why life insurance
Most of people understand the primary benefits of having life insurance is your family get money when you die unexpectedly ,while those benefits are true for all kind of insurance ,there are many more benefits depending on specification and plan he have taken.
Many more benefits of having life insurance
All life insurance can give you financial confidence that your family will have financial stability in your absence but are many types of plan ,such as term plan ,money back plan ,retirement plan ,saving plan ,unit link plans and many more.
How to get more benifits and value when you are buying life insurance
Generally ,the most cost effective way to buy life insurance is to do it younger age ,where life insurance company give younger age customers lower rate for reasons that are easy to understand
Life insurance policy plans
Term plan – Every one know about term plan ,term plan is very important, every one should have it ,we pay some premium amount to life insurance company against that company give risk cove for life or limited period.
unit link plans – unit link plan is very fast selling product ,where you pay premium for limited period or long term ,we can withdraw any time after five years ,here you invest in market and get benefits up and down of market ,in this customer keep his investment for long term definitely he good return on his investment.
Retirement plans – why retirement plan important ,whole life we thinks of our family ,child education etc,but we dont think of retirement we dont think that now we are getting monthly income but when this income stop he have to depends on his children so retirement plan is important ,where you pay lumsum or regular premium for limited period and get pension for whole life and also get back his invested amount back as a legacy.
Saving plans – saving plan are just like fixed deposit what we do in bank where we get fixed interest just like that saving plan work we pay for limited period and get guaranteed maturity amount.
Life insurance company in India -There are 24 life insurance companies in India which work under IRDA ,all life insurance company work under IRDA all company have to regulation of IRDA.