Life Insurance & Benefits of Life Insurance

Life insurance in your life cannot be overstated. It helps you and your family get financially secure. There are many benefits of life insurance other than providing financial protection. It can help you in achieving different goals throughout your life as well.

Benefits of Life Insurance:

Death Benefits

Life insurance allows people to protect themselves and their families, in case any unfortunate event happens in the life of the insured. The insurer pays an amount equal to the sum insured as specified in the contract. This is called death benefit.

Wealth Creation via Investments

A few life insurance policies offer wealth-building benefits. In such a life insurance plan, you can invest your money in different funds depending on your risk appetite. These life insurance plans are good wealth builders in the long run.

Financial Security

The main importance of a life insurance policy is that it provides long-term financial security to your family. A life insurance policy provides a lump sum to support your family financially in case of sudden death

Benefits of Life Insurance

Loan Option

Low-cost loan collateral is one of the significant benefits of life insurance plans. You can use your life insurance policy with the investment part as collateral for a loan. Life insurance plans like guaranteed savings plans, money back plans and life insurance policies acquire cash value over time. You can borrow loans at low interest rates against this cash value.

Life Stage Planning

The importance of life insurance grows as you progress through your life stages. Life stages refer to multiple major milestones like marriage, childbirth, home purchase, retirement, etc. You can use life insurance plans to prepare for each of these life stages.


Blog: Importance of Life Insurance

Website: Shriram Wealth Architecture

Location: India

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