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Friday, May 11, 2018

Importance Of Insurance To Individual’s Life

Importance Of Insurance To Individual’s Life..!


Importance of insurance or role of life insurance in our life is one of the hot topic in the personal finance area these days. In fact without an insurance policy you will not be able to make your financial life secure or your personal finance plans complete.
Before proceeding further, I hope you are well aware about what is insurance. You can read my previous article on life insurance. Many people think that insurance means an investment to save income tax. In fact from my experience I can say that, people mostly start talking about insurance every year just before income tax return or at the end of financial year.
But in this article, I will try to explain Why do we need to have insurance in life and why you should not miss understood this with other typical investments. Just to make it clear, insurance is not an investment product, so don’t but any insurance with the intention of investment. This statement is 100% true for term life insurance, but there are various mix products also available where you will get both the benefits of insurance & investment together.

What are the different types of insurance?

Generally there are 2 types of insurance: Life insurance and General insurance. Under every category there are different types of insurance plans. Here I am sharing the basic categories of insurance which you will be able to link with your everyday life.

Types of Life Insurance..



Importance Of Insurance To Individual’s Life Reviewed by S. Chitra on May 11, 2018 Rating: 5 Importance Of Insurance To Individual’s Life..! Importance of insurance  or  role of life insurance in our life  is one of the hot top...

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