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Why insure life?

Life insurance is an opportunity to accumulate and save funds for a certain date/event in combination with insurance protection of health and life.
Why insure life?

What makes life insurance different from other types of insurance?

  1. Under this system, the insurance company always pays insurance money: both in the event of the termination of the contract term, and death of the insured person. It means that the insurance payments made will work and not disappear anywhere. But with other types of personal insurance, insurance payments are made only in case of insured event occurrence.


  1. The funds for accumulative insurance are invested, and the accumulative capital grows through the profit received.

With other types of insurance, neither accumulation of amounts nor their increase due to investment income occurs.

After graduation, a person starts earning the first money. Usually, the income gradually grows and reaches the maximum mark by the end of the career. Then comes the age of transition from a full income to a minimum state pension comes. To live comfortably that period, you need a reserve (capital), which can appear only at the expense of personal investment and savings. So, while a person works, he must save a small percentage in order to secure his future.

That is exactly how the universal life insurance policy works.

A person makes contributions during the whole term of the contract, and as a result, a capital is created, which will feed him afterwards. Money, paid for insurance, comes back at the end of the contract.

There is also an insurance part of the contract, no less important.

Unforeseen events may happen to any person. They worsen health and affect the ability to work. Such cases can seriously interfere with work, depriving the income.

An accident is a robber: the level of income is reduced and the cost of treatment is simultaneously increased.

The life insurance policy will provide an insurance payment. This money compensates for lost income, helping to restore health.

Death is always a tragedy. But if you imagine the sudden death of a person who financially supported the family, then poverty will add to the grief of human loss.

Parents’ love for their children is in no small way showed by the fact that they think, how their children will live in case of parents’ passing away. The insurance coverage in case of death is an expression of adults’ care about their children.

Fathers of families do not have the moral right to leave the house without providing their family with financial protection. Usually life insurance is a part of the contract, it provides for the accumulation of money for life in your free time. But if it so happened that a person died before he reached the end of the contract, his relatives will receive an amount not less than the one he planned to accumulate.

Therefore, the meaning of universal life insurance is very simple: a policy is protection + capital.


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