Life Insurance

Life Insurance

We often avoid the idea of bringing up life insurance thinking we don’t need it. But a sudden accident or a mishap brings up to the realization that Life could end anytime for us without providing any warning. Now, our dependents besides being in grief struck now face a sea of liabilities like mortgage payments, loans, and Child expenses. The flow of income is discontinued and there is no alternate source.

We never imagine such worse case scenarios for us. The “I don’t need life insurance” mindset must be shed as adversities can strike us anytime and at any age without any discrimination. Financial security and protection are what an individual longs for and life insurance is a perfect answer to that.

It goes without saying that life insurance is an absolute necessity. It is a great way to minimize risk and protect your loved ones. After all it is your life that supports a considerable number of people. Hence, realize the significance of life insurance and compulsorily sign yourself up for it.

Benefits of having Life Insurance.

Life Risk Coverage

Life insurance provides you with a high life risk cover that keeps you and your family protected in the case of an unfortunate event.

Death Benefit

Investing in life insurance gives you and your family a secure future. In the event of death, the insurer pays up the entire amount i.e. the sum assured to your family. Life insurance also safeguards the interest of people who have diminishing incomes with advancing age, people who meet with accidents or for retired people. There are numerous policies available and you can choose the policy that will best suit your requirements.

Return on Investment.

Life insurance can also provide investment opportunities. Many of the life insurance investment strategies that have a return on investments that no other investment strategies can offer. The money invested in life insurance is safe and covers risk. The money invested will fetch returns and will be paid fully as sum assured either after the completion of the term or after the death of the insured

.

Loan Options

Life insurance provides you the advantage of taking a policy loan in case you are in desperate need of money. The loan amount that can be taken in a percentage of the cash value or sum assured under policy depending on the policy provisions.

Life Planning

Life insurance aids you in life planning where you can plan your life’s financial goals when it is more convenient. Life insurance not only provides for financial support in the event pf untimely death but also acts as a long-term investment. You can meet your goals, be it your children’s education, their marriage, building your dream home or planning a relaxed retired life, according to your risk appetite.

Assured Income

With an Assured Income policy, your family stays secured due to the assured income they receive on regular intervals. This income helps compensate for the income that discontinues after the loss of the earning member and helps in paying for loans, and other expenses like house rent, telephone and electricity bills, Child education etc.

Riders

Riders are the additional benefits that can be purchased and added to a basic insurance policy. These options allow you to increase your coverage. Riders cover risk that are beyond the scope of the main life policy, resulting in a more comprehensive protection. The riders may cover critical illness, personal accident, family income benefit and waiver of premium benefit. This additional cover steps in during situations where the main life insurance policy may not come into play.