​LIC - LIFE INSURANCE

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​We often ignore idea of taking up Insurance thinking we don't require it. But a sudden accident or a mishap brings us to the realization that Life could end anytime for us without providing any hints or clues. What happens then? Our dependents besides being grief struck face a sea of liabilities like Rents, loans, EMI's, Child expenses etc. The flow of income is discontinued and there is no alternate source. We never imagine such worst case scenarios for us.

 

The “I don't need to buy life insurance” mindset must be shed as adversities can strike us anytime & at any age without any discrimination. Financial security and protection are what an individual longs for and life insurance is a perfect answer to that.

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There are very many advantages of availing life insurance:-

 

• Financial Security and Protection to family

• Life Risk Cover

• Return on Investment

• Tax Benefits

• Tax Free Returns

• Loan Facility

• Riders

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Here's a brief guide to different types of life insurance policies. Know the various life insurance plans to select the right one at the right time.

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Different Types of Life Insurance Policies:-

 

• Child’s Plan – For fulfilling your child’s life goals like education, marriage, etc.

• Retirement Plan - Plan your retirement and retire gracefully

• Endowment Plan – Insurance + Savings

• Money Back – Periodic returns with insurance cover

• Whole Life Insurance – Life coverage to the life assured for whole life

• Term Plan – pure risk cover

• Unit linked insurance plan (ULIP) – Insurance + Investment opportunity

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Verdict

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It goes without saying that life Insurance is an absolute necessity. It is a risk minimization and protection tool that must be purchased without any thought or choice. After all it is the question of a life that supports a considerable number of people. Hence, realize the significance of life insurance and compulsorily sign yourself up for it.

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