There are many people who wonder if they require life insurance.
At the same time, there are people who feel they have sufficient insurance to take care.
But life insurance is a must for every people.
Along with life insurance, you can go for other savings also like Mutual Funds/Trading (provided you are ready to take little risks), PPF Accounts, Bank Fixed Deposits or Recurring Deposits or Company FD’s (good company offering fixed deposits).
Savings can act as a security for your family.
For everything you require money.
Savings can help in meeting daily expenses, housing as well as education expenses.
What will happen if one of the earning member pass away all of a sudden? Losing income can have lot of impact on the daily lifestyle. However in such a case, life insurance can minimize the impact.
For short term of 5 years or 10 years or 15 years, you can go for Recurring Deposits/Fixed Deposits/ Systematic Investment Planning (SIP’s), STP’s of Mutual Funds and also invest in Public Provident Funds (wherein you get tax benefit also)/NSC.
For long term say 15 years or 20 years or 25 years, you can go for life insurance. When you choose higher term, the premium is also on the lower side and returns are higher.
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