So you are happy that your college is over and now you are about to start your first job! Well, this is a moment to be proud ofyou. You have earned the education and now you will make money and buy things, which you have always wanted in your life. However, with this happiness, you have to think about your future as well especially when it comes to life insurance policy.
Most of the students who enter the real world often do not think about investing money from the very first salary cheque. It is important that while you are enjoying your life, you should work on making the future for you and for your family safer. You might want to leave the life insurance policy for some other month, but we would like to suggest some basic reasons why you should enroll yourself today.
It is going to be a lifelong investment
Once you have invested in lifeinsurance plans with the very first salary cheque, you have defined your investment and saving portfolio for the rest of your life. It is very important for many reasons.
You need to understand how the insurance works. The charges go higher as you get older. That means if you are investing in an insurance policy at an early age, you will get good returns and assured sum at a much affordable price. You can buylife insurance online in India as well.
You never know what is there in the future. You may get sick or need medical attention. Or because of some unforeseen circumstances, your family is left behind without you who might be the only earning hand in the family. In such cases, the life insurance policy ensures that the family has a regular income or at least a collective amount, which can serve their needs.
The best part of buying the life insurance in India at an early age is that most of the insurance plans do not change their premium amount with time. If you live a long and happy life and never get to encash the benefits, you may end up paying the same premium even after decades.
You can borrow money against the policy
Your insurance policy is not just an investment for the world after you are gone. It is also a safe deposit box, which can help you ona rainy day. There are many insurance policies, which allow the policyholder to get a loan against it. In most of the cases, the policyholder can take up to 70 to 80 percent of the amount he or she has deposited for the life insurance plan so far.
Though the life insurance policy seems a very small investment and most of us often choose not to take it in the early years, in the longer run, the life insurance policies serve greatly in life. These policies not only come in handy in case of your death and provide much needed financial support to your family but they …