Why You Need Life Insurance

MAKE PLANS FOR THEM

 
 Deciding whether you need life insurance can sometimes be a complicated process. this decision can even be harder when you consider yourself still very young. But it all boils down to making a well-informed decision. why then should you invest in life insurance?

1. Providing For Your Dependent If You Die.
No one wakes up and wish you to die. But life is full of so many uncertainties. you may want your dependents- children to attend college and your family to enjoy certain benefits and lifestyle when you are no longer in the picture. They may not be able to afford such benefits and life-style when you are no longer with them. planning is everything. your savings alone may not be able to cover their expenses, you can very address this concerns by buying enough life insurance.

2.You Have an Option
You have the option of buying a term life insurance policy, which could cover you for certain period of years ranging from 10 - 30 years. These policies pay a benefit only during the term period covered by the insurance. These can be a good option, if you want a coverage just till your children educational pursuits are over. They are other options of buying a whole life policy, popularly known as permanent life insurance.

3. Insurance Can Also Be  a Good Investment.
Many young Professional are looking for other source of investment for savings. The life insurance policy can provide a good addition to their investment portfolio as it allows investment in stocks, mutual funds and bonds. With these investments, your cash value can quickly increase of time.

4.You Can Sell Your Policy.
If you Suddenly become terminally ill and are in need of cash to cover medical and other related expenses, you may have the option to sell your policy at a discounted price.

5. You Can Accumulate Cash.
With Insurance, you have the possibility of allocating a portion of your premiums to a cash accumulation vehicle. This accumulated amount can serve as a cash reserve to pay insurance premiums if your disposable income is no longer sufficient to pay those premiums.

6. Financial Requirements.
The amount of insurance you need depends on what you want it to cover. take into consideration your current earning capacity, and how many years your family will replace that income if you should die prematurely versus how much you have already saved.

It will also interest you to know that life insurance is not for everyone. But you should not dismiss it without doing your research. Especially if you have loved ones who depend on you financially, it is very likely that you might be needing it. Your financial advisor can help you decide what type of policy is best for you.

The Power of Vision'

CBN.com – The Hon. Cynthia A. Pratt, Deputy Prime Minister and Minister of National Security, says, “Whenever I talk about the Bahamas and its beauty, I could never stop talking about my God, who has given us all of this beauty.” The Bahamas is the No. 1 tourist destination in the world but few realize that this chain of islands is also a Christian nation that honors God in its ideals and its constitution. At the spiritual heart of the Bahamas is the international ministry of Myles Munroe, a best-selling author, speaker, and president of Bahamas Faith Ministries International. CBN sat down with him recently to talk about his book The Principles and Power of Vision. “I think that the greatest gift God ever gave man is not the gift of sight but the gift of vision,” Dr. Munroe says. “Sight is a function of the eyes, but vision is a function of the heart. When a person doesn’t have a vision, they live by their eyes. That means we live by what we see. That’s one of the reasons why people are so depressed, and that’s why the future never becomes a reality. “Vision is a source of hope; it’s the source of courage; it’s the source of perseverance in the midst of difficulty.” This book is his life's work -- a 40-year journey that has taught Dr. Munroe some of the most important principles of life. “The most important thing that I ever discovered was the power of a seed,” he says. “I believe that in every seed there’s a forest. If you have an apple seed, in that apple seed is an apple tree. There’s also apples on that apple tree. So in that one seed you really have a forest. “How do you get a forest out of a seed is the question you ask. ‘How do I get my vision out of my life?’ The first thing you need to do is to deal with the environment. You take the seed, and you put it in the right environment. “No matter how old a person is -- they may feel 60, 70, 80 years old. The good news today is if you can get back in the right environment, your dream can still come to pass. It’s not what you’re carrying that’s important. It’s the environment it’s in. I believe that’s why the Bible says, ‘In the presence of the Lord there’s fullness of joy.’ “What you believe in creates your environment in your life and in your heart. It also creates how you see things. Vision really is God exposing the true environment of your life to you in the midst of your present environment. In other words, you see your real self. “You cannot guide a ship that’s parked. So you find in the book of Proverbs, chapter 16, a very interesting statement made by God. It says, ‘The heart of man makes his plans, and the Lord directs the steps of the plan.’ We’re basically saying, ‘I’m waiting on God.’ God would say, ‘I’m really waiting on you. Why don’t you tell Me what you want to do with your life? Show Me what’s in your heart.’ “People think that their dream is outside of them. So they go looking for prophets – wanting somebody to prophesy to them, going to some crusade, some meeting, some religious leader. You’ll never find it that way. God hid your future in a place where He knew you couldn’t miss it. He hid it within you. “So what do you desire to do? What do you really want to do as a person? You need to stop and document that; write it down; make a plan; and then God says, ‘I’ll direct your steps.’ “If what you saw in your vision is not what you see now, then what you see is always temporary. So you enjoy what you’re doing now with all your heart because it’s preparation for the next phase. “The Power of Vision was written to help everyone be able to: first, believe that they carry a vision; second, that it can come to pass; and three, to give them the tools and the principles by which they can bring it to pass. Then finally the book deals with practical things that you can start with right now. ‘Cause some people say, ‘I’ve got a big dream, but where do I start? I’m broke, I have no resources, no people, no contacts.’ I say, ‘Look, you’ve got the greatest asset in the world to begin with. You’ve got your own mind and your own self. You are your best raw material.’ “When you connect that self to Him then you connect yourself to unlimited resources. When you believe in your dream and your vision, then it begins to attract its own resources. No one was born to be a failure.” culled from cbnorg