Making a Life-Changing Decision: Thinking about the Future

Ivan Dimitrijevic
Ivan Dimitrijevic is a seasoned blogger and SEO consultant with years of experience. His skill sets include Social Media Marketing, Search Engine Optimization and blogging on a wide variety of topics. He is a digital marketing & business consultant and has had many articles published on serious blogs over the years on topics ranging from Digital Marketing, Tech and Online Business to Home & Family, Health & Wellness and Architecture, Real Estate & Design.
Ivan Dimitrijevic
Ivan Dimitrijevic
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Once a person reaches a certain age (let’s say, around 36-40), there is a great deal of things to be thinking about. The most important one is how your progeny will live once you are gone. Even though some might think that 40 is not the right time to be thinking about that (there are still many years on your life tab, I know), the reality is that all of that can change in a heartbeat. Fatal illnesses or injuries can leave your loved ones without anything in the world, forcing them into a very difficult situation that can prevent them from achieving their goals in life.

One of the ways to prevent this is to put your money into a life insurance policy, which will allow your progeny to enjoy most of the benefits they have enjoyed while you were still alive. However, getting insured is not all that easy. It requires a lot of thinking and you have to be sure that the policy that you are investing in is the right thing for you. Here is some advice on how to choose the right policy.

Get informed

The right choice does not lie with the first insurance agent that approaches you (as much as they would like you to believe so). Insurance selling is an industry, just like any other, and one of its main rules is competition. This means that you could get a better quote somewhere else – you just have to look for it a little. So, before making a decision, make sure to get multiple quotes from more than one source and take a look at all the options and restrictions that can influence your insurance payout.

(You can) Use a broker to get the best quotes

When you are buying a car, there is an option of going to a broker who will find the best deal that will suit your needs, and even negotiate the deal for you. The same goes with insurance policies. If you are too busy (or too lazy) to go out and do the research by yourself, you can always hire someone who is adept at those things to help you get the best insurance policy available. However, be cautious, as these services can be even

more expensive than finding the policy yourself.

Buy healthy – pay less

Life insurance premiums (what you pay each month) are calculated according to the state of your health at the time of the purchase (this is only one of the conditions, however). So, when someone who is in perfect health is being quoted for insurance, the rates will be significantly lower then being quoted once you are already seriously ill or on the verge of a chronic disease. However, you do not have to think about life insurance if you have no dependants (because it will be practically useless without someone to leave the money to).

You can completely avoid insurance salespeople now

How many times have you received a call from someone selling insurance policies? They want to arrange a meeting, tell you all about how great their company is, how great their policies are and how they will make everything work. Today, with the advancement of the Internet, you can completely avoid having any contact with these spammers. There are ways to get quotes on the Internet – quickly and efficiently. Once you have taken a look at a few quotes, you can make the decision yourself, without anyone rushing you to make a choice and telling you that their company is the best choice there is. However, be aware that these quotes may slightly differ from what an actuary might provide.

Whether or not anyone with dependants should get life insurance has only one answer: yes, you should get insured. However, choosing the right insurance policy is something that takes time and deliberation. After all, what use is an insurance policy that has lapsed? Always make sure that you get a policy with premiums that will not encumber your budget to a large extent. You have to keep paying the premiums in order for your dependants to get the payout. So, think carefully about who you give your money to, because, in the end, it is the future of your dependants that you are thinking about. 


  1. I an great follower of Steve Jobs saying” Always do only what your heats say”.
    Of course sometimes you have to face loss, pain and have to cry to putting your mind back and following just your heart yet All great people was doing the same practice.
    Mahboob Amjad recently posted…Why Social Media Marketing is the Best Outlet to advertise your businessMy Profile

  2. It is hard to make decisions sometimes, but this post is quite nice and helps in maintaining our mind set. I think this should be a part of everyone’s life “making life changing decisions”. Nice post.
    Prakash recently posted…Angry Birds Epic for PC, MAC, Angry Birds Epic Apk download for androidMy Profile

  3. Like you said, life insurance is essential for those who have dependents. But they should be careful which type of insurance they get. The best bet is too get Term-Life Insurance. Because term insurance only covers you for a particular term (20 or 30 years for example), it is way cheaper than whole life insurance or any other “investing” insurance.

    If we make the right moves with our money – pay off debts, have an emergency fund, and have a retirement account – we will not need life insurance after 20 – 30 years. You might have enough assets to cover ourselves and our kids will most likely no longer be our dependents.
    Aldo Rancier recently posted…The Friday FiveMy Profile

  4. Hello Ivan,

    You’ve got a nice, clean solution for the inevitable here. However, in the part of the world where I currently live, that would produce the opposite effect: insurance companies hardly bother owning up when the times comes.

    Here, instead, running various investments is the true mark of wisdom.

    What do you think?

    Do have a great day!

    Akaahan Terungwa recently posted…5 (+1) THINGS YOU CAN DO TODAY TO GUARANTEE A BETTER FUTUREMy Profile

  5. No doubt about it. Everything is thinking \”not me\”, but suddely something unpredictable may happen. Few years ago, I was lucky to survive from motorbike accident and at that time I was not married, but used to have 3 months old son.
    Kaloyan Banev recently posted…Truth About Make Money Through BloggingMy Profile

  6. People will start to think about insurance when they feel enough wealth at certain level. When they are not, they will only focus on what in front of them.
    Okto recently posted…3 Secrets to Provide Time for BloggingMy Profile

  7. In addition to this life insurance policy, every insurance company always add very sensitive clauses that an ordinary policy owner can not easily see or read meaning to them which make it very difficult for claim when need arises. Therefore, the best way to get any insurance policy is to make sure that one looks for very trust worthy brokers that will tell you every single jargon and all insurance clauses. Does premium paid for life insurance depends on type of diseases facing the policy owner?
    Alabi recently posted…How A Lawyer Used Benefits of Cla To Lose Fat FastMy Profile

  8. Having insyrance is important. But keeping our lives so much more important. It is better we plan for a healthy life than insurance plan. I think, insurance is the last planning in planning our lives in the future

  9. I think there are a large number of people who are purchasing the most suitable insurance policy based on their needs. However, a lot of them may not find it easy to know how much coverage they need especially if they are not experts in the insurance field or in finances.
    Worli recently posted…Love is Like a Beautiful FlowerMy Profile

  10. It is ironic that people who really need insurance, cannot afford it, while those who are wealthy have lots of coverage. The best time to start taking insurance is while one is young – the premium is much lower. And choose wisely – better ask relatives & friends for opinion before making a decision.
    Ismail N recently posted…Bucket List Ideas: Travel And Adventure TipsMy Profile

  11. What a nice post to spark up the week…
    Many people fail today, not because they don’t know what they are doing but because of lack of information.
    information is one form of change that shouldn’t be ignored…
    Thanks for the awesome post… do have an awesome week ahead.
    Babanature recently posted…10 Essential WordPress Plugins for the Absolute BeginnerMy Profile

  12. Nice post. Most of these insurance schemes are just their to trap customers. I would suggest to avoid them and live a happy, carefree life. :)
    Lalina recently posted…Gmail Login – – Gmail Sign InMy Profile

  13. Hi Ivan,
    I am still young, well good for me. So, thinking about my future. I have just passed school and I am going to be in a college for studying engineering. And after that, after years of working I will consider insurance.
    Anurag recently posted…Get Google Cached Version of Any Page!My Profile

  14. Joe Dalio says:

    Thank you for this very helpful information. Many people put this off, not because they are deliberately procrastinating, but they often don’t know what steps to take. Once they are confident they can make the right decision, I believe they are more quick to act and do the right thing.

  15. Hey Ivan,
    Very informative post and Yes, life can change in a heartbeat. Insurance is something very important these days and we just can’t ignore it. Thanks for sharing this important post with us.
    Sudipto recently posted…Best Android Phone Under 12000 In IndiaMy Profile

  16. Life decisions are often set on our priorities! This post reminded me of Maslow’s Hierarchy of Needs and how it often applies to our goals in varying degrees. Thanks for the share Ivan.
    Kathy Mathis recently posted…8 Break up alarms in RelationshipsMy Profile

  17. Ganeshkumar says:

    Quite on the contrary, 40 may be a tad bit late to go in for a insurance policy as the premium rates are bound to be higher for the same goals. Moreover, more policy take time (15,20,25 years) to give you the kind of returns that would be meaningful. If you start late, you end up 1) paying higher and 2) not giving your policy the time it needs thereby losing on both the counts. May be a start around early thirties will be much safer.

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