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.

[palle11]

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

No age barrier or limit though and I think it best fits the category of people who are endangered. To narrow it down, what I mean is that the category of people whose job is perceived as danger or dangerous that any little accident can lead to death instantly. For example those in aviation section like the pilot, the air workers who follow the plan, those who work in water like divers, captains of ship and the crew members. Those who work in emergency centres like fire fighters, those working on inflammables like gas stations, fuel stations etc. Death actually gives no warning and everyone needs a life insurance, no age limit.

[Solosanz]

While the rich take out a life insurance for their newborn baby, is the parent prepare the baby for death? jk.

That's what happen in developing country, when you make something different, people will see you weird. It's not surprising to see many family are complaining about the wealth of their parent/husband have because they keep silent for their whole life, then when they passed away, the family can't manage the money or the business.

I think at 18 years old it's the best age to take out a life insurance, at that age they usually have move out from their home or they start to work. Anything can happen on the street and there's always a risk from the job we work.

[franky1]

economics:
imagine normal healthy life expectancy is 85. if you add up the monthly premium from your current age until the age of 85, if the math doesnt math to be economically beneficial then dont do it.

health:
ensure the insurance will cover all death reasons, all health problems, all situations, if it does not, then dont do it

variable:
if the insurance has a variable rate that increases if you declare different profession/health changes whilst insured, dont do it

basically if there is any reason whereby the premium can become unaffordable or be cancelled after years of payments, whereby you get nothing back for years of involvement or if you do die they reject the claim. then dont do it. if the amount you put in becomes more then you get out, dont do it

[₿itcoin]

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?

You are right, yaa, this is a typical false impression. Many people anticipate that come to have life insurance means yearning for death, which is litarally foolish. Insurance is not about thinking about death; rather, it is about thinking rationally about money &  responsibility. In my opinion, the sooner you do it, the better. Because then your premiums will be lower &  you will have a safety net for the future. When old age or illness comes, insurance can lose its importance. Life can change in strange ways &  no one wants to leave their family in danger. So it is not too soon to come by insurance at the age of 42

[BitBakerr1]

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

No age barrier or limit though and I think it best fits the category of people who are endangered. To narrow it down, what I mean is that the category of people whose job is perceived as danger or dangerous that any little accident can lead to death instantly. For example those in aviation section like the pilot, the air workers who follow the plan, those who work in water like divers, captains of ship and the crew members. Those who work in emergency centres like fire fighters, those working on inflammables like gas stations, fuel stations etc. Death actually gives no warning and everyone needs a life insurance, no age limit.

You are correct there's no age limit infact it is better that you start it when you reach an age you can be said to be an adult, in my country from 18 years and above you are considered adult and from this age it is advised to have a life insurance.
I agree with you when you talked about category of people however everyone is advised to have it because even staying at the comfort of your home is risky Because accident that can lead to your death can happen.
There's something that happened in my town a man was staying in his house that was a bit closer to the road and a car that lost break entered into his house and killed him, even electric shock can happen at home and can kill someone so as long as you are living you are at risk and you need a life insurance.