If you do not want to buy a life insurance policy and want to know why life insurance is so important, then this article is for you. Read this article till the end to know how important a life insurance policy is for you.
We have already discussed in an article about what is life insurance. If you still want to know some more information about life insurance policies, be sure to read our other articles.
If you want to read this article in Hindi then click here.
Why is it necessary to take a Life Insurance Policy?
There is still hesitation regarding life insurance in our country India. Yes it is known that today there are more than 35 crore policy holders in LIC. But if we look at the population of India, it is very less. This means that right now people in India do not have enough life insurance.
Be aware of insurance. Inadequate life insurance is also a growing problem. As such, money is needed to keep one’s family happy or for essential items. With money you can fulfill the needs of your wife, children, mother, father etc.
God forbid if something untoward happens to you or death, how will your family run after it. Food, clothing, education, good life, all these things are necessary for your family even if you are not there. If you plan for life insurance, then all these things can be found with the help of life insurance.
Who will see our family? Who will see the child’s dreams, parents’ medicine and other expenses. There are many types of questions which we are going to talk about in today’s article. Why do you need a life insurance policy?
How important is a life insurance policy to you? Is life insurance right to protect your family? What is the reason for people to take a life insurance policy? Have you ever thought about life insurance, let us understand some such things today that how important life insurance is for you.
Should you also take a life insurance policy? If your answer is no! So why should you get life insurance? Let’s know.
Why should you buy a life insurance policy?
1. For the safety of the family.
If you are the only person in your family, who earn money to run the expenses of their household, children’s education, daughter’s marriage, parental care and other expenses. Then you should definitely take the cover of life insurance.
There is no one other than you to earn money, so you must take insurance. You are not doing your family much justice, because if you are not, your family will not be able to survive the financial crisis.
There is no trust in this life. No one knows when what will happen. You should take life insurance to protect your family before anything happens to you.
God forbid if you die due to some disease or accident then your family will come on the road.
Life insurance is the only option that can save you from all these woes. By taking life insurance, your family will be happy even when you are not there.
“You are nothing to the world, but to your family you are everything.”
Protect your family with the help of life insurance policy.
2. Which is financially dependent on you
If your family is financially dependent on you. If you are earning money. If you do job. If you do business. Whatever it is, if you are earning money then you must buy life insurance.
Such a person should first get life insurance. If both your spouse are in job then both of you should buy life insurance policy. If you have children, you can also take a life insurance policy in their name.
The most common reason to buy life insurance is to provide protection to the family against unforeseen events. By using the amount received as compensation from the life insurance policy, the expenses of the dependent member of the family can be met for the next several years.
After getting the sum insured, the expenses of the dependent members who are your children, spouse, old parents, all can easily be taken care of for many years.
There is a saying that…
“Until you are immortal, you need life insurance.”
Take life insurance as soon as possible and assure your family to lead a peaceful life.
3. Savings with life insurance.
We have already discussed that saving is very important to fight the bad times in future. But if we talk about life insurance, then there are many such schemes in LIC, in which along with insurance cover, it also saves money.
LIC has endowment plans, in which you not only provide insurance cover but also provide many other benefits. Such as – money saving, loan facility, surrender, maturity, death benefit, accidental death benefit, money back, income tax exemption etc.
When the term of the life insurance policy is completed, LIC transfer all the money along with the bonus to your bank account at maturity.
LIC’s insurance plans can fulfill many of your dreams. For example – money for daughter’s marriage, to give good education to the child, to send the child abroad, to take pension every month, to take increased amount at the time of retirement, to give financial security to the family, to collect money. To do for the house, to become the owner of increased money, marriage etc.
There are only LIC plans that can fulfill your every dream. Meet or contact an LIC agent today.
“Jab LIC Ka Ho Saath, Toh Fikkra Ki Chodo Baat..”
4. If you have debt or liability then take life insurance.
If you have taken a home loan, taken interest money, mortgaged your property and made some purchases by taking a loan. Then you must take a life insurance policy. In the event of your absence, the life cover amount will help repay that loan.
Along with this, a regular source of income will also be created. If something untoward happens to you, there will be no effect on your family. With the money of compensation, every problem will be solved.
If you have not taken a life insurance policy then the financial situation can get worse. It’s not too late in my opinion. Meet or contact any LIC agent.
Life insurance policy is not for you, it is for your family. Because after you there will be some people left in your family who need money to live in this world.
There is no guarantee of this life but full guarantee of life insurance is that life insurance policy will help your family in case of your absence.
5. Life insurance for exemption of Income Tax.
Do you know that a policy taken under life insurance can help you claim a maximum deduction of Rs 1.5 lakh? Under Section 80C of the Income Tax Act, you can save tax up to Rs 1.5 lakh.
Any bonus or amount (maturity) received under a life insurance policy will give you income tax exemption under section 10(10d) of the Income Tax Act.
If you are still paying tax then you can claim from life insurance policy. Today almost everyone is saving tax with life insurance.
The conclusion
These were the 5 reasons that tell you why you should buy a life insurance policy. If you have any questions related to life insurance, feel free to ask in the comments below.
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