6 types of people who must have life insurance

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Types Of People Who Must Have Life Insurance
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INSTRUCTIONS FOR USE

• Many people in India dont see the need for life
  insurance. Here are six scenarios in which you
  could benefit from life insurance

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1. Youre the main Breadwinner

• Protecting your family is the main reason to buy
  a life insurance policy. If youre the sole
  breadwinner of the house and have dependents like
  a spouse, aging parents or school-age children,
  your unexpected demise would leave a financial
  void in the family.

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2. Youre a Divorced Parent

• If you are divorced and your partner is taking
  care of the children with financial support from
  you, your death would leave them in a financial
  mess.

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3. Youre Child has Special Needs 

• Being the parent of a special needs child can be
  stressful enough without the added worry of
  leaving your child financially helpless after
  your death.

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4. You have an outstanding home loan

• If you have just bought a home or your existing
  house is still mortgaged, the sum assured from
  a life insurance policy can cover the outstanding
  home loan in the event of your demise. A life
  insurance policy gives your dependents the option
  to pay off the mortgage, although they can decide
  not to use it for that purpose.

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5. You own a business

• For a business owner, financial worries such as
  debt and taxes are constant. But in the event of
  your death, the entire burden falls on the
  surviving family members. If you have a life
  insurance policy, it can help pay off your
  business debt and take care of your estate taxes.

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6. You have significant debt

• If you have student loans, personal loans or any
  consumer debt such as a credit card, its
  generally not cleared when you die. Your family
  will have to pay any outstanding amount. Your
  life insurance payout can take care of this debt.

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BEST INSURANCE CALCULATORS DECISION TOOLS

• Pension Calculator
• Input your desired pension
• Calculate how much you need to
• invest

• Health Insurance Tool
• Do you need health Insurance? If Yes, How Much?
  Check Now

• Term Insurance
• Check how much insurance protection or term cover
  you should have

• Child Education
• Check how much money you will need for your
  child's higher education.

• Retirement Planning
• Check how much will be you monthly expenses on
  retirement.

• Investment Calculator
• Check what will be the future value of your
  monthly investments

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THANKS!

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