What Is Life Insurance?

Life insurance is a means of protecting an individual and his or her family from the financial point of view. As means of protection of the individual, life insurance creates a supplementary income for a certain moment in life through assuring a capital or a sort of retreat benefit.

Life insurance is the financial resource of an individual’s family during the happiest moments of his or her life but during unhappy moments as well, like decease or invalidity. Moreover, life insurance comes to support an individual when he or she, after an accident, needs financial support.

As means of protection for the family, life insurance brings a compensating income under the conditions of losing that person who was responsible with bringing money to the house, maintaining normal living conditions to his or her beloved persons in the family.

Besides, life insurance, through its possibility of being transferred, liquidates financial debts like bank credits, avoiding family ulterior debts.

Apart from protection, life insurance is a way of saving money for a long time, with protection against inflation.
Who needs life insurance?
Life insurance is beneficial for any person who thinks that at the age of retreat can get more money than a usual retreat benefit. Or you may save or use money received as insurance premium, which is a serious sum at the end of the period covered. Or, in the case of an accident or decease for any reason, you need life insurance in order not to leave your children in a difficult financial situation. Or you may think of your husband or wife who survived your decease, or to the rest of your family, or of course of your children. How will they live? How will they get on with every day expenses? What will happen if an accident will lead to invalidity and it will be impossible to live decently in normal conditions offered by the actual social assistance system?
Your capacity to get an income can be considered your most important capital, because through it you can fulfill your dreams and wishes, you can offer your family comfort, safety and peace. Unfortunately this capacity to get income, your health and your work force are not guaranteed. If an unhappy event will lead to your incapacity to work, invalidity or even decease, the income need will continue for all those who depend on you from the financial point of view. Consequently the necessity of getting life insurance is absolutely essential.