Life Insurance Policy- A Life Saver!
Now you must be thinking that how a life insurance policy can be a life saver when the money is received after death? However, for a man or woman who is the bread winner of a family, he/she is always worried about the life-long security of his/her dependents. And life insurance is just the plan which helps to meet crucial financial requirements like children education, marriage, etc after the bread winner dies. Hence, it ensures that your dreams like sending your children to top institutions remains intact even if you’re not there. This is just one facet. It also secures your dependents against huge debt-ridden situations like paying mortgage, marriage, etc.
Further, you will discover the prominent features of life insurance policies in India.
Get long-term benefits
You can choose a fixed tenure contract and get life insurance for a fixed premium amount for a required period.
In case of the death of the policyholder within the policy tenure, her beneficiaries will get the sum assured value of amount.
Life-insurance- A tool ensuring your family’s financial security
Getting life insurance at an earlier stage is a sensible decision. The benefit is that you ensure your family’s overall financial security well ahead of time as well as plan for a safe and secured future of your children. You can buy life insurance products from several esteemed insurance companies of India.
Secures essential obligations
Essential obligations include crucial financial requirement like home loans, education as well as medical loan. It is important as each of them comprises of high fee. Therefore, a sudden death of the main wealth provider can leave the family members in inferior situation due to not being able to bear the brunt of such high expenses. However, possession of life insurance policy will help the family deal efficiently with such fixed costs.
Why get life insurance early?
This is a common question asked. The reason is simple. When you’re young you are more likely to be healthier than at a later stage. Hence, you get the advantage of smaller premium payments. Also not to mention it will provide a great help when any diagnosis gives rise to potential health impairment thus preventing the disease at the earliest.
Your family’s financial security remains intact
For a provider, the security of his dependents is the major concern. One cannot predict death. However, you can plan for your family’s financial planning well in advance. One’s demise should not be the reason for compromise on essential family goals like child's education or medical support. Hence, investing in life insurance plan gives an eternal peace of mind to the person knowing that his family’s financial security will be intact whatsoever.
You get several benefits at a small cost
Life insurance plans are the best investment vehicles for those who can’t afford individual insurance like health insurance or home insurance. It will help one to meet future medical expenses as well as periodic payouts to suffice requirements like daughter's marriage. It will also help in periodic payouts to suffice requirements such as child's further studies.