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    LONG TERM SAVINGS

    Life Insurance for Singles - Here’s Why Insurance is Important! - PNB MetLife

    Last Updated On 23-10-2018

    Living the single life? Here’s why insurance is important!

    As a single person, you probably have a long list of items on which you spend your hard-earned money. However, you should also look at putting some of your salary away for emergencies. The question is, where?

    Should single people buy life insurance?

    Some people view life insurance being solely for married people or those with children. But did you know that life insurance plans can enable you to build a corpus, provide for your dependents and even help you to avail tax benefits? In fact, if you’re a single person, a life insurance plan could be the smartest way for you to invest your money.

    4 great reasons why life insurance plans work for single people:

    1. Repayment of loans
      It would be a good idea to invest in a life insurance plan if you’re going abroad for your studies and have taken a student loan. This can save your loved ones a great deal of hardship if something unforeseen should happen to you during your studies. A good life insurance plan can ensure that no one is burdened with the repayment of your student loan.
      As for a business loan; we often hear that a business shuts down with the demise of one partner as the other partner was burdened with debt. A life insurance plan can help the business stay afloat financially in such a scenario.
    2. For your dependents
      If you are single and taking care of your parents, siblings or even your own children as a single parent; then a life insurance plan becomes a vital necessity as it provides for your dependents in case of your untimely death. The loss of your income would be replaced by a good term plan and your family would be secure.
    3. You don’t intend to stay single forever
      If you intend to get married and start a family in the future then getting insured while you are single is the best gift to give yourself before starting the new chapter. With marriage and children come greater responsibilities. To raise a child especially requires judicious planning and investing. Every milestone needs a certain amount of money. A life insurance policy offers just the support you need at every step. You could build your corpus with a variety of funds such as Term Plans, Endowment Plans and others. Don’t wait till the last minute, start building your corpus with a variety of funds and get financially secured before you take the next step.
    4. Age is on your side
      All life insurance companies take health and risk of death into consideration when calculating the premium. Young people are generally healthier and the risk of death is far lower. So, you can buy life insurance plans at a lower premium and get a higher maturity amount as this fixed premium gets locked throughout the policy tenure.

    To know more about Term Insurance browse the website for various Term Plans offered by PNB MetLife

    Disclaimer:

    The aforesaid article presents the view or an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ before making any decision.

    PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
    IRDAI Registration Number 117. CI No: U66010KA2001PLC028883. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.
    The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969.. Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203

    EC310 LD/2019-20/321

    BEWARE OF SPURIOUS/FRAUD PHONE CALLS!
    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

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    Disclaimer

    Collapsed Expanded

    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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