Dipastein – 7 Reasons Why You Should Buy Life Insurance. The purchase of life insurance is one of the most important financial decisions, but believe it or not, only 10% of the indonesian are insured. But why is it so important? Well, no matter how much you win, nobody knows what the future is. Many people die prematurely every year of illness or accident and, if you are the only family support of the family and you had to disappear, it could have devastating consequences for your loved ones – their ability to pay the fees housekeeping, debts and maintain their standard of living.
The least you can do, so it’s securing the financial future of your family by buying a life insurance policy. In addition, do not neglect the benefits of life insurance during your life, especially if you are young. We enumerate 7 compelling reasons to buy a life insurance policy.
This is 7 Reasons Why You Should Buy Life Insurance :
1. Take care of your loved ones, even after your go away :
it is the most important aspect of life insurance that must be taken into account. Your family depends on yourself after your departure and you certainly do not want to drop them. Whether it is to replace lost revenues, paying for your child’s education or to ensure that your spouse benefits from the necessary financial security, life insurance could save the day for your surviving dependents.
2. Debt Treatment:
You do not want your family to treat financial liabilities during a crisis. Any exceptional debt – a real estate loan, a car loan, a personal loan or a loan on credit cards – will be supported if you buy the good life insurance policy.
3. Helps achieve long-term goals:
Because it is an instrument that keeps you invested in the long term, it would help you achieve your long-term goals, such as buying a house or to plan your retirement. It also provides you with various investment options that present themselves with different types of policies.
Some policies are related to certain investment products that pay dividends based on their performance. If you opt for a strategy related to investment, be sure to read finesse printing to be fully aware of potential risks and returns.
4. Life insurance completes your retirement goals:
Who would not like their retirement savings until they do it? With a life insurance plan, you can make sure you have a regular income stream each month. Putting money in an annuity is like a pension planning – regularly put money in a life insurance product and enjoy a stable income every month even after retirement.
5. The purchase of insurance is less shit when you are younger:
every millennium do not need a life insurance policy. If you have not created emergency funds or if you still live with your parents’ money, insurance should not be a priority.
However, if you have dependents or you co-signed a loan with your parents (or any other member of your family or friend), whether it’s a student loan or a Real estate loan, you must start buying life insurance. Politics. In addition, coverage costs are much lower when you are single. Insurance agents can try to sell you a policy you may not need.
Therefore, do your due diligence or approach a financial planner to determine the amount of insurance you need given the other assets you can own. Even if you are single, there may be other dependents and you need to make sure they are supported. Pradeep Pandeey, Marketing Manager, Future Life Insurance, says: “As soon as possible. For example, singles provide financial support for aging parents or brothers and brothers with special needs. Insurability is another Reason to consider life insurance when you are simple. If you are young, healthy and you have a good history of family health, your insurability is at its peak and you can get the best rates for your police d ‘life insurance. ”
6. Your business is also supported:
life insurance is not only for yourself and your family. Some insurance policies also take care of your business. If you have a business, your partner can buy your portion of the company without hassle. Your company partner will enter a purchase sales agreement and the payment would go to the candidatures of the deceased partner, but without giving them participation in society. There are two types of life insurance policies, a term insurance policy and a life insurance policy.
Although we are all aware of the benefits of death, these insurance policies provide, we know little about the different options that could help strengthen your financial situation.
Term insurance provides protection for a specified period (10, 20 or 30 years) and pays only the benefits if you die during the period. The policy will expire and the cover will end if you fly over your policy. An investment-cum-protection plan on the other hand offers you a lump sum on the completion of the duration of the police. These plans also offer protection, but coverage is generally not as high as proposed with futures plans.
7. Tax saving objectives:
You can save taxes with insurance policies, regardless of the plan you buy. The bonus that you pay on an insurance policy is eligible for a maximum tax benefit of RS 1.5 LAKH under Article 80c, and Death Tax-Free Product under Article 10 D ) of the Income Tax Act, 1961.