What comes first to your mind when you think about life Insurance plans? Life, Insurance or Investment? There’s often confusion in peoples mind about what exactly they are. Also, they keep swinging between to buy it or not. Here in this article, we will clarify all the doubts. In the end hopefully, you will understand how Life insurance plan can help in building wealth. With the right plan, you can gather funds good enough to leave the legacy. Before going ahead we need to have an understanding of what exactly are these Life Insurance Plans.
Life Insurance Plans :-
Life Insurance plans are not just investment but life cover as well. They serve a dual purpose of protecting risk of our life loss and giving benefits on maturity. Moreover, they serve many purposes too as follows.
- Assured Income on requirement
- Meeting major expenses such as child education ; marriage etc