Life Insurance for Different Stages of Life
PNB MetLife India 01-08-2016 01:10:56 PM
Life insurance is all about creating a responsible financial plan, which provides the security of meeting your financial responsibilities as well as protecting your family through thedifferentstages of life. Read More
Life insurance policies provide financial stability to a person in the event of passing away of their partner. The death benefits paid to the surviving partner can also provide for retirement or a child’s education.
- Becoming a parent:
A life insurance is vital for you as a parent to protect your family during tough times. But additionally, getting a Child Life Insurance helps plan your child’s future through unforeseen consequences
Life insurance can also cover your house loan amount to ensure your family can pay the loan in your absence. A term life insurance is also a great option to ease the pain of paying of mortgages.
- Protection for Business:
If you run your own business, you should definitely have life insurance to pays off any debts in the future and cover any unforeseen expenses in your business.
- Single life:
Life insurance allows you to change the beneficiaries in case of a divorce. If you have children from your marriage, you can opt to co-elect your child’s name as a beneficiary with your ex-spouse or go solo with a Child life insurance.
- Old age:
At this stage, it is essential to have a will or a trust for estate planning. But having a life insurance will help provide funds to pay estate taxes by eliminating or reducing them. Also life insurance gives you a lump-sum payment to protect your retirement.