Life Insurance – Why Is It Necessary?
Insurance, the word itself provides a feeling of safety, security and guarantee. People are getting more and more insured due to fear of insecurity and financial crises in future for their self and to their family. Those who really care for their family and dependents, necessarily go for insurance policy at least one. Still there are many who don’t think insurance is necessary for them. It is obvious when we are single or free from dependents but when you have a family behind you or your dependents behind you then insurance is a necessity. Even if you are a single person then also you need insurance as it is not only for your family or dependents after your death but insurance policy even support you financially if you stay alive till the period of term. life insurance
There is no doubt that losing your loved ones is very traumatic but more traumatic is the situation that left around dependents have to face after the death of the person. Life Insurance here assures you that it will financially guard and assist your dependents when you are not with them. Here are some benefits of Life Insurance.
Protection to your Family – Life Insurance provides sure financial protection to your left around family after your death. With it your spouse will feel secure financially, your child’s future will not be interrupted and many more.
Insure your Life – With Insurance you basically secure your life. It is not that Insurance only benefits you after your death rather it provides you financial assistant at that age when you need it more, if you survive to the date of term period.
Asset Protection – Not only life rather insurance also provides protection to your asset and property such as house, land, building, gold, ornaments and many more because loss of asset is very traumatic and painful.
Goal Based Savings – If you are not interested with life assurance then you can take insurance as a investment plan and goal based savings. Insurance policy gives you a high return on your premium paid as investment.
When I Need Insurance?
It is very important to know the time when you actually need the insurance. Most people are confused with the right time to buy insurance plan which is very important to decide the actual plan you need.
At time of marriage – When you get married you no more remain single and you are doubled with responsibility. It is a best time to buy a insurance plan for you and your spouse.
At the birth of child – Birth of child is another important moment when you should buy an insurance plan for your newly born child so that he or she should be free to cast his or her future dreams.
At time you buy home – Buying a home is a dream come true for anyone in this era and if any loss or tragedy happens to it, it is really very painful. You should cover your property with insurance to meet future tragedy.
At time of new job – Getting a new, fresh job is also a best time to buy an insurance cover to safeguard your future. Insurance plan helps you to feel free from future tensions of finance when you are retired.
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