Hide Notes 

Slide 1: Life insurance policy for future savings Life in general is filled with many traumas. However humans as such find several ways to compensate it and find happiness. But the end is always inevitable as we are all just mortals. Can any one of us ensure that we will surely live forever and in a healthy manner without even a single medical issue or history taking place? However though you cannot ensure about the inevitability and surprising events of life you can take a precautionary step by insuring your life. Insuring your lives makes it possible and easier to face such turnabout of unexpected events. The policy is not just for stabilizing your family and the dependant ones once you are gone, but in general falling sick is quite common and these events take place without any notification, and when it happens we should have a backing in the form of savings to face the financial obstacles put in front of us. The thought of getting one while you are at your prime may sound pessimistic and unpleasant while most of us are just trying to carve a slice of happiness every now and then. Insurance could be a burden until we need it with at most necessity. Before you decide upon the options, you need to answer 4 questions for yourself. • • • • • Do you need Life Insurance? How much of the Insurance policy you need? What type of policy suits your needs better? What are the types of insurance you can avoid? Where should you avail for the policy? Solution for Question 1: Do you have a family or dependant ones who might probably get affected with your loss of your income? Would they be able to sustain life with normal day to day facilities? Most families won’t perceive the value of life insurance until they have children. Can you cater his educational and other needs when you are gone? Since death is unexpected and so does other medical issues, you can never answer these questions with confidence. Solution for Question 2: Right now you have a standard income upon which your loved ones depend heavily. You might also have loans and other debts to be paid with interest over a long period of time. Thus the policy you cater should suffice the same requirements once you are gone if not more. Solution for Question 3: All policies have their own benefits and drawbacks. However the premium you pay should be manageable over a long period. The longer you wait and when you
Slide 2: develop more health issues the premium rates go higher and policy itself in general becomes expensive. Try to apply for it at the earliest Solution for Question 4: Avoid mortgage life policies offered by lender banks. They have a very high pricing and do not provide enough return to justify its cost. Solution for Question 5: Do a thorough research work before you apply. Check for the company’s reputation and credentials. You have websites which rate these companies. Talk to a certified financial planner. Talk to friends who already have these policies. Source: http://www.forhealthplans.com