Why To Go For Life Insurance Policy
Nowadays, Insurance is not restricted to old traditional plans. The emerging insurance industry in the last few years has shown a massive growth, in which many insurance companies have come out with different types of life insurance plans to serve people better. Now, insurance companies are offering plans with greater features. It can be a plain life insurance cover, investment plan, pension plan money back policy among others.
So what should you choose? Which is the best life insurance policy? These are a few questions that arise in your mind. Don't worry as below is the complete guide that will help you in choosing the best.
Do you require Life Insurance?
If you have a financially dependent family on you then you need a life insurance plan for their protection and a secure future.
What you will get under the best Life insurance Policy
Financial cover for your family in case of your unfortunate demise. A great way to save money for your childrens's future, his/her education and your retirement as well. It is also a great tax saving tool.
So, Where Do You Start?
Understand your needs, financial position and then proceed ahead to chose the right plan for yourself.
Asses the need of life insurance
You should also ask some basic questions to understand the need of having a life insurance.
- What are the current lifestyle expenses of your family?
- How will they survive when you are no longer with them?
- Expenses that your family would require in the future that includes expenses for marriage or education of children?
When do you buy insurance?
The need of life assurance for an individual changes with every stage of his/her life. However, the known fact is that a person buys the best cover policy for him that fulfills the requirement and is reasonably priced as well. It is highly advisable that you should buy a life assurance policy at an early age and opt for wider options.
There are several forms of life assurance policies. That's why it is essential to check your requirements first to get the best life insurance policy in India.
Term Insurance: It provides high-risk cover facility at a low premium. In case of your death, the insurer will pay the sum assured to the nominee or beneficiary mentioned in the policy.
Whole Life insurance: it covers you throughout your life that's why you need to pay the premium until you die. In case of your death your nominee will get the full sum assured amount.
Endowment Plan: In this you have to pay higher premium which is being invested in the asset market- Equity and Debt.
Unit-Linked Plan: It is a plan which provides assurance and investment as well. The sum assured is paid out in the event of death.
Money back Plan: A portion of Sum assured is paid out on a regular basis. In case you survive, you get the balance sum assured and if you die, your nominee gets the full sum assured.
Try to review your income changes and needs regularly, to make sure that you're getting the most out of your life cover.
We provide life insurance plans online and find and compare the wide range of best life insurance policy in India. Compare life insurance online from various insurance companies and get good health insurance India.
Source: http://tinyurl.com/zh3yaou
