Why you shouldn’t joke with premium payment of long term insurance

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Chuks Udo Okonta

Many policyholders who buy long term insurance, often stop meeting their premium payment obligations before the policy matures, hence, denying them the full benefits they ought to enjoy.

When a policy is taken for 10 to 20 years, some policyholders think the period is long and stop paying mid way, only for them to walk into the maturity date with regrets for their actions.

As long as God gives life, it is important to stick to a vision no matter the number of years chosen for the execution.

A policyholder, who I talked into buying a two-year policy, just told me that the policy has matured. Looking back, it was just like yesterday she bought the policy.

While the policy was running, she was on and off in paying the premium. Today, she is happy for the investment, but regretted not paying her premium regularly.

What to know about long term insurance policy

* Duration

One fact about life is that once a date is chosen for a project, the time starts running immediately. This therefore raises the need to remain focus and never to joke with set objectives.
When governments set vision, they feel the time wouldn’t come quick, they joke with the drivers of the vision only for the time to come without any success achieved.
Keynote here is that no time is far, hence, remain committed to your policy knowing that the maturity will definitely come.

* Discipline

It takes financial discipline to meet a long term project. Most people set long term project and relax not knowing that every second is a step towards the project.

* Savings

Every premium paid for long term insurance policy is saved. Whenever you default and refused to make up for the period, that fund is lost.
Saving for the future should never be joke with.

* Maturity

No matter the time chosen, the policy will definitely come to maturity.
On maturity, two things happen. Excitement or regret.
Excitement is for those who remained faithful to the contract, while those who thought the time is far regrets.

If you don’t have a long term insurance policy, go for one today. You can choose life insurance, endowment, annuity, education amongst others.

Those who have a policy and have abandoned it, please reactivate it today, so that you can enjoy the full benefit at maturity.

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