I’m going to bet a billion bucks- if I had any- that becoming a parent is one of the most exhilarating and exciting moments in anybody’s life. If you happen to be a parent like I am, I’m pretty sure you would give up anything and everything for your children. Not even the world’s most precious gems can compare to them.
Because of the instinct to look after the ones we love, we parents do everything in our power to make sure that our children thrive in an atmosphere of love and security. We move heaven and earth to provide for all their needs- financial, emotional and spiritual (and everything else in between).
And then we stop to think about what would and could happen to these kids if by some stroke of misfortune, they lose us- their parents whom they greatly depend on for dear life. It’s this type of worry which understandably haunts even the best of us.
If we knew that the children we leave behind will be well taken care of, our worries would slowly melt away. We’ll have peace of mind knowing that in any worst case scenario, our loved ones will be alright, and that their needs will continue to be met.
It’s good to know that there are loads of companies such as lifeinsurance.org.uk out there who seek to help us during times of uncertainty. They understand the importance of ensuring that the family unit is left financially secure after the loss of a loved one. So what are some of the many options you could do to finance your loved ones now and later?
Table of Contents
Life Insurance
No one is comfortable talking about death, but it’s a reality of life (in this system). Life insurance will make sure that the ones you left behind would still be somehow financially able. Life insurance premium could be exchanged after either the death of an insurer or such events as terminal illness.
Health Insurance
If public health insurance provided by the government is not available, securing health insurance for everyone in the family sometimes by extension too. Health insurance pays for the medical expenses in case one gets sick.
Accident Insurance
As complement to health insurance, this type of insurance is paid directly to the insured in case he or she encounters an accident that cause injury. The insured can spend the lump sum how he deems necessary.
Home Insurance
Also known as homeowner’s insurance covers a lot of things around the home. This includes theft, or loss of property, accidents at home which can be extended to damages incurred by a child outside the home. This insurance also covers financial support for disasters.
Trust Funds
If you have the means, or resources, get a legal entity or a trusted person who will transfer assets or money to your beneficiary later on.
Bank Savings
Usually a bank saving account that a payor names for a beneficiary. Many opt for a time deposit, which gains a bigger interest than usual savings. This means that the savings must reach a certain maturity before it can be withdrawn.
Finance Your Loved Ones Knowingly
There are other financial ways to invest on, like a College Funding Plan. We probably just listed the tip of the iceberg, so to speak. Whichever you choose as a way to secure your family’ future, compare and look at the pros and cons. One may be better than the other depending on your situation, what’s important is that you will be sure that your family will have less worry about money when the time comes. As it turns out, every cloud does have a silver lining.
It’s always safe to have at least one life insurance as we need to cushion our love ones in case of any unfortunate events.
being a mom is the most intimidating “career” one will ever have. but, seeing the kids., how they grow and even at their greatest stubbornness, you can’t help but cry sometimes. minsan, emoteness ako because my kids are growing very fast.
getting a life insurance is not a waste of money, imho it is a practical investment, to leave something for the children should untimely death of the parents come
Having a backup plan is always a good thing. Family should always be a part of priorities in life. Beautiful kids!
Being protected in life is something we have to take into consideration especially when we have kids. We can be rest assured that their future will be secured as well.
Beautiful photo of your pretty kids! – Tori
It’s better to be prepared for everything that comes our way. Pray also that we’re always safe.