Luxury or Necessity: The Argument for Life Insurance
Updated: Sep 21, 2020
In third world countries, life insurance is a luxury. This is unfortunate considering the quality of life in these areas is way below the required international standard. Most people can’t secure a life insurance plan to protect the future of their families. Most people here live on the edge of life, with little hope for their family or the future. The life expectancy is low, as there are much higher rates of infectious disease. Since they are primarily concerned with their survival, many people cannot afford to worry about what will happen after they die. They do not have the option to provide for their loved ones after their passing. For those of us who have the opportunity to purchase life insurance, we should not take it for granted.
Plan for the Future
The value of loved ones cannot be overemphasized; our families are the reason we want to build a bright future. In financial planning, the first stage should be insurance. Without life insurance, you don’t have the ability to take care of your family after your passing. This means your financial planning is incomplete. All over the world, life insurance is not paid proper attention, and this is an issue people need to look into and take seriously. Life insurance is a system that gives your family assurance for the future and hope for a better life. If along the line anything happens to you, the insurance company will provide for your family where you cannot.
The Argument for Life Insurance
Generally, the reception from third world nations on the issue of life insurance has been relatively low. Over the past decade, it has gradually increased and people are gradually starting to rely on the safeguard it provides. There are some things in life that are inevitable. We will all eventually pass on. It cannot be avoided. However, we can avoid leaving our loved ones in difficult financial circumstances. All it takes is preparation.
In developed countries like the USA, life insurance is easily accessible and affordable. We have no excuse not to take advantage of this option. It gives your family something they can count on when you are gone. It allows you to care for them… even in your absence!