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Tuesday 22 October 2013

Life Insurance



There are quite a few things in life that the average household can live without, but life insurance should not be one of them. The importance of life insurance increases as the number of people in a household increases. A single person with few, if any, close relations can get by on a very little life insurance or perhaps no insurance at all. 
The main reason people consider buying life insurance is to protect the people they leave behind. Having coverage in place is especially important during the policyholder’s main earning years. Life insurance is a way to protect your family against possible financial trouble or even ruin, depending on your circumstances. Life insurance is also a way to relieve some of the anxiety that family members may feel as they wonder how they will get by should a breadwinner in the family pass on. Some forms of life insurance can even be used as a means of saving money over the long term.
Solution
It is important for you to understand that "life insurance" is a very broad term. There are various types of policies and often one will be a far better option for a particular family or person than another might be for that same family or person. You should be insured for at least 100 times your monthly income, according to experts. 
A Term Life Insurance plan is the best way to secure the family financially. Term Plans are affordable and allow a person to adequate Sum Assured.
Cover
  • High cover at very low cost
  • Tax benefits under section 80(C)
  • Covers all forms of death
  • Includes terrorism attack
  • Choose from 5-35 years Policy Term
  • No medical upto Age 45 years
  • Tax Benefits Available
  • Special benefits to women
  • Minimum premiums
  • Life cover from Rs 10 lakhs to Rs 10 crore!
  • Life insurance also acts as a flexible money-saving scheme, which empowers you to accumulate wealth-to buy a new car, get your children married and even retire comfortably
  • Life insurance also triples up as an ideal tax-saving scheme
  • ULIPs are a category of goal-based financial solutions that combine the safety of insurance protection with wealth creation opportunities. In ULIPs, a part of the investment goes towards providing you life cover. The residual portion of the ULIP is invested in a fund which in turn invests in stocks or bonds

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