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Life Insurance ? How You Should Choose One

When you plan your financial status the first thing that comes by is life insurance. In fact a lot of people think that life is for living and there is no need to plan for after death situations. Well, planning for situations such as death and hospitalisation is important too, especially the hospitalisation part.

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You surely would not want to become someone?s burden in case of acute disease in the lag end of your life, do you? A life insurance also helps to support your dependants in case of your sudden demise too.

Here are my reasons as to why you need to take up some kind of life insurance.

  1. 1. Lesser Investment For Safer Future

life Insurances protects your family in case you were to have a sudden illness or accident. You would have the contention that your family and people dependent on you would not be left in the streets in your absence.

Of course many term life insurance are actually very cheap, you would not even know you were spending on them.

  1. 2. Tax Savers

Many people take up life insurance just because they would save some money that would go as tax. But this should not be your sole aim while opting for a life insurance scheme. Make sure to take up policies that give maximum benefit to your family in your absence.

  1. 3. Do Not Wait Till You Get Old

It is not necessary that you must be in your late thirties or early forties to begin a life insurance, start young. This way you would be paying even lesser premium than when you start later.

You should also check the amount of premium and the benefits you might get after certain years say 30 years. Some policies would give you the matured amount after the said period. Thus when you start young you would also be able to spend the money yourself if you were living a healthy lifestyle.

  1. 4. Take Medical Insurance
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In this disease filled unpredictable world it is important that you save something for your own medical emergencies. Hospitals have begun becoming corporate run and medical bills go beyond lakhs. You thus have to have some kind of fund for your emergency needs.

Medical insurance would cover your such emergency needs and you might not have to go from hospital to hospital in search of better facilities at comparatively lesser price.(that too with some kind of trouble with your health)

  1. 5. Unit Linked Policies- the Better Investment

Unit Linked Policies are ones that require you to pay smaller premiums for the whole period of the policy. This is actually better than policies that require you to pay higher in the beginning and slowly decreasing with time.

Always check for the way your money would be invested when you opt for an insurance policy. Do not opt for any policy just because your friend or family is a agent and wants you to join in some policy. Go through the pros and cons of the policies available and choose one that would suit you.

Remember insurance policies are of many different kinds, one that suits your friend might not suit you. Thus be careful while choosing a policy for you.

Dr Menaka Bharathi
Dr Menaka Bharathi
Dr Menaka Bharathi aka Simple Indian Mom is an Agricultural Microbiologist and helps moms to keep their family and kids naturally healthy both mentally and physically.
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