Isn't life insurance important? 5 reasons why you should have it!

If you want to secure your future and that of your family, regardless of life's circumstances, you may need to run a life insurance simulation.

Although it is a financial protection tool, the tendency is to put off the decision—until you get a raise, until you start getting older, until you have children, and so on. There’s a whole range of reasons—some more valid than others, it’s true—but we’re going to show you why you should rethink them.

In this article, we use the adversarial principle to expose some beliefs that are not well aligned with reality.

What does it mean to have life insurance?

O life insurance It provides financial protection for your family and others who depend on you and your income to maintain a good quality of life.

The principle is simple.

Every month, you pay a small amount that covers the risk of death or disability. If something happens, The beneficiaries you have chosen and who are properly listed in the contract will receive the amount of money you would have earned, had he not been the victim of a misfortune.

Common Reasons NOT to Purchase Life Insurance

1. It's too expensive

Price is one of the main obstacles. It’s understandable to be concerned about adding yet another expense to your monthly budget.

But is life insurance really that expensive?

Verdict:

It turns out that, in many cases, people underestimate the importance of insurance and overestimate its cost.

Only by running a life insurance simulation can you be sure of the amount and make an informed decision. You might be pleasantly surprised by the monthly premium.

2. I'm too young to think about life insurance

Accidents don't discriminate based on age. In fact, it's when we're young that we tend to take more risks, precisely because we still feel invincible.

Verdict:

Accidents are the leading cause of death among young adults in Portugal. Recognizing this reality and the risks inherent in life itself, the life insurance policy offered by EXS covers death resulting from a traffic accident.

What's more, the younger you are when you include life insurance in your plans, the lower your monthly premium will be.

3. I don't have any children

Children are the number one reason to purchase life insurance.

But if you're single or live with someone but don't have any children, you don't see the need to take out a life insurance policy and tie up that money.

Verdict:

Consider the following scenarios:

• Are there parents who depend on you or who may come to rely on you and your income? Perhaps to hire home care services or cover the costs of a nursing home.
• On the other hand, the person you live with depends on your income—will they be able to maintain a decent standard of living if they lose this financial support?

These are factors you should consider when deciding whether or not to purchase life insurance.

If you do not have such coverage, you will not be able to guarantee support in the event of absence due to death or limitations resulting from a serious accident that has led to a high degree of disability.

4. I am a healthy person

You're active, eat well, and don't have any bad habits. Great—this is the best time to sign up for insurance.

Verdict:

When health is at its peak, insurance policies are more affordable.

As you get older, age-related illnesses and other conditions not related to your lifestyle may develop. At that point, it will be more difficult to purchase a policy, or you will pay more for the same coverage.

5. There are too many options, so it's hard to choose

The sheer number of offers available online can be overwhelming. On top of that, you’ll have to set aside time from your already busy schedule to review each document and compare them.

Verdict:

One of the advantages of talking and having a mediator as a partner is precisely the time saved.

At EXS, we make the process simple. We do the research and negotiate on your behalf. We also help you determine:

• The insured amount;
• The term of the contract;
• The most appropriate coverage (and exclusions);
• Among other issues.

EXS works with 26 insurance companies in Portugal. First, we’ll talk with you to understand your needs, expectations, and available budget, and then we’ll present you with only those proposals that meet the requirements.

Find out how much your life insurance costs

Take control of your life and the lives of your loved ones!

The first step is simple and free. Just request a life insurance quote on our website.

Please share some information with us and wait for us to contact you within the next 24 hours. After that, you will have personalized support from our professionals.

EXS has more than 10,000 customers and has been in the insurance market for two decades.