One of the unfortunate reasons why so many men and women are not purchasing life insurance is because of the perception that it will be one too many expense that they can ill afford after taking into account all other budgetary considerations for the next month. In part, this is also what economics academics and financial analysts have often referred to as short-termism. You could even say that this is a case of looking no further than your nose.
A good look at the insurance broker’s pool of available universal life insurance policies places the mindset in the opposite direction. It is not a case of looking the other way or placing head in the sand but a case of taking the necessary and prudent long-term view to financial products that help prepare the policy holder for his or her future. Too many people say that they have plenty of time to prepare.
But these days, how quickly twenty years fly by. Twenty years is not a long time. Too many people make the mistake of saying that it is too late for them to purchase life insurance products. They would rather wait things out and when that day comes, the state will provide for them. Says who? For now yes, the state can provide you with a pension. It could provide you with cover for your loved ones in the event of your passing.
It could also provide for you in the premature event that you are no longer able to work. But it is peanuts and nothing but breadcrumbs and water for the rest of your life in comparison to what purchased life insurance products are able to provide you. Do not do this to your loved ones.