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Five things that will convince you to buy life insurance policies

Life insurance policies are the first investment that anyone should make once they start earning. They’re not only a great way to secure your family’s future in the event of your demise but more importantly are a great savings tool as well.<br>

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Five things that will convince you to buy life insurance policies

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  1. Five things that will convince you to buy Life Insurance Policies

  2. Life insurance policies are the first investment that anyone should make once they start earning. • They’re not only a great way to secure your family’s future in the event of your demise but more importantly are a great savings tool as well. • By setting aside a fixed amount of money for your life insurance premium you ensure that the money is in a safe place and you can use it as you wish on the maturity of your policy.

  3. Primarily life insurance is a means to ensure that your family and loved ones are taken care of if something unfortunate were to happen to you. • A life insurance plan can be bought by anyone at any given point in life. • There is no specific age at which people should buy life insurance. • It’s a misconception that only married people need to have life insurance. • It’s a great way to save on Income Tax for unmarried people or people who are just starting off with their career.

  4. If you need a reason to purchase a life insurance policy for yourself, then here are five reason that will convince you of the same.

  5. Family Security

  6. The basic benefit of life insurance is supplementing the income of the family in case of death of the policy holder. • This is one of the main reasons why people buy term insurance. • It gives the feeling of security to the policy holder in case of the worst. • Term plans come at a low premium, but ensure a lump sum payment at the end of the term of your policy.

  7. Great way to Invest your Money

  8. Insurance plans are of many types. • There are some types of insurance policies that provide assured returns. • Unit linked insurance plans provide investment opportunities along with life cover. • In these plans a part of your premium goes to your life cover while the other part is invested in equity or debt.

  9. Loan Protection

  10. The right kind of life insurance gives your family relief from loan payments during the time of crisis. • If the policyholder has any loan payments pending after his demise, these policies will make sure that his/her family will not have to deal with them.

  11. Tax Benefit

  12. Any pay out you receive from a life insurance plan is completely tax free under section 80C of the Income Tax Act. • Even the payment towards the premium is exempted from tax.

  13. Saving tool for your Child’s Future

  14. Life insurance is a great savings tool. • The money you receive on maturity can be used to pay off loans, to fund your child’s education abroad or for their business endeavour. • Life insurance policies are the safest way to save your money. • By putting your money into a life insurance policy you ensure that your money goes nowhere.

  15. Thank You

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