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life insurance policies, life insurance plans, life insurance policy, life insurance companies
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There are a lot of people who receive pleasure from buying things, it is called retail therapy. • It’s the feeling of elation that you feel when you purchase a new item of clothing, a new bag or anything new for that matter. • Sadly no one derives pleasure out of purchasing a new life insurance policy.
Life insurance plans are your security blankets for the future, in case something were to happen to you, they make sure that family is taken care of financially. • Your life insurance plans can help fund your children’s education, help clear your debts and basically help your family get back on their feet in your absence.
In order for your life insurance plan to be a good investment as well as a security, it needs to be tailored to the needs of your family. • While buying a plan one needs to take into consideration the current income, loans if any, the expenses etc. of a family. • Your life insurance plan will only be useful if it provides sufficient cover to your family in case of an unfortunate incident. • There are a lot of life insurance companies in India that provide multiple plans. • To choose one that suits your needs the best you need to look into all of the above factors.
There isn’t just one type of life insurance you can invest in. There are multiple kinds with different benefits from each. Here are some options you can explore.
It’s the simplest type of insurance. • Here, your family is assured a pre-decided amount in case of a death, if it takes place within the term of the insurance. • If it doesn’t the insurer does not have to pay anyone. • The lure of this type of insurance is the low premium.
This policy has a dual benefit. • One part of the premium goes to the insurance while the other part is invested in equity or debt. • At the end of the term or in case of the death of the policy holder, a lump sum is paid to the family.
This policy provides cover for the entire life of the policy holder or for a hundred years whichever’s earlier. • In addition to that, the policy also calculates a bonus on the amount assured, which it then pays to a nominee after the death of the policy holder.
Child Life Insurancepays a lump sum amount to the child of the policy holder in case of his/her death. • This amount is paid to the child at set intervals as planned by the policy holder. • This insurance is a good choice to secure your child’s future.
