Life Insurance

Many families in India still fail to protect their biggest treasure, their family and loved ones. While thinking about future security, life insurance still does not top the list of many Indians. Where there are still many of us who haven't paused to think life insurance, while there are several others owning plethora of plans, options, and choices available but finding it difficult to make up mind as to which policy to go for.

What do you think is the necessary building block of financial planning? It's the protection; for you, your family and dependents. Ever thought how is your dependents going to survive if you die tomorrow? All the major life events have a dramatic effect on a family's financial health. What can be more deviating than a loss of bread winner in a family?

While no one really likes to think about something tragic befall them but mishaps are beyond reality.
Think about the time when in a spur of moment you leave your dependents shattered not solemnly emotionally but financially too.  Making up with financial loss, which family might suffer due to sudden demise of breadwinner can be best answered with buying sufficient and adequate life insurance.

How far it is relevant to leave your future to chance especially to those who love the most?

Our insurance brokers are supposed to be working for you and repeatedly in a hunt to select the best policy, matching suitably with your needs, requirements. A sneak a peek into your financial future is what our insurance brokers are trained and experienced at.  

Human life value: It refers to the monetary value of all 'yet to be fulfilled' needs of dependents inclusive of all outstanding liabilities. The total income than an individual is expected to earn over the remainder of his working life, expressed in present rupee terms is what concept of human life is. On the basis of this, the value is used to determine the amount of insurance that a person should buy.

Here is an example to understand it much better.

Particulars

Vivek's age

Years

30

Age of spouse

Years

27

Life expectancy of spouse

Years

70

Age of child

Years

3

Child's share of monthly household expenditure

%

10

Child will remain dependent till

Years

22

Monthly household expenditure

Rs

40,000

Of the above, how much is spent on Vivek

Rs

10,000

Expected inflation in household expenditure

%

5

Money to be set aside for child's education (in present value terms)

Rs

1,000,000

Money to be set aside for child's marriage/other needs (in present value terms)

Rs

750,000

Outstanding loans

Rs

1,500,000

Other liabilities

Rs

500,000

Medical expenditure/emergency fund

Rs

500,000

Rate of return on low risk securities/deposits

%

8

Human Life Value

Rs

16,645,475

If the rate of return on low risk securities/deposits is

%

7

Revised Human Life Value

Rs

18,183,996

Unfortunately, in life you have to face worst case scenarios. This can be related with losing your job, salary, bread winner and much more. Repair lost wage, leave a legacy, retain financial security and safeguard your family's future!