“Our life is unpredictable and even more so when traveling, so life insurance should become a guarantee of confidence and security. I have come to this conclusion by deciding to celebrate my 50th anniversary with fifty journeys.
In marriage, I always scrimped on myself, but after the divorce I thought about traveling and getting financial independence.
At first I made a plan of fifty places where I needed to visit next year then I began to study the insurers’ offers. A financial adviser was surprised that I had no life insurance policy till the age of 49. The specialist said there was a classic life insurance, retirement annuity and pension plan. Life insurance covers only a certain period of time and two other products can guarantee payments until the end of life.
The next thing I had to define was my needs. The financial consultant asked if I had any debts or loans. He also explained that two factors affected the monthly payments to the insurer: the contract duration and my health. I had had to go through a series of medical tests before several companies provided calculations.
Ultimately, I settled on 15-year savings for 200 thousand dollars. The annual bonus is $565.
The insurance policy purchase gave me a sense of control that I desperately needed. As a result, I became more confident and calm.”
Photo and text source: https://www.businessinsider.com/im-glad-i-got-life-insurance-before-taking-50-trips-in-2020
