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Why having life insurance is so important

Le 8 mars 2017, 06:46 dans Humeurs 0

It’s not about greeting cards or plush toys on St. Valentine’s Day; in fact nothing says that you care for your loved ones like ensuring that you have life insurance coverage to battle any contingency that life throws your way.  While we would obviously not choose to dwell on what most people consider morbid – disability or death – the truth is, it is reality, and it is something that we all have to deal with at some point or the other. So instead of pushing the thought away, how about considering insurance for yourself as well as your loved ones? If you’re unsure of which is the best life insurance companies for you, read on to know why having life insurance is so important, whatever life stage you may be at.

Contingency planning – It’s quite simple: you can never tell what happens when and just how severely you may get impacted. In an unfortunate event, an individual can wind up with partial or full disability and in such instances, even holding down a job may be impossible. To plan for the family therefore, a good life insurance plan is what is required.

In addition, do consider what would be the best health insurance plan for you, because hospitalisation does not come cheap, and instead of scrambling around for funds, it is best to insure yourself and take care of any unforeseen circumstance.

Building blocks for the future – When you choose the best life insurance companies remember to keep in mind that you can use this as an effective tool to plan for the future as well. For instance, if you have an expense such as a child’s higher education or marriage coming up some years down the line, consider availing of a money-back policy. These plans offer you the security of life insurance, and at the end of the policy tenure, as the name suggests, return your money, which you can time to take care of your expenses.

Of course, do remember that the primary purpose of life or health insurance is to cover yourself and possibly your family (or at least provide for them), in the event of disability or death of the policyholder. Hence when choosing the best life insurance policy, ensure that it meets your requirements and is not merely a plan you choose at random.

Death should not be the end – While this is an unfortunate reality, remember that it is well within our power to ensure that while our loved ones may be crippled emotionally for a long time to come, it need not be so financially at least. Hence, as a responsible individual choose a life insurance companies that helps your family after you are gone. A term assurance plan is one such solid product that pays out the sum assured on the death of the policyholder, which is offered to the nominee on the policy. This money can then be used as the family deems fit, whether to purchase a home, pay off existing loans or save up a nest egg towards the future, or even plan a child’s marriage long after you are gone.

Retirement planning – When you are in your 20s and 30s, retirement indeed does seem to be a long way off. But before you know it, you’ll not just be past the new jobber stage, but are likely to wind up being halfway through an active career before retirement planning hits your mind. As we age, medical costs shoot up, and hence having the best health insurance plan becomes important. This takes care not only of medical expenses but also covers the policyholder across certain critical illnesses, depending on what

type of insurance coverage you choose. Reason enough then, to be able to sit relaxed and stare into the sunset, by buying insurance.

Peace of mind – Last but not the least, very importantly what you get when you avail of the best health life insurance companies or life insurance policy is some well-deserved peace of mind. This is because once you and your loved ones are taken care of financially; there is nothing else that can compare to the feeling, especially when you plan ahead for a secure future in your absence.

Our verdict

It is very important to have not just health and life insurance companies protection at all life stages, but it is equally important to be adequately insured. Using various online tools and calculators, you can work out what plan meets your requirements and take the first step towards being financially secure.

 

Source: https://www.creditsudhaar.com/blog/2016/09/20/why-having-life-insurance-is-so-important/

Choose the best insurance policy for family safety

Le 1 mars 2017, 07:05 dans Humeurs 0

Life is rat-race. Even youngsters or rather college or schools goers are under tremendous pressure to excel ahead, while adults are already caught up in a perpetual race to succeed. Unexpected emergencies in the midst of life can actually bring life to a standstill and cause huge financial loss. Most affected are the ones who don’t have adequate financial security. When the earning member of the family suddenly passes way or gets permanent disability, it’s the family who suffers the untold misery of income depletion. At such times, a suitable insurance policy offers a safety net till the time family is able to generate income and get back on track.

However, due to the varied offerings from life insurance policies, it becomes a task to choose the best life insurance policy that will suffice the individual and family needs. Insufficient knowledge on the topic also delays the decision of buying the best life insurance policy.

We cannot say that a particular product from a specific company is the best. To decide on the best life insurance policies, firstly, it is important to understand why you need a life insurance policy? It is because you want to protect your family and yourself against financial hardships and sail safely during economic tornados. But it's sad that majority of Indian buyers buy life insurance policy as a mere investment and to avail tax benefits. However, this approach is wrong. If you keep these factors in mind at the time of purchase chances your policy might not prove the best life insurance policies to take care of your family needs.

Before taking an insurance policy it is important an individual figure out their individual needs, current lifestyle and future financial goals. To this, we will have to add the inflation costs in near future, existing debts in hand and daily survival needs of your family in your absence. Once you add all of this you will come to a suitable number that will be the amount of cover you require for family’s financial security.

Ideally, speaking no amount of money can prove sufficient when it comes to family well-being. But, practically there has to be some amount to choose based on your income source and risk appetite. Thus, depending on these factors you will have to pay a suitable premium towards the insurance company for the amount of cover you wish to take.

 

Today, in the era of internet based facilities there are various life insurance policies companies who display best of the products and services online. There are comparison sites that will help you compare the policy quotes in terms of benefits and features, terms and conditions, discounts offered, premium payment flexibility and hassle-free claim settlement. Some companies have also introduced mobile apps that will help you compare policies, pay the premium, renew policies or make hassle-free claims while on the move. It is advisable to compare apple-to-apple while choosing the best life insurance policy for your family’s financial needs.

Online Term Insurance A cost-effective way to protect your family financial needs

Le 28 février 2017, 06:17 dans Humeurs 0

Term plans insurance are is the best protection cover that will help you build a security nest around your family in your absence. These plan sIt comes at extremely affordable premium rates with offering cover worth crores at a cost of few thousands of rupees.  However, the situation of too much or too little insurance cover is very common for customer purchasing a online term insurance cover. So, the article focuses on giving some recommendation on splitting term insurance very carefully – it will surely be worth your time.

In this era of changinge times, the term plan needs are not always constant. That’s because of your income, lifestyle and life stages, are not same throughout your life span and therefore the amount of income protection you need also keeps changing over your earning the year. Initially, For instance, when you’re young and not married and young your financial needs will be are lower compared to once the ones who are you get married & start your have a family. Obviously, for family convenience, you might borrower loan such as housing loan, car loan, or other personal loan needs. Therefore, the amount varies as per your age. Ideally, a term plan insurance is should be chosen based on the basis of your income source, risk appetite, family’s financial needs, any existing loan or debt to clear off, and future inflation costs. Based on these factors you will have to come to a suitable consensus on the loan online term insurance amount.

There are 3 term plans concept during lifetime:

You can buy your first online term insurance plan with a basic cover when you start working and are in the age bracket of around 20 to 27 years. and Then keep renewing the policy at regular intervals till the age of 51 to-55 years or until 60 years. When you’re young, the term insurance plan will come at a cheaper rate.

As you settle down in your career and get married and have children, you can buy another a term insurance plan with a bigger cover that will cover keep you covered you till your retirement age. 

As you approach the peak of your career, buy another term plan with a higher coverage once you’re clear how much you need at the maximum level.

Today, due thanks to the internet-based facilities, India people can easily buy online term insurance.  Instead of being sold an insurance cover that will neither serve our needs but only fattens the agent’s pockets, term cover is now being bought by customers directly online.

The best part of about the online purchase is that term the plans covers are around 30 – 40 % cheaper compared to manual process offline plans as there is are no costs incurred of on middlemen and inventory set up. The benefits are ultimately passed on to the end users. It also saves time and effort for customers. Secondly, since a person can buy a term plan online, it is understood fact that he or she might be educated, knows how to keep their health and finances in proper place and therefore, the plan could be sold at affordable rates. 

 

 

The main part of the online term insurance purchase is since the policy is purchased at your discretion it's important you stay truthful and accurate in whatever you mentioned in the application form, buying your term insurance cover from just one company is good enough. It also saves the headache of applying to different companies,  doing medical check-up over the times, paying renewal premium for each policy every year, and a lot of hassles for the nominee when applying for a claim.

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