Accidents can happen while growing flowers in the garden: insurance manager reminds you of the importance of quality life insurance | Business

“Ten thousand euros might be enough for one, while another needs hundreds of thousands. Our incomes, marital status, obligations differ, and therefore the amount that would be enough for our families to maintain the same standard of living for at least a few years, in the event of an emergency, is also different. It is possible to insure for a million, but could the customer pay such premiums? I always say that you need to choose such protections that help you feel strong and safe, but the premiums must also be acceptable”, says I.Struckienė.

Different and similar stories

While working in the field of life insurance for five years, I. Struckienė came across many stories, all of which are different, but at the same time very similar.

“A client in her early forties with two young children reported the death of her husband. The two took out a home loan a few years ago. Both were young and healthy, but an accident happened. Fortunately, when taking the loan, the husband, the main breadwinner of the family, insured his life for the entire loan balance. It was a very big boost for the family, because the woman, who will have to raise children alone and whose income is much lower than her husband’s, was left with a house without a loan. In great pain, at least financial difficulties were avoided”, shares I.Struckienė.

Another story that Ieva told happened very recently. The client, who has a daughter who is a student, has been diagnosed with a critical illness, and a long and difficult treatment awaits her, which will prevent her from working for a while, and in such cases, every minute is precious.

“The client mentioned that a lot of different tests need to be done – after all, we ourselves know what queues are waiting for compensatory medical services. In addition, there is a need to support a daughter who is dependent on her mother’s income. A rather large insurance payment against critical diseases will ease the financial burden and help to live better and receive treatment”, says I.Struckienė.

The accident prompted co-workers to take out insurance

Ieva often hears that clients do not see any risks in their environment. They say they work “simple work” in a store, manufacturing plant or office, or simply grow flowers in the garden. However, according to the manager, injuries usually happen just at home.

“Many men fall off the ladder in the garden. Accidents happen both when changing a light bulb and when a boiling pot is dropped.

Here is a shop worker, whose job was to simply place goods in the hall, seemingly nothing dangerous, slipped from the ladder and injured her foot very badly. She has been unable to work for half a year and is very happy that she had injury insurance and temporary disability protection. Income has decreased due to disability, and funds are needed for rehabilitation. After learning what happened, this woman’s co-workers also came to get insurance, because they were worried that the same thing could happen to them,” says I. Struckienė.

The life insurance expert says that she notices that more and more customers understand the importance of quality life insurance and choose a complete package with additional protections and higher amounts. Customers are increasingly mentioning that someone close to them has received a life insurance claim.

“Many people take insurance, and their friends and relatives see how the benefit helps, allows them to purchase paid services and procedures. Even if clients have savings, it is much easier to use the money received from the insurance for treatment,” the interviewer notes.

It is important to talk and find solutions

I. Struckienė reminds that life insurance is important not only for working people. What will happen if there is trouble after losing her job, she asks. Therefore, even with a significant decrease in income, Ieva invites you to definitely talk to a life insurance consultant and look for ways to save the contract.

“The trouble does not come only to those who earn more. Life insurance is even more necessary for those with low incomes, when every euro is important and when there are no larger savings that can be “found” in the event of an accident,” says I. Struckienė.

When it comes to investment life insurance, she advises not to panic and stop paying if the investment value temporarily drops. This accumulation is based on periodic investment, therefore, when the market value decreases, it is especially favorable to continue to accumulate, because the same investment units are purchased cheaper, and when the market rises, the accumulated amount increases even more. It is also important to remember that while saving for retirement, you should not take out money for a new car or a trip, but the big advantage is that investment life insurance can help you in difficult life situations and become a “cash reserve”.

“And if the saver is in trouble and the income decreases, in the worst case, it is possible to reduce the amount for a while, but try to maintain the contract and later increase the contributions in order to accumulate the set amount,” she says.

And, of course, you should think about life insurance at a young age. According to Ieva, younger people also get critical illnesses, so it is wrong to think that critical illness insurance will be available at the age of forty.

“The older a person gets, the more likely they are to develop a variety of chronic conditions that will make life insurance more expensive. Because of this, it is important to conclude a long-term contract for the youngest and healthiest person possible and to have the best possible conditions throughout life”, notes I.Struckienė.