For some people, insurance is something that is not important. Why is that? Apparently after traced the problem why insurance is not important, because they do not know the concept and workings of such insurance. In this article, I will illustrate the concept and workings of Account Insurance. I call this account is the account to-4, or Long Term Account which you must have.
Account 1, is a savings account, I am sure you already have these accounts, eg savings in the bank.
Account 2, is a Deposit Account, you must also already have this account, and the value of their deposits is quite well.
Account 3, the Investment Account, which you already have it, home, land, vehicles, gold, or even stock.
Well, I am talking about this account, I call the account to-4, or Long-Term Account. This long-term account has the advantage that is not owned by another account, while the advantages / benefits are:
1) Ability to protect valuable assets, namely you.
You are the assets. If you already sick of the problems is cost. And usually this is a very large cost. If not prepared health insurance since the beginning, then the assets that you save can be gone in a flash to pay for treatment. You do not want this to happen to you instead? So, protect yourself with Long-Term Account, so that other accounts are still there for those people you love.
2) Able to maintain your family's lifestyle.
How many monthly costs that you usually give to the family for costs daily necessities, electricity costs, payroll assistant, etc?
I have a family, usually to pay for daily necessities of each month is $ 500. When I left my family (wife and children) for 1-month course will provide funding of $ 500, while out of town to work for a year then I will give 12 months x $ 500 = $ 6,000 to my family, so families can enjoy life in comfort and of course met needs without reducing lifestyle.
But when I die, how much should I prepare? What about the family then? Do not let the wife or child to be abandoned just because that is not financially well prepared.
According to LIMRA Survey for Families survive, Wife could anticipate costs everyday needs and can adapt as well as the children stay in school and normal life as usual, without lowering his lifestyle, you must set up a fund of: 24 months (2 years) your expenses each month. Or with your expenses such as $500 per month, meaning you have to prepare the fund for $1,200. Have you prepared? If you do not already have an account you can get it in the long term account, the only by setting aside $50 for life insurance, it will generate immediate funds $12,000 up to $15,000 when there is a risk that happening to you.
3) Ability to protect your income potential
You are now aged 35 years, let us say $800 monthly income. Your pension plan at age 55 years. Income Potential means you are 20 years x 12 months x $800 = $192,000. In math, you have the ability to create a fund of $192,000 in the next 20 years, and because of career, income or your business will increase, surely your income potential will increase as well. Income is certainly you dedicate to the people you love.
When there is a risk that happening to you, what about the income potential that should be you can get. You can keep your income potential will continue to materialize and become reality through a program that is on this Long-Term Account.
4) Ability to deliver the secure and prosperous retirement
Everyone is basically able to retire with a secure and prosperous, if you know the key and apply it. But retirement can also fail, because the sick. Well this is the pain that can erode the funds that you have prepared for retirement.
Through this your Account Insurance will be guided by consistent and discipline to run it, so that your pension is guaranteed. Because in it there are programs / benefits / health protection, critical illness, permanent disability and accidents. So when there is any risk that happens to you, your retirement funds remain available.
5) Able to provide warranty Liability Parents for Children.
Our duty as parents one of whom is preparing school fees, or fund education for children in the future. A good education must be supported with no small cost. For that need to be planned early on, for funds set aside is not against you.
Another liability is to provide venture capital for the child, when you find the kids wanted to be an Entrepreneur, help by providing venture capital. You may see and ponder, about easier to have substantial capital or no capital in opening a business?
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