What is Life Insurance?
Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period.
You pay premiums for a specific term and in return, Insurance company will provide you with a Life Cover. This Life Cover secures your loved ones’ future by paying a lump sum amount in case of an unfortunate event.
In some policies, you are paid an amount called Maturity Benefit at the end of the policy term.
Types of Life Insurance plans -
1. Pure Protection
- Offers life cover protection
- Affordable pure protection policy
- In case of unfortunate event during the policy term, life cover amount is paid to your family.
- Offers tax benefits.
2. Protection +Investment plan
- Offers life cover protection.
- Includes investment component thus create wealth.
- Offers tax benefit.
- In case of unfortunate event during the policy term, life cover amount is paid to your family.
4. Children & Retirement Plan
- Goal oriented investment plans.
- Provides financial protection.
- Offers tax benefit.
Benefits of Life insurance(
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Conclusion:
“ If I die, why do I need money?” You don’t- but your family needs it.
Life Insurance provides life cover. It provides financial protection to your family in absence of you.
With increasing cost, Its getting very difficult for the earning member of the family to meet ends financially. Think of a situation how your family would be financially jeopardized in your absence. The best thing you can do to your family members is to make sure they are financially protected in your absence.
Insurance can also be used to create wealth and long term investment planning; they are also tax efficient instrument.
You can get in touch with MERA fund expert investments for appropriately selecting suitable product for you.
Get in touch with us for appropriately selecting suitable life cover for you and provide suitable financial protection for your family in your absence