LIFE INSURANCE
What is Life Insurance?
Traditionally, life Insurance used to provide financial protection to your family and dependents in the event of any unforeseen event or your untimely death. But nowadays, life Insurance has become synonymous with savings, wealth generation and protection. Life Insurance companies-these days-provide plans through which you can not only secure the financial future of your dependents in the event of death but also build wealth for them and be financially secure from eventualities such as disease and disability.
Why Life Insurance Required?
Life Insurance is required because of the following factors
- Life Insurance takes care of those who are financially dependent on you even when you are not around to look after them.
- Retirement planning takes care of your retirement, as there is no guarantee of a consistent income post retirement.
- The expenses you may incur in future will keep increasing due to inflation, and thus even a fluctuation in your income may lead to a compromised lifestyle.
- Savings plan enables individuals to secure their financial future by helping you to get attractive returns.
Why term plans Required?
Term Insurance is the simplest and most fundamental Insurance product. Term Insurance plans are designed to ensure that in the event of the policyholder’s death, the family gets the sum assured (the cover amount).
What is term life Insurance?
Term life Insurance ensures that your family receives a large lumpsum amount, called the sum assured, in the unfortunate event of death of the policyholder. By offering this benefit at extremely competitive rates, Term Insurance plans provide an opportunity to get the protection of Insurance cover at extremely affordable prices.
