Life Insurance

Life Insurance

Life Insurance is one the most important pillars of insurance planning. It provides financial security to your loved ones after you are not around to support them. Besides financial security, it provides you and your family with a back-up to deal with any unforeseen unfortunate events.

Why do you require insurance planning?

  • • To deal with loans and liabilities after a loss of an earning member.
  • • To cope up with financial needs in case of an absence of the support of an extended family; most modern nuclear families deal with this.
  • • To be prepared for life expectancy reducing diseases.

How Much Life Cover Should One Take?

Human Life Value is the utility tool to derive the answer for this question. HLV is the probable monetary value of the insured person or the total income the person is likely to earn during the remaining part of his/her working life. An ideal risk cover should include monthly expenditure multiplied by 100 plus outstanding liabilities.