Why having your insurance is better - Marvin Germo

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Why having your insurance is better

By: Marvin Germo | April 18, 2021

A lot of people are still in doubt when it comes to the benefits of life insurance. They still believe that it’s just another expense that they don’t need in their lives. Don’t be someone whose mind is so closed about insurance. Like investments, it is important especially if you want to have financial freedom when you retire.

Insurance is something you should consider when you are already working. It’s an asset that you need to save up for. So, for those who have just heard about insurance or you are someone looking for reasons why you should push through with your insurance, here’s why having your insurance is better.

Start from scratch

Did you know having your own insurance is like having an asset that you can give to your family or child? If you started from scratch, then this is the best way you can start accumulating assets. Start from your insurance. Then slowly add assets to your wealth. So, even if you are not born rich, you can still be financially free. You can always start from scratch. There’s nothing that should bar you from having your insurance, even your financial status. Having your insurance is a good start to accumulate your wealth.

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Financial security for your family

Aside from providing your assets for your own benefit, you can also have financial security for your family. This is actually the main reason why people believe in insurance. There are thousands of families who have benefited from their insurance when the holder dies. It’s not a myth and it’s not just a presumption either. Since the holder is paying money, it’s guaranteed that the family can get something from it as long as the parameters are met. So, if you don’t have enough assets or money to leave your family when you leave this world, having insurance becomes the top option.

Better value for your money

If you spend your money today on things that depreciate, such as gadgets, clothes, shoes, and anything that doesn’t increase in value over time, your hard-earned money becomes less and less valuable. The best value you can get for your money is when you spend it on something that benefits you for the long run, like properties, investments, and of course, insurance. Insurance is a good value for your money. It’s not just an expense. It’s an investment. It’s an asset.

Relief from your debts

Have you ever thought about what would happen if you leave your family with debts? They would want to clear your name even if you die, so, instead of not paying your debts, they would still try to pay the loans from their own pockets. What insurance can do when you have debts is to relieve you from all your obligations. Your family will have money to use to pay your taxes, loans, and other obligations to other people. Insurance is not just security to the finances of your family, but security to your creditors as well.

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