Somosree Roy (@somosree) 190 Followers 30 Nov

JNUite, reader, explorer and writer with economics backgroun

Talks about #personalfinance #financialfreedom #crypto #realestateinvestment

Insurance 738 3

Life insurance - A dependable protection to your dependants or a smart way to generate returns on investment upon maturity?

Well, I have often heard a lot of people say that we have enough protection for our dependents or we don’t have dependents, what’s the use of life insurance.

It has two sides of the story.

If you have been working for a while, if you are married or if your dependents are aging, you got to think about Life insurance. Even if you have loads of money stacked for your family, life insurance is highly beneficial as it guarantees a promised lumpsum to insured’s beneficiaries as the insured dies. You never know what sort of unprecedented situations come up when the insured is gone.

On the other hand, if you are a starter at work, you might not have to think about insuring your dependents as your family might be pretty young, with their own insurances. If you are single or have no beneficiaries, life insurance might not make sense to you. But, what about its incredible benefit of tax saving and a promised amount upon maturity? The returns don’t depend on market fluctuations.

life insurance


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