Why is life insurance important ???
Today’s article is for those who want to get an idea of why life insurance is important. We hear about various types of insurance such as home insurance, car insurance, health insurance, various other types of property insurance. Among them, life insurance is a type of insurance.
The first question is why do we do life insurance? Yes, it is very important to know, because if you do not know the reason for doing something, the desire to do so is reduced. So today I will tell you those reasons. Let us first know first through some brief points.
The reasons for doing life insurance are:
1. If you do not survive.
2. Helps to pay off your debts.
3. Assist with your medical expenses.
4. A worry-free future.
5. Tax free
. Good help in achieving goals.
. Money is helpful after retirement from the job.
Now we will know a little detail of the above points. Here’s how life insurance can help us.
If you do not survive
Life and death are in the hands of the Almighty. No one can say when he will die. But the death of one earning member of a family can destroy the whole family. If the man here had life insurance before his death, his family could at least get out of the shock at the beginning.
In the case of life insurance, if the person dies before the expiry of his policy, his family will get the full amount of money they would have received if the policy had been fulfilled.
Helps to pay off your debts
You certainly don’t want your family to get into trouble because of the debt you incur after your death. When the family gets the money for life insurance that you have done, you will be able to repay the loans with it.
Assist with your medical expenses
In our country, various life insurance companies help the policy customer in various ways to cover the medical expenses. Of course in these cases there are different conditions. However, if the conditions of the insurance companies are met, the customer gets a certain amount of financial assistance.
A worry-free future
Life insurance can also help keep you pretty worry-free. As I said before, there is no way to tell when human death is imminent. You must also be worried about what will happen to your family if something happens to you. You can take out life insurance to protect yourself and your family.
In case of life insurance, you can also be free from some taxes. The money that you deposit as insurance premium every year is completely tax free. So you can stay tax free here.
Good help in achieving goals
If your earnings are low then it will be much more difficult to achieve any big goal from your earnings. But you can do this very easily by getting insurance. Because the money you have deposited will become quite large after a certain period of time. And once you get all the money together, you can use it to achieve any of your big goals.
Money is helpful after retirement from the job.
You may not be eligible for a government job or a job that will pay off after your retirement. In this case insurance can be a very good medium from which you will get some money after retirement. So it can be said that insurance works like pension here.