There were times when people were thinking whether Life Insurance is a must. Life Insurance was preferred for Tax Exemption (Sec 80 C) and also for Home Loan security. Later Banks started covering the life’s of Borrowers to protect the Loan, this business is called as Group Credit Life. Many employers started covering their employees under Group Life Insurance for their Employees. Now every family needs protection and they are aware of the importance of Life Insurance.
Life Insurance - for = Life Cycle management
In Life Cycle Management you need Insurance Advisor, who is a professional and knowledgeable in Financial world.
- Child : When a Child is born - Parents plan for their Higher Education and marriage. We have a plan.
- Employed - Long term investment and protection offered by Life Insurance.
- Married - Newly wed - Joint Life Insurance & protection covers offers peace of mind for the spouse.
- Married & Children - Additional responsibilities and time to review the protection required.
- For Children - additional covers for Higher Education and Marriage expenses.
- Married & grown up children - Is it Time to think about Retirement?. Retirement planning to start early at the time of starting a job. And not very late after
- children settles. This is old thinking or with out plan.
- Just Before Retirement : Safe Investments for Happy Long term retirement.
- Retired : Parking the Retirement funds is challenging. You need funds for another 25 years or 30 years.
Key Steps for Life Insurance planning :
Start Early - Saving and Investments are two different functions. Life Insurance protection is something we give to our family. Do it wisely and do it as early as possible.
- Automate : Life Insurance gives ample opportunity for automatic savings for Long term.
- Parents : It is our duty towards parents and we need to secure their future
- Spouse : It is everyone is prime duty to have Life Insurance, if they are the bread winners for the family.
Family to continue enjoying the same life standards in the absence of the bread winner.
- Tax benefit : Government gives incentive for saving through Life Insurance products. Enjoy the benefits.
- Start Early and continue to Investment and also have protection.