Insurance

Another Great Reason to Purchase Life Insurance: ZOMBIE APOCALYPSE!

In today’s society, people know more about what they should do in the event of a zombie apocalypse than they know about what they should do when they go to the voting booth on Election Day. With shows like The Walking Dead and movies like World War Z, Zombieland, and 28 Days Later popping up left and right, it’s really not much of surprise, though.

zombie apocalypseAre You Really Ready?

Besides having your basement stockpiled with canned goods and crossbows, just how prepared are you, though? There’s definitely an argument to be made for life insurance, especially in the case of a World War Z scenario, where the civilized world doesn’t necessarily crumble and loved ones could still file claims in the unfortunate event that you should start craving brains.

Why You Should Buy Now—and Not Have Your Insurance Eaten By Zombies

Think life insurance premiums are expensive now?  Think of how much they would skyrocket should you try to acquire a policy after the zombie hoards start devouring the population hand over fist!

Of course, there’s always the possibility that all of the insurance companies might turn into zombies themselves, and there would be no one to pay out the claims, but it’s always a good idea to be prepared. There might very well be one insurance guy left, with a computer, and a bank account, ready to pay claims. That’s dedication!

In order for your family to file a claim with the new King of Life Insurance, though, you need to purchase a policy and guess what… no current life insurance policies have any clauses or exclusions regarding a possible zombie apocalypse! Score!

Best Insurance Buy for the Zombie Apocalypse

Typically, term life policies are generally recommended by life insurance specialists, but in the zombie apocalypse scenario, something could maybe be said for whole term policies (you can find out more about these life insurance policies at Suncorp):

  • Term Life—When you purchase a term life policy, you’re designating protection for a selected amount of years; most-commonly it’s thirty. During that period of time you experience no rate changes, hidden fees, commissions, forfeiture expenses, and the only benefit received are the death benefits your family claims.These policies are recommended, because they don’t change in cost and, once the time period is up, you’re able to reevaluate your assets and remove items insured under the policy that no longer need to be covered. A significant amount will change over 30 years, so having to ability to essentially refinance your policy provides a significant advantage; after all, you don’t ever want to paying for more than you actually need.
  • Whole Term—With these policies, rates can fluctuate, there can be fees that will pop up (hefty fees should you decide you want to cancel your policy for any reason), and commissions can play a role. However, the benefits are:
    • Tax-Free Cash: Whole term policies are an investment; this means that tax-free cash can be accumulated over the course of the policy’s life.
    • Life-Long Coverage: You’ll never have to re-up; these policies are permanent protection, but, as mentioned, if you should ever want to cancel the policy (perhaps to move to another insurer) it’s going to cost you.

In the scenario of a zombie apocalypse, the argument that is pro-whole term mainly exists due to the fact that there isn’t a one of us that knows what an insurance company will do once it strikes. If your 30-year term policy expires and the apocalypse is still going strong, what will the new rates be like? They’ll probably be very expensive and policies might be hard to come by.

However, if you’ve basically grandfathered your way in through whole term, you might not mind the permanent nature of the policy, or a few extra fees, so much once the zombies descend! Plus, you’ll stocking up that tax-free cash for when the plague finally dissipates—something to think about!

Image courtesy of Digital Trends

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44 Comments

  1. July 9, 2013 at 7:13 am — Reply

    I’ve never understood the whole zombie craze. Some people are so nuts about it! Liked how it was connected to life insurance in this post, very clever.

    • July 9, 2013 at 3:31 pm — Reply

      Ditto here, DC, on both accounts. :-)

      • Jake @ Common Cents Wealth
        July 9, 2013 at 3:38 pm — Reply

        I agree with both of you. Never been too fond of or understood the whole zombie craze. Although, I don’t mind reading about it if it’s connected to personal finance.

        • Grayson
          July 15, 2013 at 9:18 pm — Reply

          Glad it could be swung back around to personal finance.

      • Grayson
        July 15, 2013 at 9:18 pm — Reply

        Thanks Laurie!

    • Grayson
      July 15, 2013 at 9:17 pm — Reply

      I can say that I don’t get the zombie craze, but I do love the show Walking Dead. Just awesome!

  2. July 9, 2013 at 8:11 am — Reply

    “Think life insurance premiums are expensive now? Think of how much they would skyrocket should you try to acquire a policy after the zombie hoards start devouring the population hand over fist!” Lol! Like DC, I do not understand the zombie craze, but I guess whatever works to make you buy life insurance at the right age works in my book. 😉

    • Grayson
      July 15, 2013 at 9:19 pm — Reply

      Haha, I love me some Walking Dead, but I am not crazy about it. I enjoyed this one, just as much as you.

  3. July 9, 2013 at 8:50 am — Reply

    Life insurance is a great call, zombie apocalypse or not. But stick with term. Whole life is a poor investment and you will almost definitely regret the high costs.

    • Grayson
      July 15, 2013 at 9:20 pm — Reply

      Thanks for the advice Matt!

  4. July 9, 2013 at 9:17 am — Reply

    Hmm. I think that if there was such an event, my dependents would have their brains eaten too. :) But in the case that they don’t, life insurance would come in handy.

    • Grayson
      July 15, 2013 at 9:21 pm — Reply

      Well, that is the thing, not everyone will have their brains eaten. Only the strong survive!

  5. July 9, 2013 at 11:51 am — Reply

    What a witty comparison! (Walking Dead fan here:) )

    • Grayson
      July 15, 2013 at 9:21 pm — Reply

      Another fan here Jules!

  6. July 9, 2013 at 1:07 pm — Reply

    The zombie apocalypse is my only hope for escaping my student loan debt. I was really disappointed back in December when it didn’t happen! 😉

    • Grayson
      July 15, 2013 at 9:22 pm — Reply

      Sorry to hear that this is your only way out. Let’s hope you can dig out without having your brains eaten.

  7. July 9, 2013 at 7:59 pm — Reply

    This post reminded me of that extreme preppers show. Glad I have 72 guns and 50 years worth of dehydrated food in my basement (oh yeah I don’t a basement, crap). I guess I better look into more life insurance.

    • Grayson
      July 15, 2013 at 9:23 pm — Reply

      Haha, the extreme preppers make me laugh. I am a gun owner, but don’t have many nor do I have enough ammunition to start a small war against the zombies.

  8. July 9, 2013 at 9:16 pm — Reply

    This house is so not zombie-proof, I guess I shouldn’t even bother. 9 ground level windows and three doors? Yeah, I’m getting eaten.

    I actually just finished reading a book that was a refreshing take on zombies because it took it back to their voodoo roots.

    • Grayson
      July 15, 2013 at 9:24 pm — Reply

      You just need some wood for the windows and the doors. You can protect yourself Edward 😉

  9. July 10, 2013 at 7:47 am — Reply

    Ha! I like the idea of getting life insurance, zombies or not. We really need to get some more on both of us.

    • Grayson
      July 15, 2013 at 9:24 pm — Reply

      I need to get more for myself as well.

  10. July 10, 2013 at 8:30 am — Reply

    I’ve never heard the term whole-term. Maybe this is Australia specific insurance terminology?

    Fun guest post.

    • Grayson
      July 15, 2013 at 9:25 pm — Reply

      I think that might be a typo, but not sure.

  11. Chris Holdheide (@StumbleForward)
    July 10, 2013 at 12:39 pm — Reply

    I recently switched from a cash value policy to term mainly for the fact that it cost less and allowed me to get more coverage. The thing I like about my term policy is that I can convert it to a paid up policy after 30 years if I want to. I also have a return of premium rider attached to mine as well so I can get the majority of what I paid in to it after 30 years.

    • Grayson
      July 15, 2013 at 9:25 pm — Reply

      I read your post about that Chris. Nice work on switching.

  12. July 10, 2013 at 2:59 pm — Reply

    If we are to believe TV and movies, a zombie apocalypse is just around the corner. And boy, am I glad I have life insurance! :) Fun post, Grayson. Life insurance is important even if that zombie apocalypse never materializes!

    • Grayson
      July 15, 2013 at 9:26 pm — Reply

      So true Shannon. I might need to get prepared.

  13. July 10, 2013 at 9:25 pm — Reply

    Haha and here I was worrying about an accidental death. 😉

    • Grayson
      July 15, 2013 at 9:26 pm — Reply

      There is no accidental death with zombies!

  14. July 10, 2013 at 11:36 pm — Reply

    This is a fun – and educational – post! Nicely done, buddy. These are solid tips on buying life insurance as well. Cheers!

    • Grayson
      July 15, 2013 at 9:28 pm — Reply

      I am glad you were able to enjoy the post Lindsey.

  15. thepotatohead
    July 10, 2013 at 11:03 pm — Reply

    I’m more of the opinion that when the zombie hordes come it will be the demise of all our society, so the best insurance would be a rifle and plenty of ammo :p I just really really hope they are slow zombies and not the fast 28 days later zombies. Slow we got a chance, fast not even the insurance companies can dodge that claim.

    • Grayson
      July 15, 2013 at 9:27 pm — Reply

      Haha, nice one potato head! I hope they are not fast either.

  16. July 11, 2013 at 12:45 am — Reply

    I fully endorse preparations in the event of the zombie apocalypse. I only have life insurance through work, but I would like to think that my awesome (video game) zombie shooting skillz will ultimately save me.

    • Grayson
      July 15, 2013 at 9:28 pm — Reply

      I am with you there. My Xbox thumbs are pretty nimble.

  17. July 11, 2013 at 11:02 am — Reply

    Haha I don’t think insurance companies would still cover people during a zombie apocalypse, or even that money will have any value when it all goes down. Better invest in cattle :)

    • Grayson
      July 15, 2013 at 9:29 pm — Reply

      Zombies like to eat cattle, so that wouldn’t be a good investment either. Maybe invest in a seed business?

  18. August 8, 2013 at 2:47 pm — Reply

    If there was an apocalypse…who would pay the claims? O_0

    • Grayson
      August 8, 2013 at 2:51 pm — Reply

      The zombie overlords, of course!

  19. May 19, 2014 at 6:52 pm — Reply

    I think the more interesting question is whether or not life insurance would even pay out if you were to become a Zombie. Would someone who turns into a zombie officially be classified as dead? Would a death certificate be issued? If not, the company wouldn’t pay out, right?

  20. Kate
    June 12, 2014 at 11:54 am — Reply

    Ahha, I think, That in case real zombie outbreak, nobody will need insurance =)

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