Life Insurance
Life Insurance Services
Life Insurance is a policy where the insurer promises to pay a certain sum to the insured, upon the death of insured, in exchange of which the insured needs to pay a regular amount known as premium.
Everything has a value!
| Things | Value |
|---|---|
|
AC |
30 K – 50 K |
|
LED TV |
50 K – 70 K |
|
CAR |
7 L – 15 L |
|
New Home |
60 L – 1.50 Cr |
|
You |
????? |
What is your value?! While knowing the value of the replaceable objects, we forget to count the value of irreplaceable human life.
Why do we need Life Insurance?
We all know the value of human life. A person has numerous roles and responsibilities towards his/her family. However, in case of unfortunate death of the person, there can be a plan that offers financial security to the family. Below are the reasons to take Life Insurance:
– Peace of mind
– Helps in tax deductions
– Financial security for family
– Over-all coverage at low-cost
– Long-term financial planning for life
– Children’s higher education
– Children’s Dream Wedding
– Guaranteed income for golden years (Retirement_
– Asset creation through life insurance
Watch this short video to understand the importance of Life Insurance:
To sum up the video-
– Life Insurance is nothing but risk management.
– If 100 people take the insurance, then according to data, 1 will die in the given year.
– But for the companies, it is 1 out of 100 loss, 99 people are still paying the premium.
– However, for that one dying person and his/her family, it is a 100% loss.
– So clearly, you have the higher risk. Then, let’s transfer our risk to the Insurance Companies.
Different plans of Life Insurances
1. Term Insurance
It is a type of life insurance that offers a high amount assured at an affordable premium. The insurance company promises to pay a sum assured to the policy nominee in case of policy holder’s untimely death.
2. Unit Linked Insurance Plans (ULIPs)
ULIP is a unique type of life insurance that offers dual benefits of life cover as well as market-linked returns on your investment. A part of the money paid as premium is invested in different fund options while the rest of the money is used to provide the life cover.
3. Plans for Children’s Higher Education
A child plan is another type of ULIP under which you can generate wealth to support the plan of higher education of your child. With a child plan, you also get an opportunity to invest money in various funds.
4. Endowment Plans
These plans are known as a mix of life insurance plan and savings plans. By investing in an endowment plan, you will receive life cover and savings benefit as well. You will get the maturity benefit on outliving the term of your plan, with periodic bonuses (if any occurs).
5. Retirement Plans
Also called, deferred pension products, these plans aim at helping you create wealth for your comfortable retired life and to be able to enjoy financial independence. Your nominee will receive immediate payment in case of your death during the policy term. Otherwise, if you survive the term period, you will receive the vesting benefit.
Safeguarding your family’s financial position after your unexpected demise is the smartest step you’ll take today. Life is unpredictable and uncontrollable. The best we can do is, secure our loved ones’ lives against such unfortunate events.
Do you wish to secure your family’s financial condition by discussing a suitable Life Insurance plan, contact us and get a FREE consultation today!