Importance Of Life Insurance
Life Insurance is a product which secure our life.
As per IRDA ( Insurance Regulatory Authority of India) out of 100 crore people only 13% people are insured but we have more than 20Life Insurance companies and every body is claiming that they are India's No-1 Insurance company.
They have sold highest number of Insurance policy, but Most of people do not know that some people are having 5-10 number of Insurance policy .It is not because they want or they have bought on their own it is just because of push selling and reference selling.
If we calculate the real use of it then it will give zero result.
Not exactly zero But this does not give any good return when man dies to his family or if that person live also.
This is just because of the Insurance agents.
They do not calculate the Human life value and suggest any of the Insurance plan.
The thumb rule says that A person need an Insurance of worth: His annual Income *20
Suppose a person is earning Rs150000 per annum then he should be insured worth Rs150000*20=Rs30lakh.
Now every body must be thinking to take a Rs30 lakh insurance coverage how much premium he has to give.
Its only Rs120000 per year.
which comes rs1000 per month only.
Take a Term insurance from any Life insurance company pay rs12000-Rs14000 ( vary from company to company)
be assured if something happens to you then your family will be getting Rs30lakh
I think this is worth instead of taking any other plans like ULIP ( unit linked insurance plan), or any endowment plan.
Most Important things Insurance is not for an Investment.
If you want to Invest money here you are making fool your self.
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