Building Financial Freedom - One Step at a Time
PNB MetLife 04-03-2016 03:35:16 PM
Financial planning for a secured tomorrow seems like a dreadful task to most of us. Once we start a family, all our life and financial goals are directed towards fulfilling the dreams and aspirations of our loved ones. Be it a second honeymoon with your wife, a retirement house for parents or self, higher education for children, etc., we want to ensure we’ve saved enough.
Whenever listing down the financial assets on the balance sheet, we tend to immediately think of our house, retirement funds, financial investments, vehicles, etc. However, another essential element that contributes towards your financial freedom is your Life Insurance.
Life Insurance policies help you safeguard your family from the uncertainties of life. In case of your untimely demise or critical illness, life insurance goes a long way in ensuing your family’s financial independence.
It becomes all the more critical for you to be insured if you’re the chief earner in your family. Irrespective of how much you’ve saved or invested over the years, sudden unfortunate events always affect your family financial, apart from the huge emotional loss.
HOW DOES LIFE INSURANCE HELP YOU ATTAIN FINANCIAL FREEDOM?
Access to Cash:
Once the premiums are accumulated, you can access your life insurance cash value through policy loan or withdrawals, for family opportunities, education, emergencies, etc.
It also offers a financial fall-back whenever required. The death benefit of a life insurance policy can also provide surviving family members with financial assistance that they may need to life a comfortable life and achieve their goals.
Consistent, Safe Accumulation:
The cash value of your life insurance policy is guaranteed. Meaning, you will always be able to access the assets you’ve accumulated.
Long-term Financial Security:
Once you have paid your premiums on time over decades, you can access those funds in multiple ways. You can cash in the policy for a guaranteed lifetime income, continue the policy to protect your family or access some of the cash value.