Why Life Insurance is important in our life?
If you want to keep yourself and your family happy even in the new year, then it is very important for you to know...
Even today in our country, there is hesitation among people regarding life insurance, especially among women. Most of the women are not even aware about life insurance. She leaves all these things to her husband. Husbands also avoid giving more information to their wives about their savings methods, their account details, development letters or insurance policies. The responsibility of bearing the financial burden of the family here is often on the shoulders of men. However, now a large number of women are also doing jobs and are contributing in meeting the economic needs of the household. In such a situation, it is very important that you are on your own and make arrangements to keep your family safe in time. Whether the person pulling the economic vehicle of the house, whether a man or a woman, has many responsibilities on his shoulders. Every person wants children's education, desire to send children abroad for higher education, good daughter's marriage, build his own house and some source of income even after retirement.
Usefulness of insurance
Even before fulfilling all these responsibilities, if any untoward incident happens to the earning member of the household, then think what will happen to his goals? Where will the money come from to fulfill the dreams of the family? There is only one cure for this - life insurance. Through this, the family gets a safety net for all the financial goals, life insurance protects the self-esteem of the family. After the sudden death of the main earning member of the household, the family does not have to depend on others. Everything everyone needs to know about life insurance today. More and more questions need to be asked regarding this. What is the utility of life insurance? How much should it be? When should I take it? We are giving you the answers to all such questions. If you are employed or do any business of yours, then you must take a life insurance cover at least 10 times of your annual income.
Why Buy Life Insurance Policy
Suppose a person has bought a house by taking a home loan. His children are studying in private school. The family is dependent on that person for all kinds of household expenses. Now if that person dies due to some disease or accident, then in case of his absence, his family does not come on the road, for this it is necessary to buy an insurance policy. By taking insurance coverage, in the event of his failure, his dependents will get compensation from the insurance company, so that their further time can be easily cut. A life insurance policy protects the family from financial risk in the event of a person's absence.
Who should get life insurance
If the person has wife, children and his parents are old and they do not have any income of their own then that person should definitely buy a life insurance policy. The most common reason to buy a life insurance policy is to provide protection to the family against any unforeseen event. The amount received as compensation from the life insurance policy can be used to meet the expenses of the dependent members of the family for the next several years,
If you have a pledge or obligation
If a person has bought a house or mortgaged his property by taking a loan, then he must take a life insurance policy. This will not only help his family to pay off that debt in the event of his absence, but will also become a regular source of income for the family.
Partner in partnership firm
If there is a person involved in the partnership firm with you then both of you should buy a life insurance policy. This type of policy will give financial security to your firm in case of any financial loss in the event of death of your partner.
When to get life insurance
You should buy a life insurance policy as soon as you get a job. Term plans are the best option to get maximum coverage at a low premium for getting life insurance coverage. The lower your life insurance policy, the lower will be your premium
For how long should insurance be taken
As long as your family members are dependent on your income for their expenses, you should buy an insurance policy only after anticipating that time. As long as you are an important earning member of your family, you should get life insurance. It is generally believed that if you are married at the age of 30 and you have 2 children by the age of 35, then their education etc. will be completed in the next 25 years and by then they will start living. . Accordingly, you should take a life insurance policy for the age of 60-65 years.