read a guide to home insurance, it will recommend life cover to help pay off your mortgage after your death. As well as helping them keep their home, it could cover other costs too.

Write a Will

Another way to prepare your family for after your death is to write a will. This is important if you have assets and if you have dependents. You can have a say in what happens to your children, as well as who receives your money and personal possessions. It doesn’t take long to write one up and make sure it’s legal, but it could make a significant difference if anything happens to you. If you’re a single parent, you might find it especially important to specify who will look after your kids.

Incorporated into this is planning for your funeral. It is not something we really want to think about, but buying a funeral plan, either upfront, or using monthly installments, can be a way to relieve a financial burden on your family, and most importantly, your children. A service like Co-op Funeral Directors offer plans that run from 2 years to 25 years, and help to take not just the financial burden away, but also the uncertainty that you are doing the right thing.

Build Emergency Funds

Another way to prepare for illness or accidents that take you out of work is building an emergency fund. You may already have one to deal with repairs in your home and other emergencies. But you might think about building it up a little more, in case you need enough money to live on for a short period. Some people save between three and six months’ income, just in case.

Start preparing for these situations, and you’ll be grateful if anything ever happens. If it doesn’t, you’ll still be glad you took the right precautions.

Beagle Street – Life insurance that makes you smile

A rule of thumb if you are trying to sell a product – if you make your audience smile or laugh, you have a good chance of getting your message across. A good case in point is the latest video campaign for Beagle Street, who are promising a new way to buy Life insurance – one which is quicker and easier to understand, with less jargon, less paperwork and far less questions. Sounds good doesn’t it.

Beagle Street are getting their message across with a rather amusing film that is based on those classic nature programmes that the BBC is famous for. A David Attenborough soundalike is walking through a museum of extinct species, examining the bones and fossils they left behind. But there is a new species that has joined the ranks of the T-Rex, the Stegosaurus and the other dinosaurs. The new dinosaur in the museum is the ‘Independent Financial Advisor’, who finally became extinct in 2014.

The narrator explains that IFA’s, rather than offering help, actually made choosing policies such as life insurance more difficult, by using jargon and statements that the average person on the street didn’t understand, tendering reams of documents that all needed to be read before being signed, and generally being a little bit cheesy with their ‘shiny suits’ and briefcases.

Beagle Street is offering a simpler, quicker way to sort out you life insurance through their website. Whether you have had positive experiences of Independent Financial Advisors, or negative ones (and I can say that I have had both since we first applied for a mortgage 11 years ago, including a real horror story when trying to buy our house.) I’m sure you will agree this is a clever and funny way to sell Life Insurance.

*This is a promotional post.