The purpose of buying life insurance is to secure your family's and Your financial independence including protecting your family in Case of any unfortunate circumstances .However, unfortunately in India we have more men buying life insurance then women .Life Insurance is an all - pervasive need and it is imperative that like men,
Women too, should get insured for a variety of reasons .As more women, married or otherwise, join the corporate workforce and take up the responsibility of contributing towards the family expenses, the risk of a loss of income in case of an unfortunate event increases . Having life insurance in such instances can prove to be a boon.
More importantly, life insurance in today's context also helps today's working woman by inculcating a compulsory habit of Regular Savings to take care of her future needs. Some of these Insurance plans, help you in planning for such future needs like marriage, house purchase etc.
Life insurance is the only tool where you create an asset right at the start (life cover) as compared to other options where your saving build up over a long period. To determine the exact life Cover needed, you must try to estimate the value of your life. This is called
'The Human Life Value'. It is done by summing up all your current Expenses along with future liabilities that your family will have to bear in the event of your unfortunate death. Having done that ,you must take a policy to give you a life cover equalling your human life value.
An important point to note is, the way insurance premiums are structured. Opting for life insurance policy at an earlier age works out to be cheaper (due to low mortality charges) and you keep on Paying the same premium till the end of the policy term .
FIRST START DOING JOB,
THEN START LIFE INSURANCE
[Front office staff Life care centre,Delhi]