Misconception about life insurance.

[Fiatless]

An acquaintance in my office told me that his mother was crying when he told her that he wanted to take out a life insurance policy. He informed me that there is this belief among some people that taking a life insurance policy is like preparing for death. The mother thinks that he is too young to take a life insurance policy, he is 42. Her assumption is that the main people who need insurance are old or sick people.

I told him that a life insurance policy is a good financial plan that can be profitable. It is also a means of securing the financial future of your family. Life is unpredictable, and it wouldn't be a bad idea for your family to have some amount in challenging times.

At what age do you think it's ideal to take an insurance policy?

[passwordnow]

At what age do you think it's ideal to take an insurance policy?

As early as it can be. I have thought of that as well about preparing my death but that's the point of being protected. We're concerned if we leave this world and we're not insured and there's not that much for the loved ones that we'll leave to take care of everything which mostly are about expenses. I have my insurance and renewing it at all times because I know how important it is, it's a way to protect the assets and investments that we have saved. Because someone who unexpectedly pass and then not insured results to selling all of the hard earned stuff to cover the death expenses.

[Frankolala]

I don't know how long one will live on earth that he needs life insurance. However, the one that I wanted to go for wasn't cool with me because part of the terms and conditions is that, it's when you die untimely, is when your family can benefit from the money. They told me that the moment, you're above 60 years, they will not pay any money to the deceased family. I don't think that a rich man needs life insurance because his lawyer is there to make sure that his properties are shared according to the will.

[Agbamoni]

At what age do you think it's ideal to take an insurance policy?

Once you are up to the age as written in the constitution that is permitted to get a life insurance, there is nothing wrong in doing so.
The reason for life insurance is to provide a safety net for your family or loved ones. So yeah, it mustn't be only when you have a nuclear family. The extended family is also included, that is...if you want to give them a good life no matter what. Death is something we cannot run from and we dont know when, once we have the finance, dont hesitate to have one.

[KingsDen]

It really depends on people and their country's constitution.

• Some countries has life insurance as a mandatory practice for all her citizens;
• Some countries treat it as optional
• Some people don't know the essence of life insurance
• While some people believe it's for people who are about to die who has aged as seen in Op.

But it's really far from all these;
Meanwhile, I don't need life insurance. I'll buy bitcoin and hand over to my people

[Dunamisx]

I told him that a life insurance policy is a good financial plan that can be profitable. It is also a means of securing the financial future of your family. Life is unpredictable, and it wouldn't be a bad idea for your family to have some amount in challenging times.

At what age do you think it's ideal to take an insurance policy?

We all know that insurance are if different kinds, but this one that particularly talks about life insurance could be scary atimes, but I will advise we should consider on this before taking it.

Here are my few suggestions regarding going for life insurance.

1. If you're a driver by profession, try to take this and insure your life, because mostly all the companies vehicles too are under insurance, if anything happened to you, the car will be replaced and the life is lost without a compensation.

2. If you're a family man and has more than two children, it is also important that you take this, because anything can happen to you or any of the family members which we never pray for, but we all know that death is something everyone will have to experience in their own time.

4. If you're aged 50 and above or developed some health challenges that are not yet complicated but could pose a future threat to life, try life insurance.

[Hispo]

I believe taking a life insurance is very situational, it could depend on one's profession and also in the country one lives in. Here in my country is not common for people to have a life insurance, mostly because people do not have enough money to hire those services and rather to focus their money to acquire basic goods and services, like food, shelter, water, electricity, etc.
Actually, none of people I have met from a while seem to be interested in life insurance, they are more interested in health insurance.

It could be a rather a cultural thing here in the Caribbean, I have always thought people from the anglosphere have more interest in life insurance than we do.

[Mhizlove]

At what age do you think it's ideal to take an insurance policy?

In this life insurance don't have an exact age to reach before taking an insurance policy, it's all depends on the situation the person is.
just have a business or something that will be giving you money steadily then that's the best way to start from, because insurance is not only on healthcare and the rest, it's also help you invest and save for the future.
All am trying to say is that the right time to venture into insurance policy is when you start earning and have properties or something you can protect and don't wait for something to happen before thinking of it.

[Fiatless]

Meanwhile, I don't need life insurance. I'll buy bitcoin and hand over to my people

The advantage of life insurance is that the company will give your family a certain agreed amount in case of death. Even if you just paid your premium for a few months, the agreed amount will still be paid to the dependents. If nothing happens to the contributor after an agreed time, the insurance company will still give you back your total contribution with interest. An insurance policy is a different package from investing in Bitcoin. It's a cover-up in times of emergencies. Keeping Bitcoin for your family is good, adding an insurance policy it's not wrong.

[Findingnemo]

42 is young? People who get health insurance and life one once they start a real job that pays them well. Sooner the better because one who starts in their young age will pay less than someone who is starting in their 40s.

It is preparing for the death, we don't want to leave our loved ones with debt in case something unexpected thing happened, it can't replace the life but defenitely can save them from lot of humilation so don't shy away from a good insurance, it is mandatory for every one.