"Do you need life insurance?"
If you have dependants and financial responsibilities towards them, then
you certainly need insurance. Having a family means dependants, which,
in turn means financial commitments. Financial commitments come in the
form of loans, children's education, medical expenses etc.
Imagine what would happen if you were to lose your life suddenly or
become disabled and cannot earn. . Being insured in a situation like
this is a necessity. When you insure your life, in effect what you are
doing is insuring your earning capacity.
This guarantees that your dependants will be able to continue living
without financial hardships even in case of your demise.
Most insurance plans available today come with a savings element built
into it. These policies help you plan not only for protection against
death but also for a financially independent future, which would enable
you to have a comfortable retirement.
"How much does life insurance cost?"
In order to buy a life insurance policy, you must pay premiums to the
life insurance company. The amount of premiums payable depends upon the
type of policy, term of policy contract, sum assured and your age. You
could pay these premiums monthly/ half-yearly/ annually/ or as a single
premiums.
Your quotes could be
cheaper than you think!