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Life Insurance: A Secure Way To Protect Your Future.

Life Insurance: A Secure Way To Protect Your Future.

Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

Importance of getting a life insurance

No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

Choosing the right insurance plan

If you’re about to select an insurance plan, you should consider some important factors:

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  • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
  • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
  • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

Differences between life insurance plans

Here’s a short brief of some plan categories you can choose according to your needs:

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  • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
  • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
  • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
  • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
  • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

So what are you waiting for? Plan for your future and live a happier and carefree life today.

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Featured photo credit: aryehsampson.com via aryehsampson.com

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Erick Clifford

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Last Updated on July 5, 2019

5 Reasons Why You Should Always Be Yourself

5 Reasons Why You Should Always Be Yourself

When it comes to being yourself, there can be a lot of pressure from the outside world as it tries to influence who you are. Living in a society that is constantly developing, it’s important for you to always be yourself from the inside out. When you deeply know yourself and the boundaries that you have set, you are more likely to experience a fulfilling and rewarding life. Without knowing yourself and establishing those boundaries, you can easily be pushed around and end up on a dirt path.

“Enter through the narrow gate. For wide is the gate and broad is the road that leads to destruction, and many enter through it. But small is the gate and narrow the road that leads to life, and only a few find it” – Matthew 7:13-14

You have the option of taking the path that is broad or taking the path that is narrow. You can either conform to what life wants you to be, or have the courage to remain true to yourself throughout the years. It’s definitely a challenge to have a strong sense of self when we are constantly getting distracted and being influenced by the media and society’s way of life. But if you want to reach your fullest potential in life, it all starts with being yourself.

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Why should you always be yourself?

Because you will:

  1. Live in alignment with your values and beliefs. Being yourself is all about knowing what you believe in and the values that you live by. When you are not yourself, you will take on the values and beliefs of others. This is when you start conforming to other people’s expectations and way of thinking. When you know your values and why you do what you do, you will live according to your own values and beliefs.
  2. Establish your own identity. When you are able to have a solid foundation of being you, you are establishing your own sense of identity. No matter what happens in your life, you will always know who you are. There will be times where you may feel lost or distracted, but if you have your own identity you’ll be able to get back on the right path. Without establishing your own identity, you may easily conform and lose yourself.
  3. Build courage. It takes a great amount of courage when you decide to take the path that goes against the crowd. The reason why the majority of people take the broad path is because it’s easy. It’s easy to just follow the crowd. It’s more of a challenge when you stay true to yourself and establish your own identity. This challenge of always being yourself takes courage and inner strength. No matter what comes your way, you’ll know how to handle it.
  4. Establish boundaries. When you are always yourself, you know what your limits are and the boundaries that you have set for yourself. When people cross your boundaries, you will know. But if you don’t establish boundaries, people may very well walk all over you and take advantage of you. If you are always yourself and you establish boundaries, you are more likely to be aware when people start taking advantage of you. Create and establish your boundaries.
  5. Find focus and direction. When you are always yourself, you are more likely to have focus and direction in your life. Imagine someone who is constantly conforming to other people’s expectations. Do you think this person has focus and direction? I don’t think so. When you stay true to who you are, you are more likely to know the goals you want to accomplish and how to go about accomplishing them. You are able to stay focused and know which direction to take in order for you to accomplish your goals.

No matter what you experience in life, the only person that will always remain constant is you.

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Featured photo credit: María Victoria Heredia Reyes via unsplash.com

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