Looking for a Life Insurance product?
But not sure exactly how it works?
Well, this page is aimed to give you a complete understanding of how it works and helps you to choose the products that suit you the best at every life stage.
"Everyone has a set of primary needs that requires sufficient funds to fulfill them. This is where life insurance comes into the picture- as it offers tailor-made products to cover every aspect at different stages of life. There is no doubt that life insurance is a must-have for everyone. Hence its very crucial to have a complete understanding of the value a life insurance policy can bring into your life and that of your loved ones".
What is Life Insurance?
"A life insurance policy is actually a contract with an insurance company. A lump sum amount is provided, in exchange for premium payments, known as the death benefits, to the nominees or beneficiaries upon the death of the insured. While choosing life insurance, the advisor will help you to map it with needs & goals. This will help you pick out the options that suit you the best".
Why is it important?
"Life insurance is of significant importance if you wish to protect your family or dependents from any economic hardship in your absence.
It’s not an expense-many people think of it as one & choose to completely even consider its importance. It’s a very essential tool that will help you build wealth and at the same time offer complete protection to you for your family".
"Even if you have no immediate dependents relying on you financially, it doesn’t mean that you don’t need life insurance. There are many costs that you need to factor in and which need additional income to fulfill them. Life insurance helps you meet such expenses while safeguarding your current income".
"Unexpected passing of individual leaves a lot of void and the surviving members are left to cope with a lot of stress and trauma. And no matter what, expenses never ceases to exist; it just piles on- be it rent, childcare expenses, loans, etc. In such a scenario, loss of income would cause an immediate financial hardship and your loved ones are left struggling. Nobody wishes this upon their family, hence life insurance needs to be seriously considered".