Life Insurance The word plays magic, it gives a hype, it draws a dream of a secured and happy life of your children, family and yourself pre and post retirement. Insurance has numerous faces ULIPS, term plans, child plans, health plans, pension and retirement plans. One has to choose from these plans and then select the one which suits his pocket. But, this is the point where people flinch their hands. They often stop at the idea of paying for long terms. They stop where the idea of what if I am not able to pay the stipulated premium after a certain period of time?
Lets take a look at why such things should not stop one from taking an insurance policy at the correct time. Insurance is something which involves the monetary security of your family, parents or yourself. Is something which is practically concerned with the welfare of your family? It is the one which concerns your familys future and so is something in which everyone should not rethink about.
Insurance cover is best when taken in young age say, when you are still in your 20s. You would think I am flipping the cards. But, is not so. Insurance comes with the formula lesser the age, less would be the premium and vice versa. So, if you take insurance when you are still young, you will have to pay lesser premium and the cover amount will be much more than the policy taken at a older age.
Life Insurance includes other benefits also like tax exemptions and receiving sum assured at the pre decided periods. This definitely eases out the insured person, especially if he going through a crunch. These also give good rate of returns better than PPFs and Bonds. Generally a fixed deposit or a bond will give you 8%rate of interest whereas a life insurance policy can give as high as 18% returns, especially if its a ULIP. Another big advantage of life insurance is the peace of mind. With your familys future secured, you are always at peace.
After LIC several life insurance providers have come in the field with a host of products. If you have a policy, look for the places where you need to take a policy - like life insurance and if you dont have a policy, then take one as soon as possible.
Lets take a look at why such things should not stop one from taking an insurance policy at the correct time. Insurance is something which involves the monetary security of your family, parents or yourself. Is something which is practically concerned with the welfare of your family? It is the one which concerns your familys future and so is something in which everyone should not rethink about.
Insurance cover is best when taken in young age say, when you are still in your 20s. You would think I am flipping the cards. But, is not so. Insurance comes with the formula lesser the age, less would be the premium and vice versa. So, if you take insurance when you are still young, you will have to pay lesser premium and the cover amount will be much more than the policy taken at a older age.
Life Insurance includes other benefits also like tax exemptions and receiving sum assured at the pre decided periods. This definitely eases out the insured person, especially if he going through a crunch. These also give good rate of returns better than PPFs and Bonds. Generally a fixed deposit or a bond will give you 8%rate of interest whereas a life insurance policy can give as high as 18% returns, especially if its a ULIP. Another big advantage of life insurance is the peace of mind. With your familys future secured, you are always at peace.
After LIC several life insurance providers have come in the field with a host of products. If you have a policy, look for the places where you need to take a policy - like life insurance and if you dont have a policy, then take one as soon as possible.
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