2011 was a strange time for catastrophic events across the world, causing many deaths and a lot of destruction along the way. People should be prepared for unexpected natural events such as tornadoes and earthquakes by securing a good life insurance policy.
CoreLogic, a California-based analytics and business intelligence provider, said 2011 was the most expensive and deadliest year for hurricanes in the United States since 2008, with three storms causing $8 billion in damage. It was also the third most active year for torandos since 1980, causing 552 deaths from 1,559 storms. Storms in Alabama and Missouri caused at least $5 billion in damage.
"We've had a lot of events this year that were exceptional, such as the earthquake in Virginia and the swarm of earthquakes in Oklahoma," Dr. Howard Botts, executive vice president and director of database development for CoreLogic Spatial Solutions, told Insurance & Technology. "Every insurer we talked to is concerned with getting a handle on [tornadoes] and expanding the areas in which they charge their highest rates."
Life insurance could come in handy in these disastrous situations for people who live in dangerous areas and have children. Parents and loved ones can't be too careful when it comes to having the right financial safeguards in place to protect against life-altering natural disasters.