Are you Living a 24×7 lifestyle. But wait a second. Try to answer a simple question. Have you planned your life? The question may be small but it has big answers to it and also a lot of meaning is attached to it.
Surely when you sit down and analyze the whole scenario and even if you are a little bit aware you will also not require an expert to tell you that to safeguard your interests in a wholesome manner, you invariably require Life Insurance as a planning instrument without which your portfolio will always be incomplete and moreover meaningless. For your own best interest life insurance for you is something which should be on the top most priority. Why? This article will answer this question.
Insurance is a life planning instrument that provides the people with a valid degree of security and assurance of protection in the event of some mishap. Life insurance is an integral part of Insurance the other being the General Insurance which includes many areas such as mediclaim, fire insurance, motor insurance and others. Let us consider a scenario, to bring about the importance of Life Insurance in front of you.
Example: Why we should have Life Insurance?
Suppose that Mr. X is leading a good life style. He has family to look after and is running a successful enterprise. And suddenly he met with an accident. Inspite of the best efforts, the doctors could not save his life. He dies. Now what will happen to his family, his loved ones? He had a business and a legacy too. At this stage, you need the helping hand of insurance.
Mr. X was aware of his responsibilities and had made the right decision of insuring himself. He had taken Life Insurance. The Life Insurance Cover that Mr. X had taken will now provide the much needed financial support to the surviving dependents of Mr. X and cover their future living costs and other financial needs. Mrs. X would now be able to lead and maintain the living standard which she and her children were living during the times when Mr. X was alive. She can now fulfill her responsibilities towards her children and continue to provide them with good education. Mrs. X could also pay off any debts left over by his husband. She can save the money paid by the life insurance for future planning and other necessities. No Life insurance can bring back the person to live but provides the much needed financial protection in various ways to the family and thus can in a sense lessen the uncertainties of life.
Life Insurance has an up face also, meaning that it also helps to better plan your life for a happy future. With Life Insurance you can save intelligently without taking any risk of losing your hard earned money. Life Insurance guarantees a steady stream of monthly income as long as you are alive. If you save your retirement Savings through life insurance you can guarantee yourself a secured, happy and financially independent life after retirement.
So would you not now start planning your life with Life Insurance? Yes, if you want to give your family a financially secured future where they need not worry about the uncertainties of life, definitely plan your portfolio and include life insurance in it. And also for important life events and a happy retired life you need the vital support of Life Insurance. So think it over wisely. It is up to you as it is your life. Financial Planning is must in this fast paced globalized economy and security is of prime importance for you and your loved ones. Life Insurance surely gives you a better option.