Do I need an Insurance?

Do I need an Insurance? A question which pops in our mind every time a insurance agent approaches us, and as always we quickly reply by saying " No I dont need one".But have we thought of Who will take care of my family if tomorrow something unfortunate happens to us?

If this question bothers you, then you need Life Insurance. The loss of a loved one is a painful experience. But, if your family is also left without enough money to meet daily necessities or prepare for future plans, they will have to go through more stress as they will face a financial crisis at the same time. A Life Insurance plan ensures that your family is financially secured even if tomorrow you are no longer around to care for them. Life Insurance helps us to secure ours and our family's future.

Life Insurance is a necessity and not a luxury.

1) Life Insurance Provides Risk Cover :

A Life Insurance plan ensures that your family is financially secured even if tomorrow you are no longer around to care for them.

2) Provides for Long Term Needs :

Each of us have some goals in life for which we need to save. Life Insurance provides for such long term goals like our children's education, their marriage or building our dream home, according to our life stage and risk appetite. Traditional Life Insurance policies like endowment plans, offer in-built guarantees and defined maturity benefits through variety of product options like Money Back, Guaranteed Cash Values, Guaranteed Maturity Values etc.

3)Builds a habit of saving :

Life Insurance is a long-term product where the insured, has to pay a fixed amount at a defined periodicity. This in a way builds the habit of long-term savings. Regular savings over a long period ensures that a good corpus is built to meet financial needs at various stages of life.

4)Assured income through annuities :

Life Insurance is one of the best ways to save for retirement. The money you saved during your earning life span is utilized to provide a regular source of income after your retirement.

5)Loan Facility :

The insured has an option to take a loan against his policy. This helps you meet your unplanned requirements without affecting the benefits of the policy.

6)Tax Benefits Under Section 80C :

Life Insurance premiums provide deduction under section 80C of the income tax act, also the amount earned from the policy on maturity or death is also tax free.