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Should You Sell Your Soul To The Insurance Company In The Pale Moonlight?
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Should You Sell Your Soul To The Insurance Company In The Pale Moonlight?

A lot of people that think the words ‘insurance’ and ‘devil’ are interchangeable, probably because they haven’t taken the time to even try and understand it.

It’s like thinking a cow is going to kick you, just because you remember the nasty hoof-cleaner talking about taking a few side kicks to the noggin. If you just stopped a minute to think logically. If you were the cow, you would have kicked him too, after being jabbed with the pitch fork and cursed at constantly!

The point is, there are pluses and minuses with everything in life, depending on your experiences and circumstances. For instance, if we took the time to pop our life insurance prejudices out of our head, and look at the reasoning behind life insurance, we’d be better able to determine if we need it and why.

I used to be a ‘groupie’ for term insurance. There are no inflated premiums for savings and insurance. The idea was to pay just for the insurance you would need to cover your liabilities, funeral expenses and take care of your family if you died. When you reached the point of financial independence, you get rid of it. Makes sense to me.

Whereas whole life insurance is basically insurance and savings. You pay a little more than with term, but this money will slowly accumulate into a small amount of cash value, which you can have at the end of the term, or borrow against while you have the policy. Of course it will cost you to borrow YOUR money. I never really did get that.

Funny thing is, now I can understand why whole life insurance may be the ‘right’ type of life insurance for some people. A lot depends on an individuals mindset. If someone is not very disciplined when it comes to saving, but believes wholeheartedly in life insurance, maybe whole life insurance is a good thing for them, as it forces savings.

Now the return on the savings is embarrassing, less than 3%, but at least they will have something at the end of the day.

Insurance policy’s aren’t out to rip you off! They are there for a reason, for a specific situation and just because it does not apply to you, does not mean insurance is the devil in disguise.

You have the responsibility to inform yourself on the different life insurances and to choose what works best for you. Set your fears aside and start learning, you’ll be pleasantly surprised, what you discover in the amalgamated pot of insurance, just outside of Purgatory.

June 24, 2011

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One Response to “Should You Sell Your Soul To The Insurance Company In The Pale Moonlight?”

  1. This is a great article. Very Informative. Thanks for the information.

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