As much as most people know the importance of insurance and most people are taking insurance covers, there are some policies that are more common than others. This includes, health covers and travel covers among many others. People tend to under estimate the importance of life insurance while it is very important as well. Most students don’t see the importance of taking a life insurance cover while it may benefit them as well. Some of the reasons why students should consider taking a life insurance include:
Can help in clearing your debts
Most people don’t know this but a life insurance can help in paying off your debts when you leave that may be a burden to those around you especially your family. There are some debts that you may have had such as mortgage, credit cards, and loans and also funeral expenses which may be costly and put a large burden to your family.
Provide for your kids
For the case whereby you are a student but you have a family, in case you leave, you are sure that your kids will be well taken care of. The life cover can help them in their education and cover their major expenses in their lives.
Will give you peace of mind
With a life insurance cover, you can relax and have peace of mind since you will know that the financial future of your family is taken care of in case of your demise and hence they can continue with their current lifestyle.
Cover your funeral expenses
Having a life insurance cover as a student you can be sure that your funeral is well taken care of. Funerals are pricey and it may burden your family and friends trying to raise funds for your burial. A life cover will take care of that.
Supplement your retirement
It is never too early to think about retirement. The earlier you start planning the better. Good thing with life insurance is that it accrues the value of tax free money that can be borrowed. This can be used as a supplement of income just in case you need additional money or if other investments fail. You should keep in mind however that these kinds of policies are normally pricier hence you may want to consider other investment options as well.
Protect your business
If you a student and have a business, you can use life insurance to protect your business. There are many ways in which you can use life insurance to protect your business such as insuring an employee, use is as a basis of funding a buy/sell agreement, or as a security for borrowing against cash in a tax free way. There are many others in which you can use a life insurance over to protect your business. It depends with the kind of policy and the kind of company that you are dealing with. Some companies such as insurance HERO will make sure that you get the best life insurance cover that will suit your needs.
Life insurance can mean a lot for those who are left behind after a tragic death. With a life insurance lump sum, your parents will be able to cover your expensive study loans, pay for your funeral costs or perhaps pay off some of your outstanding bills. Your parents are probably doing a lot to get you through college or university. A great way to thank them for all their efforts is to give them a way out financially when you are unable to finish the studies that they are currently paying. Modern life insurance packages are affordable and even students with medical conditions can now get an efficient life insurance package.
Why unhealthy students usually dong get life insurance
Most life insurance companies do extensive medical examinations on their clients before their memberships are approved because it is the only way to ensure that the clients are healthy and won’t cause high risk problems that go hand in hand with certain conditions. If a problem is detected, the rules are usually altered in order to protect the insurance company. Genesage Life Insurance is one of the few companies who openly welcomes students with medical conditions and supply them with the best possible life insurance solutions.
Life insurance for students with medical problems
Life insurance companies have started to provide numerous different life insurance packages for individuals with medical conditions because they realize that everyone’s family deserves to be taken care of. Here are some of the most common medical conditions that still can enjoy great life coverage:
Epilepsy is quite common amongst people. The seizures caused by epilepsy can be dangerous and embarrassing to students but they can still enjoy a full life despite the nerve system disorder. Genesage Life insurance realizes that epilepsy students deserve a great life insurance package just as much as any other student. They do thorough research on your medical history to establish the severity of the condition and can then provide you with an affordable policy so you can live your life to the fullest and know that your family is also taken care of should something happen to you. You can visit www.genesage.com/epilepsy-life-insurance to find out more about the insurance policies for students with epilepsy.
Millions of people all over the world, from all age groups suffer from diabetes but with the right medications and diets, they too live full and healthy lives and can also enjoy fantastic life insurance deals at low rates.
Lots of people will try to get life insurance especially when they realize that they are dealing with a life threatening disease like cancer. Genesage offers options for critical and minor cancer cases so these patients can provide for family and friends, should the worst possible happen.
Genesage covers multiple other conditions that are both preexisting and new. They offer fantastic solutions for students with anxiety, blood pressure and many other conditions from which so many other companies would shy away from.