Check-Up Your Financial Health at FREE of Cost
Each and every type of Life insurance caters a different set of demands and fulfil a different set of needs. Life insurance is one such instrument which can fulfil almost all the financial requirements of human life.
Income Replacement: Provides financial support to dependents (e.g., spouse, children) if the insured dies prematurely.
Debt Coverage: Helps cover outstanding debts such as mortgages, loans, or other financial obligations.
Estate Planning: Ensures heirs receive inheritance or liquidity to pay estate taxes.
Cost Factors of Life Insurance
Age and Health: Younger and healthier individuals typically pay lower premiums.
Coverage Amount: Higher coverage amounts result in higher premiums.
Type of Policy: Term policies are generally more affordable initially compared to whole life insurance.
Benefits of Life Insurance
Tax Benefits: Death benefits are typically paid income tax-free to beneficiaries.
Cash Value Growth: Whole life policies accumulate cash value over time, which can be accessed during the insured's lifetime.
Considerations:
Coverage Needs: Evaluate your financial obligations and future needs when determining the amount of coverage.
Policy Terms: Understand the terms, premiums, and conditions of the policy before purchasing.
Review Periodically: Periodically review your life insurance coverage to ensure it aligns with your current financial situation and needs.
CashRich Surojit is founded by Mr. Surojit Malakar, a proficient Investment Consultant with more than 2 decades of market experience on investment consulting service and portfolio management service.
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