Saturday 4th of February 2023

Why Do I Need Insurance?

The Real Need of Insurance

With everyone trying to live life at present to the fullest, not many see the need to think of tomorrow. Having a safety net is always helpful as life is unpredictable and full of risks. What have you got to help you soar back to normalcy if something went wrong? Here is when insurance comes to your rescue. We’ve even got reasons to say so! As an individual, you might be facing challenges of daily life, and there are the bigger ones. Read further to find out what problems a correct insurance cover can solve:

1. I Want To Leave A Legacy Behind

A recent study revealed that 69% of retirees from around the world plan to leave an inheritance and about 86% of retirees in India are expected to future proof their families with some legacy. Creating an inheritance for your heirs is something that will speak of your love and responsibility even if you have no other assets to pass on. With suitable Term Plans and Annuity Plans from insurers like ICICI, Kotak, or SBI, you can create a solid financial security or your dependents against any monetary needs that may arise.

2. How To Manage Sudden Unaffordable Expenses?

Bills know nothing about your financial instability or a crisis that your family may be going through. Bills can keep accumulating and allow no breathing time but, there is a foolproof way out!All you need to do is to find yourself the correct Endowment Plan from various insurers like Kotak, Reliance and ICICI that create a cash value. With these policies, the insured gets to withdraw money on request for immediate expenses like unsettled medical bills, mortgage payments, business commitments and meeting college expenses for children etc. Another option is to go for a Health Plan from insurers like Religare, Star and Apollo.

3. I Need A Good Credit Score

A survey conducted across eight cities in India revealed that a whopping 92% of respondents were unaware of their credit scores. Knowing your credit score is as important as knowing your bank balance and explains the need to have a healthy credit rating. What if you have a pathetic credit score?

There are ways to repair it, and the best way to build your credit rating is to have a Health Plan from insurers like Religare, Star and Apollo or Life Insurance from insurers like Kotak, Reliance and ICICI preferably through electronic clearance services mode which increases credibility.

4. The Show Must Go On – Even After I Am Gone

Insurance is a strong risk management strategy that offers stability and protection that you and your family will need during tough times. If a family loses a breadwinner with Guaranteed Return Plans from insurers like Reliance and Kotak, it can bring back the ray of hope at the time of loss. What’s more assuring than knowing your family is protected even while you are not around? Lead a stress-free life today by investing for a brighter future tomorrow.

5. Am I Ready For Unforeseen Financial Risks?

Who wants to see their loved ones suffer out of bad financial status? As life circumstances and financial commitments keep changing, shielding your family’s future against unforeseen financial risk is of top priority. What if you are looking out to start a business venture or incur surprise expenses?

A good endowment plan with benefits of liquidity is a strong option to which you can anchor on at times of crisis and boost your financial security.

While there are plenty of reasons to stay covered, an insurance expert could help you pick a plan that suits your needs best.
Life might be an adventure, but it is still worth to have a backup. Stay Insured and Stay Assured!

Did You Know?

The Greeks and Romans came up with the idea of insurance by around 600 BC in the form of guilds called ‘Benevolent Societies’.

This was a plan that cared for the families of deceased members who insured themselves so that the family is paid for funeral expenses.

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