Why do you need a Life Insurance cover – to give you returns over the years ahead or to cover your life in the unfortunate event of your demise? Experts vary in their opinions, so do the man on the street. With every Indian Life Insurance company heavily promoting their Unit Linked Insurance Plans (ULIP), which are a combination of investment and risk coverage, it isn’t wrong if a layman feels that a Life Insurance cover is mainly meant for generating inflation beating returns.
But is that all about a life cover?
Have you ever thought how your spouse will pay the EMIs on your outstanding home loan if you pass away tomorrow? Or for that matter, how your kids will complete their education in your absence? This is where the importance of a Life Insurance policy comes into play.
If your life is adequately covered, you can go about your days in peace that your family will never bear the burden of your loss financially.
Do you have the right cover?
Life Insurance experts say that for a young man, the Life Insurance cover should be ideally 10 times his Annual Income plus the liabilities (outstanding home loan, car loan and so on). Once you have decided your Life Insurance cover, what you need to do is to login to any of the portals of Life Insurance companies and check the Term Insurance premium calculator.
Term Insurance is the cheapest form of Insurance in India and covers only your life. In other words, a simple Term Insurance policy does not have a Maturity value. However, in case you wish to have decent returns on Maturity date, Life Insurance companies also sell Term Insurance policies which give you back the premium paid by you along with a reasonable interest.
Misfortunes can happen anytime. Check Term Insurance premium calculator today and get yourself covered. Don’t your near and dear ones matter to you?
But is that all about a life cover?
Have you ever thought how your spouse will pay the EMIs on your outstanding home loan if you pass away tomorrow? Or for that matter, how your kids will complete their education in your absence? This is where the importance of a Life Insurance policy comes into play.
If your life is adequately covered, you can go about your days in peace that your family will never bear the burden of your loss financially.
Do you have the right cover?
Life Insurance experts say that for a young man, the Life Insurance cover should be ideally 10 times his Annual Income plus the liabilities (outstanding home loan, car loan and so on). Once you have decided your Life Insurance cover, what you need to do is to login to any of the portals of Life Insurance companies and check the Term Insurance premium calculator.
Term Insurance is the cheapest form of Insurance in India and covers only your life. In other words, a simple Term Insurance policy does not have a Maturity value. However, in case you wish to have decent returns on Maturity date, Life Insurance companies also sell Term Insurance policies which give you back the premium paid by you along with a reasonable interest.
Misfortunes can happen anytime. Check Term Insurance premium calculator today and get yourself covered. Don’t your near and dear ones matter to you?
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