Importance of Having a Life Insurance

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There's a saying "You don't buy insurance because you are going to DIE but because those you LOVE are going to LIVE." Nowadays, people are fond of the saying You Only Live Once and love spending time, money and effort to luxury and things they wanted instead of the things they need. Don't get me wrong, there's no problem with having fun or checking your bucket list but we need to balance the present situation versus the future.

Me as a mother, I always think about my son's future. We will never know what will happen to us *knock on the wood* so we need to be always prepared. Life insurance is one of the best investment or preparation for the future. Good thing, in our generation we have this so call life insurance beneficiary rulesThe beneficiary of your life insurance policy is the individual who will receive the benefit in the event of your death.


Naming a beneficiary eliminates any confusion that may arise when you pass, leaving no room for speculation as to where your assets were intended to go. In addition, it speeds up the process of getting you assets to your loved ones.


Your life insurance beneficiary can be a family member, a friend or business partner, or an organization or legal entity like a trust or your estate.


The beneficiary needs to do a couple of things before the insurer pays out:
  • First, your beneficiary needs to get a copy of the death certificate, which proves that the claim is legitimate.
  • Next, your beneficiary needs to dig up the policy document. This paper is something you should have saved in your records somewhere, so you should always make sure the beneficiary knows where to find it. If they can’t find it, your beneficiary will have to call up insurance companies until he or she finds the one who insured you, or have to look at your bank account to figure out where you were paying premiums. If your beneficiaries still can’t find the document, they can try these seven steps to find a lost life insurance policy.
  • Finally, your beneficiary needs to file a “request for benefits”, or claim form, with the insurer.

Today, with life insurance, upon the death of the insured, a lump sum payment or installments are paid to the beneficiaries, but you didn't always have both options. Historically, when you died, your beneficiaries would receive the entire payout of your policy all at once. And, even though lump-sum payouts remain the most popular method of life insurance benefits dispersal, life insurance policies are now more flexible and offer policyholders a few different payout options.

Of the available payout options, installment payouts as well as annuities are also popular. Depending on the extent of coverage, these installment or annuity payments can continue throughout the beneficiary’s lifetime. However, you can also select the duration of how long you’d like these installment payments to last, generally from anywhere between five and 40 years.

So let's reflect and think about the future of our children. Let's not dwell on what we can do in the present but make sure we prepare ourselves especially our love ones for their brighter future.


  1. Hi dear...just came across your blog and I find it very interesting topics you touched on especially the importance of having a life insurance. BTW I would like to know where I can get the photo of your blog logo? It's very unique. Thanks.

    1. Hi Christine :) Thanks for dropping by. Try checking this link for my logo