Life Insurance

Life Insurance is the best source of providing a strong financial backup & support for your family after your unfortunate demise.

Life Insurance is an important part of a sound and structured goals based financial planning.

Different types of life insurance plans help you save in a well structured manner for important goals of life.

The principle behind life insurance is simple, in theory. It's also morbid, at least compared to other financial services. You pay small amounts at monthly intervals, so that when you die, a beneficiary of your choice gets a sum of money approximating what you would have earned had you stayed alive.

That's the stark truth right there, which a lot of life insurance customers fail to comprehend: the service is supposed to be nothing more than a replacement plan. The idea is that should your family suffer a crisis that transcends finances, at least their finances won't be impacted too negatively. If you die, your spouse and kids won't have to take on multiple jobs, beg for alms, nor lose the house and car.

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  • Hedging Your Bets

    It's important to remember that life insurance isn't really "insurance" in the dictionary sense. When you buy life insurance, you're not "insuring" anything. No matter how much money you give them, We can't keep you from dying. No, life insurance is more about hedging your bets than anything else. While you'd prefer to live, if fate has an alternate plan then you can spend money now to help your family avoid multiple catastrophes later.

    But as a result of it being called insurance, there's an overly conservative type of person who believes that if "coverage" of some kind is good, then more coverage must be better. Buying life insurance thus becomes a test of one's capacity as a responsible adult and breadwinner. What kind of person doesn't want to protect their loved ones? To that end, some people insure anything that moves – even their children.

  • Top Reasons Why Life Insurance Is So Important

    Hopefully these stories have shown you just how important life insurance is and that it can save the lives of the people you live with. If you still have doubts, here are some reasons why life insurance is a necessity, not an option:

    • Pay Off Debts:- A life insurance policy can pay off any debts that you leave behind that would be a burden to your family. Debts such as a a mortgage, credit cards, car loans and even your funeral expenses can have a dramatic impact on your family and their lifestyle.
    • Provide for Your Kids:- A life insurance policy will ensure that your children can go to college, buy a home and even pay for their wedding if you die unexpectedly.
    • Peace of Mind:- A term life insurance policy is an inexpensive way to give you and your family members peace of mind, knowing that they will be protected if something happens to you. You will no longer have to worry about their financial future and can rest easy knowing they will be able to continue their current lifestyle.
    • Funerals Are Pricey:- Even a basic funeral can cost $7,000-$10,000. A small life insurance policy will make sure your final expenses are covered so your family doesn’t have one more worry at an already stressful time.
    • Supplement Your Retirement:- Permanent life insurance policies accumulate a cash value over the life of the policy that can be borrowed against tax-free. These policies can be used to supplement your retirement if your other investments fall short. These policies often come with fairly high fees, so be sure to compare the costs to those of other investment vehicles.
    • Protect Your Business:- Regardless of whether you are using a life insurance policy to insure a key employee, fund a buy/sell agreement or simply provide a tax-free cash infusion (borrowing against the cash value of a permanent policy), life insurance can be a major asset to your business.