Why Life Insurance

Life Insurance

What is Life Insurance?

Life Insurance is a cover for a contingency with human life, like , disability, accident, retirement etc. life is subject to of death and disability to natural and accidental. When human life is or a person is permanently or temporarily, there loss of income to household.

Though human life cannot valued, a monetary sum be determined based on loss of income in years. Hence, in life , the Sum Assured (or amount guaranteed to be in the event of loss) is by way a 'benefit'. Life Insurance provide a definite amount money in case the insured dies during the of the policy or disabled on account of accident.

Why Life Insurance is ?

5 Reasons why adequate insurance is must for

  • To ensure that your family has some financial in the event of demise
  • To finance your children's and other needs
  • To have a savings for the future so you have a constant of income after retirement
  • To ensure that you extra income when your are reduced due to illness or accident
  • To provide for other contingencies and life style

Who needs Life Insurance?

Primarily, anyone who has family to support and an income earner needs Insurance. In view of economic value of their to the family, housewives need life insurance cover.

How much Life is needed?

The amount of Life coverage you need will on many factors such :

  • The number of dependants have
  • What kind of lifestyle want to provide for family in your absence
  • The amount you need your children's education
  • Your investment needs

As an Investment

Apart from risk cover insurance also offers the of regular savings. Whole plans, Unit Linked Insurance(ULIP), endowment or money-back etc offer a mix life cover and savings. a whole life plan policy holder is covered death or on reaching 100 years of age. If insured individual lives beyond age of 100, he/she a maturity benefit and the case of any event, his/her nominees receive death benefit. A whole insurance policy also accumulates cash value that's accumulated the life of the .


Providing Financial Security

Life insurance provides you that unique sense of that no other form investment provides. By buying insurance, you buy peace mind and are prepared face any financial demand would hit the family case of an untimely . It can also help family to enjoy their lifestyle in your absence compromising on their dreams.


Tax Planning

Life insurance can be valuable tool in tax . Apart from helping you tax on insurance premium by you up to extent of 1.5 lakhs , it also offers tax maturity in most insurance


As an Emergency Fund

The cash value accumulated your insurance policy can used as an emergency in case of financial. Most regular life insurance also offer the facility loan which can also in handy if you facing a cash crunch.


For your Retirement Planning

Life insurance is a term investment. So over long period of time can accumulate a substantial along with the policy which can help you supplement your income after.


Different types of Insurance

Life insurance policies can broadly classified into three, such as pure insurance traditional polices (endowment, money, whole life insurance plans),plans and unit linked.

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