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Showing posts from August, 2023

REASONS WHY WOMEN SHOULD PURCHASE LIFE INSURANCE

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  Introduction In today’s modern world, gender distinctions are starting to blur. Women are achieving success in all areas, which has led to more financial independence and freedom. Women in today’s society have also started taking up the role of. By sharing the cost of housing, mortgages, and children's education, they raise the standard of living for families. Moreover, they even help their retired parents with their finances. In addition to women who work, homemakers also contribute significantly to the economy. The cost of the family will increase if outside aid is required for childcare and household chores. Hence, it is important that the income and other invaluable contributions of women, such as yourself, be protected. Life insurance is one such financial instrument that can protect your family’s financial security and ensure stability in the event of any unfortunate event. That’s why women also need to be insured. However, as we can see, women own even less than 30% of...

The Most Common Term Insurance Myths Explained

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  Amit, who was 28 years old, met his friend Sumit, 35, who was married and had two children, by chance while on a work trip. Amit was constantly busy because his job required extensive traveling. That was one of the rare occasions when Amit got an opportunity after the conference to sit down and chat with his friend over coffee. As they sat together and talked, the conversation soon drifted to personal finances, when Amit mentioned that he had bought a term insurance plan at the very young age of 25. This startled Sumit, who had assumed Amit was too young to purchase insurance. It led to an interesting course of conversation. Sumit: I don't know much about term insurance, but I have heard of it. And how did you come to buy a term plan at the young age of 25? Isn’t that too soon to purchase life insurance at such a young age? Amit: Well, the sooner, the better when it comes to life insurance. The earlier you purchase a term plan, the less premium you will have to pay. The m...

HOW TO CHOOSE THE RIGHT HEALTH INSURANCE POLICY WITH ADEQUATE COVERAGE IN YOUR 30s?

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  What is Health Insurance? Health insurance, often known as medical insurance, is a financial protection instrument that covers unexpected medical, hospitalization, and surgical expenses. It provides financial support for compensating medical, hospitalization, and surgical expenses. Health concerns Don't wait till you're old to get sick, especially with today's lifestyle. Frequent hospitalization can make a big dent in the savings of even those who are as young as 30 years old. This could severely deplete their finances. In such situations, health insurance plays a crucial role. Moreover, if you buy health insurance at young age, you may afford high coverage at a lower premium. But there are a few important questions that often come to mind. But how much health insurance coverage do you need? What are the things to look at while buying health insurance when you are in your 30s? Buying a health insurance policy when you are young  Purchasing a health insurance pol...

KNOW YOUR HUMAN LIFE VALUE AND IT’S IMPORTANCE WHILE ASSESSING INSURANCE COVERAGE

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  Introduction The biggest concern for any breadwinner of the family is what will happen to his or her family in his or her absence due to any unfortunate event, such as death. Human Life Value (HLV) determines the monetary loss that one’s family will experience in the event of an unfortunate event that leads to your death. An HLV calculator may be used to estimate the economic worth of human life. Life is uncertain, and hence it is important for us to be prepared for the worst. Life insurance is an excellent financial instrument that can protect your family financially if any unfortunate event results in your death. Your life insurance policy takes over in your absence to financially secure your family. However, it is crucial to choose an appropriate life insurance policy to make sure that your family does not have to compromise on anything after you are gone. Your family can achieve their goals with the help of appropriate insurance coverage. This is why, while purchasing a...