The life insurance product line is wide today. It includes endowment, investment insurance, travel insurance, sportsmen insurance, the programs with and without a risk component, and programs with extra services (telemedicine, check-ups). Credit and investment insurance are the most popular types of personal insurance. They show significant growth compared to last year and have a fairly large potential for growth.
"I am 30 years old, married, but we don’t have children yet. Me and my husband work, we have a good income, and each of us has insured our lives. It is a term insurance, and we are beneficiaries of each other. As a result, we were able to take an inexpensive mortgage,” says the heroine of the Business Insider article. If something happens to one of the spouses, the other will receive $500 thousand. The monthly premium on such a policy is $26.
The experts recommend to insure spouse’s life if one of them earns much more. “As a rule, when a person works hard, he cannot do household chores. This means that this work will fall on the other spouse and if he passes, the person will hire a housekeeper. These expenses as well as financial shortage in case of breadwinner passing are compensated by the insurance company, says the Business Insider.
Source: https://www.businessinsider.com/personal-finance/why-have-life-insurance-dont-have-kids-2020-6
Photos are from open sources.
