What A Life Insurance Means For Your Family

Above a person’s physiological needs – food, water, clothing, and shelter – lies the need for security according to Maslow’s hierarchy of needs (see reference). Although most people would understand this as physical and emotional security, to keep yourself away from harm’s way and to have people care for you when you do come across it, financial security is also a fundamental part of this category.

Being financially secured, ensures a brighter future for you and your family. You’re not just making enough to fend for your family’s daily needs; you have more than enough for the future that awaits you – be it good or bad. And to achieve this level of financial freedom, and completely free your family of anxieties and worries for the future, what you need is life insurance.

Why Life Insurance?

Rather than just saving up money on the bank that by the way, has a much slower interest growth rate per annum, investing in a life insurance is way more worth your money. Here’s why:


  • Life Insurances Are Packaged With Benefits


When most people hear the word “life insurance” they instantly think that it’s only for people who already have money to spare. However, the way I see it, those in the working or average class should prioritize life insurances more. People who can afford to get sick, lose a job, or suffer a natural disaster actually have less need for life insurances.

Am I saying they deserve it less? NO. Everyone deserves to get a life insurance. All I’m saying is that if people who have the money still seek to make themselves financially secured, how much more is life insurance really worth for those with average to low incomes?

Life insurances in Perth, for example, are packaged in a way that they’ll hold most relevance and purpose for the policy owner. The insurance company will consult you about your family’s way of life in order to assess what types of inclusions would benefit you most.

If you love to travel, consider getting a travel insurance package bundled in. If one of your children is sickly, get a health insurance packaged with your policy. Each family is unique. Life insurance agencies recognize this so they also try their best to make the most “unique” things possible.


  • Life Insurances Offer Support In Times Of Grave Need


Losing a loved one is hard enough as it is. On top of being emotionally and mentally tired, the bills keep piling up to add more to your troubles. If you’re income is that of an average salary guy, hospital bills as well as funeral bills will leave you financially incapacitated. This is doubly true when you’re already at the point of your life that you are raising your own family, paying for the education of your own children.

To better prepare for worse case scenarios, equipping your household with a life insurance is the best way to achieve financial security. Although we’re not really asking for it, unfavorable things happen – it’s like a package that’s bundled with the joys of living. We definitely cannot prevent unfortunate things from happening, but we can at least prepare for it. This way, we can lessen the damage and avoid consequential disasters.


  • Life Insurances Give Your Children The Security They Need


More than ourselves, our children’s futures takes utmost priority. Children, especially when young, cannot afford to raise themselves. They need parents not only to teach and guide through life, but also to take care of their needs.

As parents we would want the best for our children. And as much as we can, we want to be there for them as they overcome every milestone life has in store for them. However, it is the reality of life that makes child-rearing all the more challenging and unpredictable. We don’t know for sure how much time we have with our children. We do not know what the future holds. So the best we can do is to prepare them and prepare for them.

Getting a life insurance helps secure the future of your children – your beneficiaries – the most. When you have it, you feel like life can try all its tricks on you and still come out victorious. After all, your most prized (yet sometimes annoying) little treasures are insured.

David Jackson

David is a personal finance expert, a professional male model, and an entertainment writer.