Reasons Why Life Insurance Is So Important
Life insurance is termed as one of the most important steps in your life. If you are not insured and are a breadwinner, then it is important for you to get it without any further delay. You should also need it in case if you are not a breadwinner.
You would need to take care of your dependents in some or the other way. Life insurance companies offer great plans which ensure that your family would lead a healthy and secured life after you. They would not be dependent on anyone for money which is a huge ask in this world.
6 Things You Absolutely Need To Know About Life Insurance
Indians are the least insured when the statistics are discussed across the globe. Therefore, the insurance industry has a high scope here. But this is only when you explain the need to the customer.
This is not a sales pitch to help the insurance companies gain from it but an eyeopener for you. Life insurance companies in India have some of the best available plans which help the customers to get major benefits. So, let us list down the needs of life insurance.
- The first benefits of a life insurance policy are that your family is secured from any monetary challenges.
- The life insurance policy gives the entire sum to the dependents at one go. This means that the receiver can plan for a lot of things which need immediate attention.
- You can get the best life insurance policy for a woman. This is to spread the awareness that life insurance is not gender-specific and almost everyone should buy it.
- You can do a reverse calculation on the sum assured you need for your life insurance.
- The amount paid as a premium on a yearly basis is fully exempt in income tax which makes it a benefit for the policyholders.
- The sum is huge, and you can plan for your future without thinking about how to generate funds and get out of the trauma with ease financially.
Need and Benefits of Buying Life Insurance Plan
You can buy life insurance through two methods. One being the offline mode and the other being the online mode. In an offline mode, you may need to go to the insurance company and get all the paperwork done.
But in an online mode, all the details are readily available in front of your screen through the life insurance app. This app is very useful for all your needs in insurance. The life insurance site has an app where you can download it for Android or any other mobile platform.
Once you download the app, you need to register yourself and start searching for the best life insurance policy in India. This way you would get many options in your search results which would help you to decide which one is best for you. You can also get the assistance from the customer care executive who would help in any issues you face or queries that you have.
Frequently Asked Questions
Q. What is life insurance and its types?
A. Life insurance is a cover for your life which is materialized when you die due to various reasons. There are two major types of insurance for life. They are term and investment plans.
Q. Is life insurance a good idea?
A. Life insurance is a very good idea in case if you have dependents in your life and have no major source of income once you die.
Q. Do most people need life insurance?
A. Almost everyone needs life insurance unless you are born in a royal family who do not need money at all anytime ever.
Q. Which life insurance is best?
A. This is a huge horizon and it depends on the need of the buyer. You can skim through the many options available, but the most sought-after option is a term insurance plan which has a high settlement ratio.
Q. What happens to life insurance if you don’t die?
A. Life insurance investment is not refunded in case if you do not die in a term plan. But in an investment cum insurance plan, you get the agreed value at the end of the tenure in case if you do not die.