About Life Insurance
Life insurance is what keeps your family safe and sound even when you are not around. Life insurance provides a protective financial cover for you and your loved ones.
Life insurance in its simplest form means being prepared financially, come what may. It ensures that your family and you receive financial support in case you are not able to bring in the much-needed income yourself (maybe due to an accident, retirement, or untimely demise).
The significance of having life insurance is to avail the “peace of mind” that it brings along. However, having an adequate amount of life insurance effectively sets your mind free.
Benefits of Life Insurance
Insurance provides risk coverage to the insured family in form of monetary compensation in lieu of premium paid.
This is because if someone were to meet with their demise, they know their family and loved ones will have a financial safety net.
Apart from life cover, these policies invest your premium in different investment classes to deliver superior risk-adjusted returns that beat inflation and grow your corpus.
The premiums paid offer tax deduction under Section 80C of the Income Tax Act.
The effect of inflation, even if it appears small in the short-term, can be massive over a few years.
Buy Young, Save More
Life insurance plans give you the ability to lock in low premium rates while you’re young.