You need Life Insurance because typically the need for income continues for those who are financially dependent on you. Life insurance can help you safeguard the financial needs of your family.
This need has become even more important due to steady disintegration of the prevalent joint family system, and emergence of nuclear families. The need to protect your family’s ever growing needs is why you need Life Insurance.
You need life insurance for protection of the people you love, making sure that your family has a means to look after itself in case of any unforeseen events. It is a thoughtful business concept designed to protect the economic value of a human life for the benefit of those financially dependent on him. That’s a good reason
Life insurance makes sure that you have regular income after you retire and also helps you maintain your standard of living. It can ensure that your post-retirement years are spent in peace and comfort.
Savings and Investments
Insurance is a means to Save and Invest. Your periodic premiums are like Savings and you are assured of a lump sum amount on maturity. A policy can come in really handy at the time of your child’s education or marriage! Besides, it can be used as supplemental retirement income!