Why Life Insurance is Essential: Insights from English Literature

Introduction

Like the other world literatures, English literature too encompasses an education to life.  Insurance notably Life insurance is such a subject of interest. life insurance , as you all know, is a critical financial tool that provides financial security and peace of mind to families and loved ones in the event of an unexpected death. English literature provides numerous examples of the importance of life insurance, and how it impacts the lives of individuals and their families. We can't even deny the fact that life insurance is a topic of great importance in today's world. While the concept of life insurance may seem relatively modern, the idea of protecting one's family and loved ones has been present in English literature for centuries. 

There are many works of English literature that offer insight into the complex emotions, motivations, and consequences that surround the topic of life insurance, and demonstrate how it can be intertwined with broader themes of mortality, wealth, and human relationships. These works of literature also demonstrate the various ways in which life insurance can impact and shape the lives of individuals and their families. Here we will catalogue a few of the works and validate the relevance of Life insurance.

Human Tragedies and Importance of Life Insurance  

Life insurance is vital because it provides financial protection to the family and dependents of the insured person in the event of their untimely death. If the primary breadwinner of a family passes away unexpectedly, it can provide a lump sum payment to help cover expenses such as funeral costs, outstanding debts, and ongoing living expenses. It can also be used to cover other expenses, such as college education for children or to provide an inheritance for loved ones. Additionally, some types of life insurance, such as permanent life insurance, can accumulate cash value over time that can be borrowed against or used as a source of retirement income.

It's difficult to estimate how many tragedies could have been avoided with life insurance, as the circumstances of each individual case are unique. However, it's clear that life insurance can provide peace of mind and financial security for those left behind in the event of an unexpected death. By having life insurance, families can focus on grieving and healing without the added stress of financial uncertainty.

Correlation between Life Insurance and Literature
"Death of a Salesman" by Arthur Miller

 "A man can’t go out the way he came in, Ben, a man has got to add up to something. You can’t, you can’t—Ben moves toward him as though to interrupt. You gotta consider now. Don’t answer so quick. Remember, it’s a guaranteed twenty-thousand-dollar proposition. Now look, Ben, I want you to go through the ins and outs of this thing with me. I’ve got nobody to talk to, Ben, and the woman has suffered, you hear me?"

Arthur Miller's "Death of a Salesman" comes to our mind first. It touches on the themes of wealth, greed, and social status that often intersect with insurance and financial planning. The characters in the novel are motivated by the desire for money and security, and their actions reflect the societal pressures and expectations of the time. The play explores the life of a salesman named Willy Loman who struggles with the realities of the American Dream and his own feelings of inadequacy. In one scene, he discusses the importance of life insurance with his wife, Linda, and expresses his fears of leaving her with nothing if he were to die. Ultimately, Willy ends up committing suicide after deciding that he is not living up to his dreams. He believed the insurance money would help his son, Biff, begin a successful career; however, the insurance money never materialized because the death was a suicide.

"The Stranger" by Albert Camus

This novel tells the story of Meursault, a man who kills an Arab on a beach in Algeria and is put on trial for his crime. The novel explores themes of existentialism and absurdity, but also touches on the practicalities of life insurance when Meursault's mother dies and he receives a significant payout from her policy.

"The Verger '' by Somerset Maugham

 The story is not a buy Insurance policy but how to insure the future by determinations.  This short story follows the life of a man named Albert Edward Foreman who is fired from his job as a verger (caretaker) of a church because he cannot read or write. He, who has little book-learning but plenty of worldly wisdom obtained through intelligent observation of the real world, decides to start his own business selling tobacco and sweets which becomes very successful. The story is a commentary on the power of determination and the possibilities that open up with education and opportunity, and this is how life is insured.

Charles Dickens' "David Copperfield"

In Charles Dickens' classic novel, "David Copperfield", the character Mr. Micawber is in a constant state of financial turmoil, and is unable to provide for his family. However, when he receives a life insurance payout following his wife's death, he is able to turn his life around and provide for his children.

Jane Austen's "Sense and Sensibility"

In Jane Austen's "Sense and Sensibility", the character John Dashwood inherits a large estate from his father, but is unwilling to provide financial support for his stepmother and half-sisters. However, when he is reminded of his responsibility to provide for his family through the use of life insurance, he agrees to make arrangements for their financial security.

 Conclusion

English literature provides several examples that illustrate the importance of life insurance and how it impacts the lives of individuals and their families. These examples demonstrate that life insurance can provide financial security, protect assets, and ensure that loved ones are provided for in the event of an unexpected death. So, life insurance has been explored in English literature as a means to provide financial security for loved ones after one's passing. It has been used as a plot device to generate conflict and tension, and to explore the theme of mortality. From the tragedy of Charles Dickens' "Great Expectations" to the modern-day perspectives of Ian McEwan's "Saturday," it has remained a relevant subject in English literature. By having life insurance, individuals can prepare for the unexpected and have the peace of mind that comes with knowing that their loved ones will be taken care of.

Ardhendu De

Reference

1. Full text of “Death of a salesman.” (n.d.). Full Text of “Death of a Salesman.” https://archive.org/stream/deathofsalesmans00mill/deathofsalesmans00mill_djvu.txt

2. Mundheim, R. H. (1975, October). A Comment on the Social Responsibilities of Life Insurance Companies as Investors. Virginia Law Review, 61(6), 1247. https://doi.org/10.2307/1072256