Tuesday, June 26, 2012

Could Life Insurance See Me Through Old Age?

By Richard Johnson


Maybe you are young now and never even wish to think about getting old or even the thought if a life insurance may actually be the answer to take care of you in senior years. Sad to say, you will find only a couple of things which are inescapable to us as we age, it's either we die early or we are to live the full old age.

What would it be for you? Only time can tell. The real question is will you be prepared to face both instances with full confidence and without fear? Should I really be preparing for retirement now or I could still get ready for it later on in life?

For those who have a family now, you need not look far as to what retiring actually looks like. How are your parents doing? Have they retired from work? Meaning literally not employed and do not need to break their backs just so the family business will continue to run. Are they financially free? Can they readily provide for their daily expenses as well as emergency expenses? Could they be traveling and having the time of their lives? Or maybe it's the other way around?

Retirement need not be an area of lack or a lonely phase of life only if people have taken the time to believe and also prepare for it way before it actually happens in life. You don't want to wake up in the future looking at the numerous years you've worked in order to support your children and now needing to ask support coming from them all simply because you missed out on preparing for the retirement time of your life.

Get yourself ready for your retirement is being responsible to yourself. Consider it as a means of paying yourself back of the years you've spent working in order to provide for your loved ones. It's going to be your reward, your trophy, your legacy.

One way to prepare is deliberately purchasing life insurance meant for retirement. Should you outlive the policy you've purchased for yourself, it gives you lump sum money you're free to use and delight in. This will obviously depend on the kind of insurance you have purchased.

There are those who actually have some kind of a good investment fund that goes with it enabling you to save up while paying for your premiums. It is also up to you if you would like this savings to be guaranteed or not. Whoever said you will only get to enjoy insurance benefits after you die? You will find living benefits you could readily take advantage of while paying for your insurance premium.

So what role will your life insurance play in old age? Whether you acknowledge it or not there's a desire to store up for that retirement season in your life. If we are really not taken out of the picture early, that only means we still have to support ourselves even after we retire from working. How do you picture your retirement years? Will you be traveling around the globe?

Blessing your children and your children's children? Or will you be depending upon your children to support your immediate needs, not to mention your growing medical care needs. Will you find yourself still working at the age of 70? Or enjoying the time with friends and loved ones without a care as you know you have financially ready for this time in your own life? Life insurance plays a big part in determining what state you will be throughout your retirement years, so better begin saving now.




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