how insurance affects life of people?

Question

i need it for my project so plz give me brief inforamtion

Answer 1

Many people in certain stages of life think they do not need life insurance coverage. This article will attempt to dispel certain misconceptions about circumstances where consumers think they don't need protection, but actually may. If you're single or married with no children, or even if you're retired, you should absolutely consider shopping for term life insurance.



Already Have Coverage Through Work?
Employees pay premiums for employer-sponsored health coverage based on risk profiles that take into account factors such as the age and health of the entire group. That system can extend to life insurance as well. If you have a job, is your employer's life insurance program the best deal around? Not necessarily!

The convenience factor of having a company benefits representative do the footwork and choose a policy, then enroll you for automatic deductions, is appealing. But it may come at a price: Especially in larger companies, employees are paying a premium based on the risk profile of the entire employee base. That means if you're a healthy 30-something, you could be paying a premium that factors in employees twice your age, some of whom may have health problems. Not necessarily a good deal for you.

Even if you have a policy through your job, you can think about canceling your work-sponsored policy (which may be costing you more for less coverage) after you get a more affordable and customized term life insurance policy in place.

Are You Single?
If you are single and do not own a home, your life insurance needs are probably not as high as they are at other stages of your life. But, what you do need to consider is whether anyone relies on your income. If you are single, who would assume the burden of paying for your final costs if you were to pass away? This may fall to your parents, who have hopefully planned well for their retirement but are also likely to be living on a fixed income, one which does not take into account the possibility of you passing away before them.

Single women, especially, often lack adequate life insurance coverage. Some studies show that as much as 64 percent of American women carry no life insurance. Many single women, especially those with children, may be on a tighter budget than dual-income couples, and as such, feel they can't afford life insurance. However, they may be surprised to find out that a 25 year old healthy woman can purchase a $200,000 10-year term life insurance policy for under $13.00 a month (even lower than their male counterparts, as women are more likely to live longer, which lowers their life insurance costs). If you are a healthy 45 year old, that does not mean it is too late to buy affordable life insurance; your cost for the same policy as above would only be about $19.00 a month. If you have kids, it is especially important to make sure they will be taken care of if anything were to happen to you. Especially since term life insurance is so affordable.

Are You Married, But Have No Children?
If you are married, but have no children, you may also think you don't need life insurance coverage. It is still important to think about whether your spouse would be able to cover all costs if you were to pass away, especially if you own property or have large debts to pay off. If you do eventually decide to have children, try to remember to reevaluate your life insurance needs before your children are born, that way the father is insured in case anything were to happen to the mother in childbirth, and you will both be covered if anything were to happen to either of you as your children grow up.

Are You Retired?
Life insurance needs may not be as high as they are at other stages in life for those that are newly retired. But, it is also true that most new retirees do need to think about maintaining an adequate level of coverage. Consider your children or spouse you may leave behind. Even though your children may be grown and on their own, and your spouse may be able to live comfortably on his or her retirement savings, there are many special circumstances in which they may find themselves in financial trouble if you were to pass, or vice versa. If you are very ill before you pass away, you may incur significant health costs, many of which may be passed on to your spouse or children if you pass away. Many seniors may have to live with a child if they are on their own and need help, and this may put a financial burden on the affected family members. There are also funeral costs to consider. It is important to ensure that your family members can recoup any financial losses after you pass away.

Conclusion
Life insurance coverage is to protect you and your loved ones in the unfortunate circumstance that you pass away. Make sure anyone who relies on your income is covered, or that any debts you may possess will not be passed on to loved ones. Term life insurance is an affordable way to cover your needs at any stage of life, and offers the added benefit of letting you choose your coverage amount and term length.

Answer 2

People pretty much hate it and/or take it for granted, unless they want it and it's not there. Examples: The 35 year old dad who dies leaving a wife and 4 kids and no income. The hurricane katrina victims you saw on tv, who lost everything, and didn't have renters insurance. Or the katrina homeowners who didn't have flood insurance. The occasional fire you see on tv, where the homeowners let the policy lapse. The auto owner who had his car stolen, but didn't pay the car insurance bill on time, and now has no car and STILL needs to pay the bank off for the next four years.

I see uncovered flood claims ALL THE TIME, from people I offered flood insurance to, and they refused, saying, "I'm not in a flood zone".

Answer 3

the in common words influence it has is in case your straightforward, the reassurance corporation would ask for those medical files. Then they could also pick your physician to grant him an record of your cutting-edge project. that signifies that your superb now without difficulty. that is extra perfect to be straightforward because in case your no longer they could deny a declare interior the first 2 years of the coverage in case you lie. in case your superb now it probly received't influence the total classification. What i information is this: a million) prepare for a time period coverage. different poster is ideal about that. 2) tell the agent you pick it non-bind. which means you're not to any extent further coated till they approve you and grant you a particular fee. then you truly can settle on in case you pick the coverage or no longer. you're not to any extent further coated till you settle for the coverage and also you do not pay some thing till you settle on. call round for some costs with countless the enormous providers. And, your health received't influence your husband's existence coverage coverage in any respect. then you truly comprehend what you're managing.

Answer 4

Get and compare quotes from different companies at - INSURERATES.INFO-

RE How insurance affects life of people?

i need it for my project so plz give me brief inforamtion

Answer 5

its a scam. the companies are cool until they have to pay out. then they raise your rates or drop you completely. they are the reason medical expenses are so high. they have created their own existence. way back when, people used to help others out. now you need insurance. what does that tell you?

Answer 6

my insurance saved my life. Pre- operation cost was 460,000
dollars. Surgery was 270,000 dollars. My cost was 250.00
If I did not have insurance I would be dead.