Why Life Insurance is necessary?

If we list down our priorities among family , career friends etc. , I am very sure that most of us would rate family at the top priority. We work hard for them , we earn money for them , we take care of them , we often do our best in our capability to make them happy and comfortable . However , sometimes we ignore a very important thing in life - LIFE INSURANCE . Death is the ultimate truth of life. All of us are going to die one day but when and how nobody knows. Whether we want or not , we will have to leave our parents , spouse , children on their own. We cannot even ask for one day delay :)

 The least we can do for our family is to get our life insurance done. So that in case of our untimely demise , our family is at least financially secure. Many of us are often not from the finance industry and are normally not aware about insurance in detail. Its our duty to acquaint ourselves with the basics of insurance .To know more about insurance , check out this video :

So , to sum up why insurance is necessary , read on :


1. Single source of income : If you are the lone person in your family  who is earning, the financial dependency on you is huge. If you are no more, it becomes a major problem for your family. So, insurance in such cases comes as a aid to the family.

2. Pending Loan : Suppose you have taken a personal or home loan , in such a case if you die an untimely death , repaying such loan will be a burden for life for your family. Insurance will help in repayment of loan.

3.Investment option : Nowadays , Insurance policies come as an investment option as well in the form of endowment plans or money back plans. So it can be a good way to invest your money as well.

4. Tax benefits: Governments worldwide encourage people to get life insurance. So ,the premium against your insurance is free from taxes.

In India , there are different insurance  policies offered by different private and public sector entities like LIC , ICICI , HDFC , Bajaj Alliance , Apollo. By far LIC is the most trusted public sector company offering insurance and it holds the major chunk of market share.

To know more about policies offered by LIC , click here :www.licinsuranceindia.in