4 Important Life Events Where Insurance Planning is a Must

As a little kid, you had always dreamt of becoming an adult as soon as possible. You thought that being an adult meant being able to do anything you wanted – eating ice cream for breakfast, staying up late, and playing games all day long.

The truth is that you really didn’t know what you were wishing for.

Later on in life, you learn that being an adult means you have to actually take full responsibility of your life.

As an adult, you have to step up, prepare for the future, protect your life, and get insured. Especially during important life events, you need to make sure that you have taken every necessary action to make every life experience worthwhile.

One of the actions you need to take is getting yourself insured. In fact, this is an integral part of planning for your future. As a guide, here are 4 important life events where having a insurance is key.

Tying the knot

Unfortunately most couples tend to delay applying for a life insurance until they begin to have children, and decide to buy a property or a home. However, financial advisors recommend that newly-wed couples explore and find an appropriate life insurance for themselves and for the family they wish to build.


Furthermore, experts say that financial planning should always start with getting a life insurance. This is because tying the knot does not only mean the union of souls but also the union of financial obligations. Marriage is the perfect time to get a life insurance, since it is usually more affordable the sooner you start. Also, if you decide to start early, you will have more time to earn more cash value if it is part of the permanent policy.

Having kids

It is indeed another major financial commitment to plan to have kids after marriage. That is why this is another phase in your life where you need to be financially prepared. Having a life insurance enables you to ensure your kids’ future if ever something bad happens to you or your spouse.

During this time, when your family is getting bigger, it is important to have a proper insurance to make sure that you are prepared for whatever liabilities your child may have in the future. This especially applies to your children’s education and medical expenses.

Buying your own house or car

If you are planning to buy a house or a car, but you haven’t taken into consideration getting a life insurance yet, you better think twice. Buying a house or a car means acquiring a major liability. This is why you have to ensure that you have an insurance to at least offset your expenses.

Without this, you and your family might risk losing these properties if major crises arise in the future. There are lots of plans and insurance products that can cater to your specific needs. Do your research and talk to financial advisors to get the best deal for you and your property.

Opening an enterprise


Another life event when you need to be insured is when you plan to start a business. Financial experts associate this life event to debt issues that most people take for granted, since their last resort is usually to just add another expense in life insurance policies. Unfortunately, this may not be valid in times of an unexpected death, especially if you have dependents.

Having a life insurance policy in place before putting up a business would come in handy if a business owner passes away prematurely. In this way, you could make sure that your business would still have enough immediate assets to operate.

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