Why we Need Life Insurance?
Why we need Life Insurance? Insurance planning is one of the best option for investment planning and also secure our life. Because we want to protect family from financially after death.Losing the death of income during a period of mourning goes to higher level of stress in lot family members. Avoid to these problem we have to take insurance policies.You have to find which life insurance policy can help to reduce the amount of stress after you passed on.
Term life insurance for newlyweds
Buying life insurance is not in mind when you are single or newly married. But once you have children, there is no doubt that life has changed forever. So investment or insurance planning is important in everybody’s life. That only gives compensation for our death to our family members. Even though it is called death insurance but it save his/her childrens future.
Not all the insurance policies provide the same level of protection and benefits. Before purchase a policy, you should also aware its features. You should find that your family will get more money if you met with an accident and die during at work. Your policies may only cover a certain amount of funeral and living expenses for your family. Once that amount has been reached, your family will have run out of funds. That means you should choose an affordable policy that offers an appropriate level of protection.
how much life insurance do i need
Generally, insurance used to the first choice of rich people who are seeking investments and tax saving plans. Tax saving is one of the major benefit of insurance because many middle class people affected a lot in paying tax , so life insurance saving their policy holders. You want to protect your family from the financial effects of your death. Losing a source of income during a period of mourning often adds an intense level of stress to surviving family members. You might find, however, that purchasing a life insurance policy can help reduce the amount of stress that they experience after you have passed on.
Should you have life insurance
Below I mentioned various life insurance polices for child,teen ages,College students,Newly married couples ,Life insurance always help to full fill the future plan.Most of the Insurance companies providing quarter ,Half,Yearly plans to early makes a plan to create painless life
Various Types of Policy
Term insurance policy
This type of policy a fixed amount to be paid to a certain period of time. Within this time the policy holder expires the sum of money to the beneficiaries that is his or her family members. These type of insurance policy is called risk policy.
Whole life policy
It is a permanent life insurance policy. This type of policy covers a policyholder against death throughout his life term.
One of the popular life insurance policy. Incase of death during the period the family gets the sum assured. If the policy holder survive during the period he gets back the premium paid.
Money back policy
This type policy is favoured by many people because it gives periodic payment during the policy term.In case of death during the policy term the beneficiary gets the sum assured.
This type can be used for long term financial goals such as marriage,children’s education and retirement. It provide market linked life insurance policies.
Annuity and Pension
The insurer agrees to paid a sum of money in periodically basis. The purpose of annuity is to protect the money from financially risks.