1.Income replacement: Proceeds from a life insurance policy can step in to pay the bills when income from the insured is lost due to death.
2. Burial and other final expenses: The death of a loved one is hard enough without having to worry about your funeral costs, which can be well over $10,000..
3.Mortgage protection: A family may lose their home if a life insurance death benefit is not available to help pay the mortgage..
4.Lock in a low premium at a young age: Over time, as people age, premiums increase. The best time for you to buy life insurance is today..
5. Transfer wealth to family: You can leave more money to your family with a life insurance policy as part of your estate.
6.A tax-advantaged way to build cash value: You can realize tax advantages by utilizing policies that build cash value.
7.Provide funds for college education: College is expensive. Life insurance proceeds can help ensure that college loans are paid even if you aren't there to help.
8.Meet evolving needs with a variety of product options: Needs change over a lifetime. You may want to look for a different type of policy or lower premiums to suit new life circumstances.
9.Supplement employer provided life insurance policy: Employer provided life insurance alone may not be adequate to cover your family's financial needs..
10.Pay estate taxes and create estate liquidity: when an estate is inherited, certain taxes must be paid. Life insurance may step in to cover your estate costs..
Safe and profitable long-term investment - Life Insurance is a highly regulated sector. IRDA of India, the regulatory body, through various rules and regulations ensures that the safety of the policyholder's money is the primary responsibility of all stakeholders. Life Insurance being a long-term savings instrument, also ensures that the life insurers focus on returns over a long-term and do not take risky investment decisions for short term gains.
Protection against rising health expenses - Life Insurers through riders or stand-alone health insurance plans offer the benefits of protection against critical diseases and hospitalization expenses. This benefit has assumed critical importance given the increasing incidence of lifestyle diseases and escalating medical costs..
3. Builds the habit of thrift - Life Insurance is a long-term contract where as policyholder, you have to pay a fixed amount at a defined periodicity. This builds the habit of long-term savings. Regular savings over a long period ensures that a decent corpus is built to meet financial needs at various life stages.
Auto insurance provides property, liability and medical coverage.
Protect your home inside and out with a homeowner’s insurance policy from our company.
Life insurance can help provide for the people who depend on you financially, if you can't be there for them.,