Are there any tips to insure your life? It is priceless! To estimate the value of person’s fate is the main task of insurers and they do it perfectly as nowadays life insurance policies are taken like hotcakes.
Every insured person makes payments consciously but don’t expect to get the money back one day as the words “to get coverage on life insurance” sounds like the tragedy to us. When do people claim for the insurance money? They receive them, when the insured person dies or if the young expecting mother becomes a widow. We spend money on life insurance, save them and are afraid of the day, when we will get them. Very often it is the day of some accident, some disaster, some disability, so this money can be taken but they won’t make us happy. Nevertheless your insurance policy can do something you have never heard about before. They are affordable any time without waiting for some tragic event in your fate.
Here are five unusual tricks, which can be played by your insurance. You have never known them before! I bet, you will be impressed and later this information will do you a lot of good!
You should know that these tricks are affordable only if you are the happy owner of permanent insurance policy. Otherwise you can miss this article. If your term life insurance (it means, that the expiry date of your policy is limited. You can get the coverage only in case of death within ten or twenty years – the term is defined in your policy. If you stay alive, you won’t get any coverage or just a little one). Permanent life insurance really can do magic things.
Tricks Your Policy Can Play
- As education is the main value in our life, the top-place in our list is occupied by studying at college. If you have made up your mind to study at the college but you are lack of money, you can get them from your permanent insurance policy. You can borrow this amount of money from your policy for a certain period of time. This act may impact your coverage in case of death, so don’t be too quick in making such a deal. Discus it with your insurance agent and beneficiaries. If you have already got your first education but you feel that you need one more to revive your career, it is also possible to get some money from the insurance policy.
This option becomes affordable due to the cash savings component of your policy. Every permanent life insurance has this component but not every insurance company allows using it. You can consult your agent and apply for the loan relying on this component. If you get this loan back, the amount of death coverage will remain the same as it was agreed in the contract. If you won’t get these savings back, your death coverage will be reduced.
- The second place in the list of tricks is taken by business activity. If you have dreamed to start your own business but didn’t dare to take the credit in the bank, your life insurance policy will be on purpose. You can get a loan easily, without filling a number of applications and convincing your financial adviser that you will be able to return the credit in time.
- This point is the saddest one. Sometimes an insured person becomes seriously ill. Cancer, AIDS or any other kind of difficult chronic illness can confine any of us to bed. To make our last days better, to get the necessary treatment and health care procedures, it is possible to take the saving component from the insurance policy. Very often it is very hard to find enough money to make the last period of life, when we are too weak and can’t work anymore, better. So some cash from our life insurance policy will make the last days of life calm and carefree.
- Our parents are our wings. Only when you have both of them, you can fly. But very often we forget to take care about them. Don’t blame yourself! We must care about our children; that is the main idea of people’s nature and one of the most important laws of life. Nevertheless our parents need our attention passionately, although they will never tell us about it. Some people, whom I know, take the cash savings from their life insurance. Thus it becomes possible to reduce the amount of work and not to lose money at the same time. They have enough money and some extra time to spend with their parents that become older and older all the time. Remember, that not always you will be able to visit your parents. One day you will desperately dream to see your parents but it will be impossible. And millions of dollars won’t help you to change this situation. That’s why it is better to get the loan from your life insurance policy and spend some extra time with your elderly parents. These precious days will always stay in your heart. You will never regret about this golden time that you life insurance gives you as a gift.
- The fifth point in our top list of tricks, which your life insurance can play, is occupied by business component too. But if the second point dealt with the starting point of business, this one is devoted to its development. The cash that you can take from your life insurance policy can be invested. This guaranteed amount of money will make you more self confident and aggressive in your financial strategy. How do think, when a person can be more persistent and successful in business, when he cares all the time about his bank credit and interest rate or when he is relaxed and can act with a cool head? Just get cash saving component from your insurance – and become more and more successful.
As you see, your permanent life insurance can be helpful in different, not traditional, ways. Getting money from it is possible and easy. But never forget this information – that you must return it in time. In case if you are not able to do it, your coverage in case of death will be decreased. This money is saved for your children, grandchildren and other beneficiaries. They will get less in case if you take the loan and won’t turn it back. So think in advance, if you really need this amount to borrow. This amount of money can be spent in any way. But we have showed you five really important things that are quite money taking and showed you the best way out. We don’t advise that you have got this loan and spend it for a nuisance.
Be careful with the loan and make your investments multiplying!