Do I need life insurance if I am completely healthy?
We’ve all heard of life insurance, yet brush it under the rug and discard the concept as if it’s only for the older generation or those on death’s door. However, this is not the case – in fact, you’ll likely struggle to purchase life insurance if you’re already sick.
First, let’s quickly define life insurance so that we’re on the same page. Life insurance, also sometimes referred to as “life or death cover,” is an insurance policy that pays out a set amount of money if the insured person dies or after a set period.
It’s important to note that this type of insurance is not for everybody. For instance, if you live alone (are the only person in your household) and are not financially responsible for others, you may not need to invest in life insurance. On the other hand, if you are a parent or provider of your household, then this insurance protects those closest to you financially in the event of your death.
However: what if I am the sole provider of my household, but I’m completely healthy? Firstly, good question. Whilst exercise and a balanced diet can prevent many viruses, diseases, and harm to the body; it can only prevent so many. We’ve all heard the stories of the fittest men on earth being diagnosed with cancer, Lance Armstrong, for example (discarding the doping scandal). It’s completely random, and for this reason, it is not for everyone.
Life insurance is essential; there’s always something we can’t predict or prevent
Life is a set of challenges we must overcome. Every day there are new challenges, some days these challenges are harder than others. It’s reported that just under 40% of men and women will be diagnosed with cancer at some point in their lifetime. That’s nearly half of us, one in two. Sure, the odds may be slightly more favorable if you’re healthy, but there’s not just one type of cancer. Cancer can manifest itself in many different ways; pancreatic, lung, breast, thyroid, etc. the list goes on.
Purchasing insurance is not about protecting you. It’s an investment into your family’s future should the unexpected happen. Whilst we wouldn’t wish this on anyone, we do wish more families would be prepared.
To find out more about the Professional Insurance Plans life insurance packages, click here.