Life insurance for sale – Only for those who love their family
According to a study, there are more than a million ways in which a person could die. Yet most
people feel they will die only after a long time.
Let’s see understand the above picture with respect to an average Indian family.
Image 1 – Progressing ahead
The family consists of a husband, wife and two kids. Husband is the only earning member in the
family. He is earning well and takes good care of the family. All the monthly expenses are well
taken care off from his salary. Now they are planning to purchase a car.
Image 2 – Going backwards
Husband dies unexpectedly due to an accident. Wife and children are left without any support.
Apart from the mental stress they don’t have money to continue life as before or even take
care of basic necessities.
Image 3‐ In deep financial trouble
The situation becomes worse when the family is forced to sell the house and belongings to
fulfill their basic necessities.
Lessons to learn from the above story
You don’t need life insurance if you feel you have enough savings in your bank account which
will last for a lifetime for your family. To calculate the amount multiply your monthly expense
amount with 12(for 12 months) and multiply the result with 50(Assuming your family will live
for minimum 50 years). For eg if your monthly expense is Rs 10,000 you will need Rs 90,00,000
in your bank account now.
Yes you read it right Now. Also keep in mind we have not included inflation in the calculation. If
we include inflation the amount required would become much higher or even double.
If you don’t have this much in your account, you can still take ensure the best for your family
with adequate life insurance. You can calculate the amount of life insurance cover required by
multiplying your annual income by 12‐ 16 times. For example if your annual income is
Rs.5,00,000/‐ you need to take a life insurance with risk cover of approximate 60‐80 lakh rupees
minimum.
For further assistance contact: 9886823242-Shraddha Consultancy, "where values are redefined"
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