Why do you need life insurance? It carries a big financial plus. Life insurance allows you to provide for your loved ones if something happens to you, to save up for retirement or some large purchases. Or to guarantee yourself a decent standard of living even in the event of a disability or loss of working capacity.
Life insurance is an important step, because in youth and while health is good, people rarely think about old age, illness and what will happen in this case. And life insurance makes it possible to smooth out unpleasant situations and create financial protection.
What are the benefits of life insurance?
- Financial safety cushion;
- Ability to appoint a specific recipient of payments;
- No taxes on insurance payments;
- Inability to withdraw insurance policies as property;
Life insurance is considered outdated and often underestimated. In fact, they are one of the best opportunities to ensure economic security for the future.
The concept of “life insurance” includes policies that insure risks such as death and disability. Life insurance services in India can cover several needs at the same time. For young adults, for example, it’s a good idea protect yourself against earning disability, and your family from financial crisis.
Which life insurance is the right one?
The answer to this question is not unique and depends on many factors, for example whether you live alone or have a family, because different personal situations in turn require different solutions.
We recommend that you speak to your life insurance services provider to find out what your financial situation would be in the event of disability, how your family is protected in the event of death and whether your retirement provision has gaps. This way you will know immediately and with certainty what type of life insurance you need.
Life insurance protects your loved ones and ensures that you maintain your usual standard of living.
Even if life insurance has slightly lost its splendor following successive reforms, it remains the preferred investment of people.
In addition to its privileged tax framework, it remains a flexible and flexible savings product. Despite this, it is legitimate to wonder if life insurance is still really profitable, and if so, how to maximize its chances of winning? What can we expect from this investment in 2022?
The profitability of your life insurance will depend on several factors, and first and foremost on the media on which your capital is invested.
Depending on your risk profile (or investor profile), you can choose to invest all or part of your capital in a secure fund guaranteed by insurance service providers in India chosen by you, or seek higher profitability by placing a fraction on riskier products, like commodity trading in India, Initial public offering, currency derivatives in India, etc.with more interesting potential for gains.
Life insurance to transmit capital
In addition, this is the other interest of life insurance, you can transmit a capital on your death to one or more beneficiary (ies) under conditions, again, advantageous in terms of taxation.
One thing you should know is that the capital that you will have built up on your life insurance, as well as the products generated, may not be included in the estate upon your death.