Most important thing to own as an Immigrant

One of the most important thing to own as an immigrant, living away from home, parents, and all that you love and care, in my opinion, is not what you might think, or even as popular as other fancy things that people normally own.

A Term life insurance

Why?

If you are an immigrant, that to a recent one in the staes, trying to build a life, chances are highly likely that you are in debt. The early you are in your American Dream, the more you maybe in bedt, wheter it is a student loan back home, personal loan, or credit card loan.

Now consider, god forbid, something were to happen to you. A terrible/fatal accident on these high speed interstates, your house getting caught on fire, getting shot/stabbed by someone in a gas station, or you own health betraying you, a heart attack!!

As you may already know, these are not just any far fetched senarios, instead these are sadly only some tragadies that are putting an end to the beautiful dreams that desis all round the U.S have and work so dilligently in realizing them.

So, what happens to that Student loan back home, that your father/mother co-signed, or your collateralled family home, or a new mortaged house, that you dream of someday living in. What gonna happen to that promise of making your family financiailly independent and secure. Who’s gonna take care of your aging parents, who don’t have any retirement plan or savings for themselves??

I know i sound like a LIC agent at this point.

But, no matter what, these questions are always relevant and pressing if you think about it honestly, without foolishly saying, “I know, nothing will happen to me.”

The solution as far as i know, is winning the lottery or, more realistically, having a term life insurance as a safety net, untill you make it big.

What is a Term Life Insurance?

Just like a car insurance which is only good for an year or so, this kind of insurance is only good for some years, say 10 or 20 years. Where you are insured for a certain amount of money, say 500k or a 1 Million. You make a small amount of premium payments every month, if nothing were to happen to you in that insured period, all is well and good, you dont get anything from the insurance company. However, say if you were to pass way in that same period, you dependents will get that insured amount. Just as simple as that!!

Generally speaking, the sooner you get an insurance, the lower the premiums are. As the older you get the more risker you are, healthwise, for companies to insure.

example: for a 26 years old person, 500k plan for 10 years, the monthly premiums could be around $35. In other words, it’s less than eating out at a fancy Indian restaurant, or even less than two Biryanis!!

It can be tricky to buy an insurance policy, because of our immigrant or non-immigrant status, not a lot of the companies covver us. But here are some companies that do cover us

• Guardian Life
• Nationwide
• Transamerica
• Lincoln Financial
• and Prudential

I’ve my policy at Guardian Life, that was the only option i knew when i was looking for a plan. check around and see which one gives you a best quote and fits your needs.

Here’s to sleeping better at night knowing your loved ones are taken care of from the unexpected.

Thanks for reading,

Your Desi Dosth