What are the Benefits of Insurance?

Keyword: Individual life insurance, disability insurance, long term care insurance

We live in a constantly changing world with a lot of uncertainties. Most people don’t like confronting the issues that insurance addresses, sweeping them under the rug and pretending that troubling times will not happen to them; at least not in the near future.

These events are inevitable and when it happens, the only thing we can do is to prepare the best we can. Emotionally, it can be a tough ordeal; but financially, it should not be so. This is what insurance is made for, to soften the blow of your situation by largely doing away with potential financial shortcomings.

There are many different insurance products in the market, such as life insurance, auto insurance, long-term care insurance, disability insurance, and health insurance, each serving a different purpose.

Advantages of having the proper insurance policies:

–     Protecting a family’s income. The first type of insurance we should consider is a disability income insurance policy. This type of insurance ensures your family continues to receive your monthly income should you become disabled and cannot work. While almost everyone has some type of life insurance, most people do not have a disability income insurance policy. The fact of the matter is, you are more likely to become disabled before age 65 than you are to pass away before age 65. For most people, being without their monthly paycheck for more than a couple/few months can utterly wreck their finances.

  • Protection of a family’s financial welfare in the event of a death. The next type of insurance we should consider is a life insurance policy. This type of insurance is typically offered to cover the breadwinners of the family, and ensures that the remaining family members get the appropriate monetary support. There are also people who can use their life insurance as a part of their savings plan.
  • Insurance Protects You. In the event that you fall ill and cannot do two “Activities of Daily Living” (walking without assistance, bathing yourself, clothing yourself, getting out of bed on your own, using the restroom unassisted, feeding yourself), you will trigger a benefit from your long-term care or disability insurance policy. Of course, you need to purchase a long-term care or disability insurance policy before you cannot do those ADLs!


  • Protects your insurability. Perhaps you may have heard of people denied of life or health insurance. This may be because they are already suffering from a medical condition, or are too old at the time they thought of applying to make insurance remotely affordable. If you have no medical issues and are able to get a life insurancepolicy now, it would be in your best interests to act now to secure your insurance policy.


Most people are unaware of what the advantages the correct insurance can provide. There will always be uncertainties in life as the days go on. Do not let yourself be a victim of what can be addressed now for a nominal cost. Rather, have a plan and live your life to the fullest!