Do you have members of your family who are dependent on you? Have you ever thought about, who would provide for your family if something were to happen to you? Purchasing a life insurance policy is the answer to all such questions.
The Safety of one’s family is of paramount importance for any individual. Everyone struggles hard in life to be able to provide a life of comfort for loved ones. In order to meet the various financial goals of the future, one needs to plan finances early in life. As long as you are alive and well, the needs of your family will be looked after without a hitch. However, the truth remains that life does not come with a guarantee. Life could take a turn for the worse without any warning. Leaving the future of your family members to chance, is a dangerous risk. As a responsible family member, it becomes your responsibility to make arrangements for the future of your family. Life insurance is a great investment that will safeguard the future of you family members even in your absence.
There was a time when taking up life insurance was expensive and provided limited benefits. In the present times, life insurance has become extremely affordable and convenient. By purchasing a Life insurance you can plan for the future of your family in a systematic manner. A life insurance policy will give you the much needed peace of mind to carry on with life without any worries. Here are some important reasons why, you must have life insurance:-
- Maintain the standard of living: – With a life insurance plan, you can ensure that your family members can maintain the current standard of living, even when you are not around. The pay outs provided by a life insurance will be enough to fulfil all the basic needs of the family.
- Repaying liabilities: – Being an earning individual you might have taken several loans to meet the financial requirement of your family. In the event of your untimely demise, the burden of such liabilities are passed on to your dependent family members. A life insurance policy will ease the burden of such liabilities for your family members.
- Save tax: – The premium payable towards life insurance policies are exempt from tax under the section 80C of the income tax act. The tax savings will help you save more income for the future.
The role of life insurance in an individual’s life is too important to be overlooked. In a life full of uncertainties, a life insurance policy guarantees financial security for your family when they need it the most.