Saturday, 10 February 2018

Why we don’t have to ignore Life Insurance during Financial Planning !!

A financial planning not only helps to provide adequate resources for your current needs but also helps to save enough to meet the future financial goals of your family.A financial planning is to ensure that the lifestyle and life stage goals of you and your Loved ones are fulfilled. Life Insurance is often purchased more from either an investment / tax savings perspective rather than its true purpose of protection.

It is our primary responsibility to safeguard the future of our families in case something was happen to us. Without a Life Insurance policy, If the breadwinner is not around anymore wealth creation plans will remain incomplete. Hence, before anything else happen, it is critical to determine your Life Insurance need for the sake of your family.

Life Insurance is not just about protecting Loved ones from the risk of financial stress due to the breadwinner dying too early. It also plays an important role in building of amount to meet various life stage needs through disciplined savings. To meet the dual purpose of savings and long term protection, there are many efficient endowment plans which provide life cover, create long term wealth, provide financial support to enjoy peace of mind as well as prove to be an effective tax-saving instrument.

While looking to purchase a life insurance policy, bear in mind that the insurance plan you choose should ideally offer a combination of adequate protection from risk while ensuring that your family’s financial liabilities are met without causing additional financial burden and that the continuity of the lifestyle that they enjoy is maintained. We must realize that life insurance is uniquely different from all other financial products because it has the protection of your financial interests as its core proposition and thus should be the foundation of everyone’s financial plan.

For More Details Visit: LifeLine Insurance & Financial Expert

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