Life Insurance

We always want the best for our family and life is full of uncertainties. There is an ‘IF’ in ‘LIFE’. Hence planning for the contingencies and taking concrete steps to secure our family’s future is of utmost importance. For there is no way to ascertain as to when one might lose the ability to provide for them due to a disability or the sudden loss of life. Insurance Planning is one of the most important pillars of Financial Planning. This is because
Life Insurance is the only tool which can fulfill financial commitments in case of untimely death of the bread earner of the family. Thus having an appropriate life cover is important.


Why Insurance Planning is required?

Increasing liabilities:
People today prefer to take loans to fulfill their needs, instead of waiting to save for the future. Hence, in your absence, your family needs to take care of this loan.

Nuclear family structure:
Earlier, people could depend on their extended joint family system to take care of their near and dear ones in case of their absence. However, the share of families with more than 5 members has come down from 64% in 1990 to 56% in 2005 and is expected to decrease further.

Increasing lifestyle diseases:
People these days are prone to many diseases as a result of which the longevity of life is also reduced. Thus it gets important to take an appropriate risk cover and give your family a financially secure future.

Loans & Liabilities:
Insurance policy also helps to cover up one's loans and liabilities. The house one buys for our shelter, we would never want to let it go. Thus an insurance policy can help one to cover the loan liabilities.