If there’s anything that modern cinema has taught us, it’s that the apocalypse is coming—it’s not a question of if it is, it’s a matter of when and how. We’ve certainly been shown a plethora of ways that we all could meet our apocalyptic doom, but how seriously have we taken it? Are we really prepared?
Sure, we all have a stockpile of crossbows, water bottles, and hand grenades—who doesn’t? But if Hollywood is to really be believed, then no matter how the apocalypse comes about—a zombie hoard, an asteroid, or wicked mother-nature—at the end of the day, someone will save the day, and life will continue on. Find out more here: http://www.suncorp.com.au/insurance/life-insurance
If that’s the case—are we prepared for what happens both during and after the apocalypse? This might be where life insurance could play a very significant role.
ARM YOURSELF FOR THE APOCALYPSE… WITH LIFE INSURANCE
Now, obviously, if the whole world sinks into the ash, there will be little point to life insurance. Who would pay the claim if the all the life insurance companies are demolished or if all the life insurance agents are zombies?
What I’m proposing here is… what if life goes on? Picks up right where it left off having hurdled a major speed bump? What happens when the life insurance companies are aware that something like the apocalypse is possible and starts figuring it into their policies and—more importantly—their premiums!
GET AHEAD OF THE INSURANCE COMPANIES
We all know the apocalypse is coming, but those life insurance guys? They’re behind their computers all day long doing insurance things—they’re not as in touch with the modern world and they’ve yet to put anything about a possible apocalypse into the fine print of their policies.
Take advantage! Now! Strike while the iron still has electricity! You get it.
As mentioned, it’s very possible that it could all be for nothing if all the insurance companies get crushed by asteroids—though, that would be quite the coincidence. Really? All of them? It’s always a good idea to be prepared, though, and that’s what life insurance is all about—being prepared for the unfortunate.
WHY BUY LIFE INSURANCE
The most common reason life insurance is purchased is to protect and provide for loved ones that would be financially handicapped should something happen to you—their primary source of income. If you have children, life insurance should be a no-brainer; there’s a substantial amount that children need as they grow up, college tuitions that need to be paid for, and the list goes on and on from there. If something should happen to you, those things are still going to happen and still need to be paid for, and you’ll probably sleep easier at night knowing that, no matter what, they’re taken care of.
In order to do this, you’ll need to purchase either whole life or term life insurance.
- Whole Life: It’s exactly what it sounds like, actually. It’s a permanent life insurance policy that spans the course of your whole life. These policies aren’t typically recommended, however, as they come with fluctuating rates, fees, and if you should ever want to forfeit the policy and opt for another policy, or another investment strategy, you’d be saddled with a hefty forfeiture fee.
On the bright side, however, whole term policies do provide a significant tax-free cash investment incentive that matures and accumulates over the course of the policy’s life. These policies, overall, tend to work out well for individuals with significant medical history who don’t want to worry about having to find an insurance company that will cover them later.
- Term Life: Again, it’s exactly what it sounds like. It’s a policy that you hold for a certain term of years—typically, 10 to 30. These policies are flat-rate, a little more simplistic—all you receive are death benefits—have no extra fees or costs, and once the term ends, you can readjust the policy to be better suited to your current financial situation. Having the ability to refinance your policy is a huge win—you never want to be paying for more than you have to.
With all of this in mind—and the possibility of the apocalypse looming overhead—just how ready are you for whatever may come your way? Psst. That was the lesson to learn here.