Five reasons to buy a Life Insurance

Insurance sector significantly contributes to the financial growth of India. It has been a major cause for the tremendous development of the Indian economy over the past one decades. The growth has been phenomenal, with a large number of people purchasing the policy to secure themselves financially.

There are a number of private and government-led insurance companies in India that provide financial cover to people in cases of different eventualities such as death, disablement, or an accident. As human life is subjected to several risks on a day-to-day basis, insurance policies have come to life to safeguard people’s interests and provide financial security in times of economic crisis.

Life Insurance Policy is the best way to protect your family in such turbulent times. It provides financial cover to you and your family. It is a contract between the insured and insurance company, wherein the insurer provides a lump-sum payment to the beneficiaries in case of the death of the insured.

This policy is availed by the insured depending on his needs and plans.

For people who don’t know why to buy life insurance, here are top five reasons you should avail this policy now.

a) Takes care of your family: In the unfortunate event of your demise, your family is secured financially. Life insurance provides for meeting your responsibilities even after your death.

b) Takes care of your child’s future: Secures your child future even when you meet with a sudden accident or death.

c) Provides peace of mind: The policy provides peace of mind not only to the insured but also to the whole family. Future is unpredictable, hence this policy is helpful during financial emergency.

d) Helpful during retirement: Even while you retire, you need money to fulfil your daily needs. Hence, if you avail for pension plan you get money.

e) Home mortgage: The policy provides for mortgage protection against your home.

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