I was having a casual conversation with a friend last night and we touched on the topic of having sufficient coverage.
Right now, he is having financial issues as he needs to pay for a high premium monthly. But as it is an endowment policy, when it matures, it will secure him close to $500K for three policies combined.
So it is a good thing as it can be considered as retirement funds.
So I told him to try his best to persevere. It is all for the good of his future retirement needs. This is important as he is well, gay, and won't be having a "family" when he gets old and whatever he has when he is old, will be useful to care for his needs.
So, to all my readers, never belittle the need for retirement funds and hence, if you are able to afford, do go for some life insurance plans that will pay out when it matures.
Again, if you need further coverage, approach your current agent for further analysis of your needs. The premium is lower if you start young and can help you cover any illness that comes after your coverage. Whatever illness you have after increasing your coverage or any rider, cannot be considered in the insurance.
Cheers
Right now, he is having financial issues as he needs to pay for a high premium monthly. But as it is an endowment policy, when it matures, it will secure him close to $500K for three policies combined.
So it is a good thing as it can be considered as retirement funds.
So I told him to try his best to persevere. It is all for the good of his future retirement needs. This is important as he is well, gay, and won't be having a "family" when he gets old and whatever he has when he is old, will be useful to care for his needs.
So, to all my readers, never belittle the need for retirement funds and hence, if you are able to afford, do go for some life insurance plans that will pay out when it matures.
Again, if you need further coverage, approach your current agent for further analysis of your needs. The premium is lower if you start young and can help you cover any illness that comes after your coverage. Whatever illness you have after increasing your coverage or any rider, cannot be considered in the insurance.
Cheers
