Are you aware of these myths surrounding life insurance policies?

Strangely enough, people may end up digging out a number of reasons for not taking up a life insurance policy. While some of them reason that they are not “old” enough to purchase a cover, there are others who simply opine that life insurance policies are a sheer “waste” of money. However, if you sit down to think deeply about it, you will only be able to understand that a properly selected life insurance scheme only serves as a well-thought- out financial decision owing to the fact that the financial security of your family depends on it.

Most of the fallacies (like the ones mentioned above) spring from the fact most of the individuals are not really interested in educating themselves about life insurance in general. It is very important to get rid of the “overwhelming” myths surrounding life insurance before purchasing a policy. So what exactly are these “myths”? Read on to find out!

The main objective of life insurance is saving tax

No! not at all…. There is no death of individuals who actually think that the basic function of life insurance coverage is to help you save up substantially on tax. However, tax savings are only an “added” advantage of securing an insurance policy. Its chief purpose is to protect your family during your absence and also to help you in establishing a substantial corpus for yourself to lead a comfortable retired life. In short, tax saving is only the secondary benefit— not the primary one.

Buying insurance is not necessary when you are single

There are some, who simply rule out the importance of life insurance from their lives owing to the fact that they are not single and do not have dependents. Needless to mention, it’s simply not advisable for you to think on those lines. If not for your dependents, you should consider investing in a life insurance policy to see through your own post retirement days without hassles. You, in fact, can opt for a money-back plan which offers you returns at regular intervals.

Insurance only offers post death benefits

Again…one of the overwhelming misconceptions surrounding insurance policies is that they offer benefits only after death. But that’s simply not true! By now (after coming across the post), you must already have gained an idea as to how an insurance policy can actually help you in your post retirement days. You can opt for an endowment term where you will be paid a lump sum after a fixed term.

You do not require an insurance cover because you are young

It is better, in fact, to consider an insurance plan when you are still young. It will help you fund crucial events of life like marriage, child birth, your child’s education, marriage etc.

Life insurance plans are costly

The cost of plan will vary according to your needs. Perhaps you should study your needs first and then zero in on a scheme which will meet your objectives. There are no written rules that insurance plans will be costly. Make sure you are comparing the rates offered by premium carriers in this regard.

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Are you aware of these myths surrounding life insurance policies?

Strangely enough, people may end up digging out a number of reasons for not taking up a life insurance policy. While some of them reason that they are not “old” enough to purchase a cover, there are others who simply opine that life insurance policies are a sheer “waste” of money. However, if you sit down to think deeply about it, you will only be able to understand that a properly selected life insurance scheme only serves as a well-thought- out financial decision owing to the fact that the financial security of your family depends on it.

Most of the fallacies (like the ones mentioned above) spring from the fact most of the individuals are not really interested in educating themselves about life insurance in general. It is very important to get rid of the “overwhelming” myths surrounding life insurance before purchasing a policy. So what exactly are these “myths”? Read on to find out!

The main objective of life insurance is saving tax

No! not at all…. There is no death of individuals who actually think that the basic function of life insurance coverage is to help you save up substantially on tax. However, tax savings are only an “added” advantage of securing an insurance policy. Its chief purpose is to protect your family during your absence and also to help you in establishing a substantial corpus for yourself to lead a comfortable retired life. In short, tax saving is only the secondary benefit— not the primary one.

Buying insurance is not necessary when you are single

There are some, who simply rule out the importance of life insurance from their lives owing to the fact that they are not single and do not have dependents. Needless to mention, it’s simply not advisable for you to think on those lines. If not for your dependents, you should consider investing in a life insurance policy to see through your own post retirement days without hassles. You, in fact, can opt for a money-back plan which offers you returns at regular intervals.

Insurance only offers post death benefits

Again…one of the overwhelming misconceptions surrounding insurance policies is that they offer benefits only after death. But that’s simply not true! By now (after coming across the post), you must already have gained an idea as to how an insurance policy can actually help you in your post retirement days. You can opt for an endowment term where you will be paid a lump sum after a fixed term.

You do not require an insurance cover because you are young

It is better, in fact, to consider an insurance plan when you are still young. It will help you fund crucial events of life like marriage, child birth, your child’s education, marriage etc.

Life insurance plans are costly

The cost of plan will vary according to your needs. Perhaps you should study your needs first and then zero in on a scheme which will meet your objectives. There are no written rules that insurance plans will be costly. Make sure you are comparing the rates offered by premium carriers in this regard.

1,867 Responses to Are you aware of these myths surrounding life insurance policies?
  1. although web sites we backlink to below are considerably not associated to ours, we really feel they may be truly worth a go via, so possess a look

  2. reebok product
    July 16, 2018 | 7:57 am

    I am continuously looking online for articles that can facilitate me. Thank you!

  3. asian cuisine
    July 16, 2018 | 8:04 am

    I am writing to let you be aware of of the impressive encounter my princess gained browsing the blog. She realized plenty of pieces, which include what it is like to possess a marvelous giving spirit to make other folks without hassle gain knowledge of a number of complicated matters. You truly did more than our desires. Thanks for delivering those good, dependable, revealing not to mention unique tips about that topic to Tanya.

  4. animal shelter
    July 16, 2018 | 8:06 am

    There is obviously a lot to realize about this. I believe you made some nice points in features also.

  5. animal adopt
    July 16, 2018 | 8:09 am

    Very nice post and right to the point. I don’t know if this is in fact the best place to ask but do you people have any ideea where to employ some professional writers? Thank you 🙂

  6. Enrique Bingler
    July 16, 2018 | 9:07 am

    If some one needswantsdesireswishes expert view regardingconcerningabouton the topic of bloggingblogging and site-buildingrunning a blog thenafter thatafterward i suggestproposeadviserecommend him/her to visitgo to seepay a visitpay a quick visit this blogweblogwebpagewebsiteweb site, Keep up the nicepleasantgoodfastidious jobwork.

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Trackbacks/Pingbacks
  1. china sourcing services
  2. china outsourcing agent
  3. how to replace clock dials
  4. china sourcing company
  5. chinese sourcing
  6. Clock kits and dials
  7. clocks for facilities
  8. innovation wireless systems
  9. wireless communication systems
  10. Clock kits and dials
Leave a Reply


Wanting to leave an <em>phasis on your comment?

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