Adriana M

Here is my essay as requested:

Young people my age don’t realize how important it is to have  life insurance. If your parents own a home, and are  a two income family, chances are if one of them  dies suddenly, and there is no life insurance,the remaining parent could lose the house. This puts the whole family in a scary situation. People should always make sure that they have a life insurance  policy, even if it is a small  one, to cover at least burial expenses. My best friend’s dad died last year, and they had no life insurance on him, and my friend had to move to another part of town in a small apartment because that’s  all her mother could afford.She was very sad, because they had to give up their dog, since the new landlord did not allow pets.

My mother says that a whole life policy is the best to have, and that I  should apply for it early in life because it gets more expensive as you get older. A whole life policy is also an investment. As long as you pay the premiums it will never expire, and your rate will never go up. You can even borrow against it if you need money in an emergency. Whole life insurance cost more than a term insurance policy, but it has more advantages. Like I said, it doesn’t lose it’s  value, and it’s an investment that you can borrow against it. A term policy expires after a certain term. For example, you may have a 10, 20 or 30 year policy. At the end of the term, the policy expires, and there would be no value to it. You eould then have to apply all over again. Also ,after the 20 years are over, you will be 20 years older, and have to pay a higher price.

My mother has  also advised me that when i finish college, and enter the work force, I should apply for a short term disability insurance  policy.  She says that a person’s  most valuable asset,  is their ability to work. She said that I should also apply for this at an early age,  because this type of insurance  policy also costs more the older you get. My family has experience with the importance of a disability policy. My father has a short term disabilty policy with Aflac, through his job . In 2007 my father passed out while making a delivery with a tractor trailer filled with lumber. He was brought to the emergency  room in an out of state hospital. It turned out that he had stomach cancer, and was bleeding internally. They did a surgery to quarterize the hole in his stomach, and then we picked him up and drove him home. My father was out of work for three months.  Aflac gets information from the physician about how long they estimate the patient will be disabled.  They send a check up front for the whole amount of the disability term.  This money, along  with short term disability payments from my father’s  employer’s  New York disability policy,  carried my family through this crises. Disabilty policies tend to be on the expensive side, but again, are definitely worth their weight in gold. In addition to his Aflac disability  policy, my father also has an Aflac cancer policy. This policy paid him for testing,a certain amount for his hospital stay, and has many other benefits. At first my father thought that it was too  expensive to pay for these  Aflac policies, when they  were first offered to him through his job. Thank goodness, he listened to my mother, and took these polices out.

Now, these days, with all of the strange and dangerous  weather that is happening around the world,  another very important insurance policy to have, is flood insurance. While your property may not be considered in a flood zone, you can see on the news, that a lot  of the areas that are getting hit with

these storms were never considered  to be in a flood zone before. A regular homeowners  insurance policy does not cover flooding. Some homeowner’s  policies will have coverage for sewer back-up or a broken  or cracked  water pipe that causes flooding in your home, but some insurance polices charge extra for this.

In closing, I  would like to say that a lot of people in this world think that some or all insurance policies are too much money. They  say that they cannot afford it. It is my belief, however,  based on my mother’s  teachings, and first hand personal family experience, I believe, that if we  cut out those high priced Starbucks coffee and other non-essential purchases, that everyone can afford to invest in these very impotant insurance policies that can only benefit everyone  and their families

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