Benefits Of Life Insurance

Benefits of Life Insurance

1. Life Insurance Can Provide Your Family With Some Financial Protection.

Life insurance policies can help you in hedging the risk of financial distress faced by your loved ones, by providing a lump sum payout if you pass away. You can be assured that if you have an active policy at the time of death, the benefits of this policy can be passed on to your loved ones nominated.

2. It’s (probably) less expensive than you think.

A majority of the population thinks that life insurance is an expensive proposition, which it actually is not. The benefit of unit-linked life insurance policies is that you get to enjoy both insurance and investment benefits under one umbrella. The premiums you pay are utilized in the policy where units are allocated under the fund opted based on your risk appetite. The premiums paid during the policy’s life are invested timely and the cash value generated is generally higher than the paid premium (depending on the type of plan opted).