Advertorial - Misconceptions about life insurance |22 October 2021
The Covid-19 pandemic has made it clear that life can change in an instant and when that happens, we need something to fall back on. Investing in a life insurance is the best protection for yourself and your loved ones, because death and disability can happen at any time.
There are many misconceptions out there about life insurance and knowing the facts can help you make an informed decision. Below are some of the most popular misconceptions.
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- Life insurance premium is expensive
The younger you are the cheaper your premium will be, because the premium is based on your age and sum insured. For example, the premium for a young person can be about the same price as a cocktail. It鈥檚 best to invest in a life insurance when you are young and reap the benefits later on in your adult years.
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- Life insurance is not a priority
Life insurance should be a priority for people with dependents, be they children, spouse and/or elderly parents. The benefits include paying off a mortgage, pay for a funeral, serve as an inheritance for loved ones or fund a child鈥檚 education. Have you ever considered what would happen to your loved ones if you pass away? A life insurance could help ease their financial burdens for a while, as they adjust to life after your passing.
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- I can get a life insurance later
Life is so fast these days and before you know it 鈥渓ater鈥� is too late. It鈥檚 better to secure a good premium when you are young and healthy. Keep in mind that age and health can make it tough to get the coverage you want later on. As you get older you may develop a condition that prevents you from getting insurance cover or you鈥檒l end up paying a higher premium because of your age. The sooner you get life insurance, the cheaper your insurance rates will be.
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- I am too young to get a life insurance
No one鈥檚 too young for life insurance. In fact, the younger and healthier you are, the easier it is to get covered at a great premium. At HSI Life, you can buy a policy at 18 years old and get on with enjoying your life.
TYPES OF LIFE INSURANCE POLICIES AT HSI
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Our life insurance comprises individual life policies, mortgage protection products and group life. Individual life insurance are great investment or savings plans which pay a bonus at the end of the term. And HSI Life currently pays the best bonus rate in the market.
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myLife Plans
-听听听听听听听听听听 myLife Security (15 years)
-听听听听听听听听听听 myLife Cover (20 years)
-听听听听听听听听听听 myLife Benefits (20 years)
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myLegacy Plans
-听听听听听听听听听听 myEndowment Plan (flexible term)
-听听听听听听听听听听 myRetirement Plan (flexible term)
-听听听听听听听听听听 myOffsprings Plan (flexible term)
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Junior Education(mature when a child is 18 or 21 yrs old)
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Mortgage Protection/ Credit Life
Our Mortgage Protection and Credit Life products provide you with peace of mind when you鈥檝e taken a loan to buy a car, build a house or for any personal project.
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Group Life
Our group life policy is for companies that would like to offer additional protection and benefits to their employees.
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Contact us on 4304480 or 4280400 for a free life insurance quotation and we鈥檒l guide you on the best plan for your budget.
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Contributed