Make a habit of investing your part of income for your life  and become a role model in the family circle to follow you.

lifeinsurance

Life is not held by any individual. Immortality rate may be high, but death rate is also high. But once an individual is landed on this universe, he has to think about his personal growth. In a broad way when we look in the family angle, Life insurance is a protection for the whole family. It also covers sometimes to pay off debts and other expenses, helps in accumulating wealth and can leave it as an inheritance. When the policy holder survives till the maturity of the life insurance policy he can reap the benefits of his policy. Sometimes policy can be useful for child education, acquiring a home, daughter’s marriage, etc. Last but not least once started investing part of income for life it gives  peace of mind to the individual / family as a whole.

Basically life insurance provides financial security in the event of death, besides that it is very resourceful when an individual got incapacitated to earn due to physical disabilities.

The cost of insurance for life depends on age, income and health of an individual.

Keep in mind that  it is not mandatory to take a life insurance. Therefore, ensure that it is a part of saving  for future benefit and invest. Take advantage of nomination facility.  Nomination can be made by a  policy holder who is a major and the life is  insured under a policy. The Nominee can claim the amount in the event of death of the Policy holder.

So, the Tip goes here, an individual or a family head should strictly adhere to invest  for life policy at an early stage ( as earning member ), so that the premium will be very reasonable and also the returns will be high including bonus and other benefits at maturity of the premium.

 

1 thought on “Make a habit of investing your part of income for your life  and become a role model in the family circle to follow you.”

  1. Having insurance should be a must. However, there are companies in our countries who have closed down because of not knowing how to handle their funds. And sometimes, it is impossible to set aside money from our work when we get just enough for the needs of the family.

    Reply

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