Life Insurance
Any individual runs a risk of a) Premature Death or b) Living too long. Life insurance is product that offers in management of both the risks.
Life insurance is contract between insurer and insured, where in the insurer promises to pay the nominee, the sum of money upon the death of the insured. The value for the policy owner is the 'peace of mind' one has got by paying premiums to the insurance company, in knowing that the death of the insured person will not result in financial hardship of the dependents.
In an unfortunate event of death, Life insurance could provide :
1. Income to family members so they can maintain their basic lifestyle.
2. Pay off mortgage, so that the house is free and clear of loan.
3. Education for your children.
4. An emergency fund to handle an unexpected financial crisis.
There are different types of Life Insurance policies available in the insurance world. Mostly categorized into two Term Insurance and Endowment. At Renuka Investments, we usually suggest are investors Term Life Insurance.
What is Term Life Insurance ? Term Life Insurance provides insurance cover to the individual for the specific term one has decided during the proposal of the policy. The policy holder pays a fixed amount of premium each year, to the insurance company in return for their promise that if the policy holder pass away during the length of term, the nominee of the policy will receive a defined lump sum payment equal to Sum Assured. If the policy holder do not die during the term, no benefit is passed on to the policy holder, nor the premiums are returned. The term life insurance are most cheapest form of insurance available. In simple terms, term life insurance is just like your car insurance. Term Life Insurance is purely for risk protection.
Buying term life insurance and investing the difference is a concept involving Term Life Insurance and investments strategies that allows individuals to eventually "self Insure" and provides an alternative to endowment policy.
Investors making use of the "buy term and invest the difference" concept separate their investments from their insurance by setting aside money every month equal to the premium that a endowment plan would require, then use a portion of this money for the term premium and place the rest in a equity mutual fund or any other investment avenue of his choice.
At Renuka Investments, we asses your financial status, suggest you the appropriate amount of Life Insurance, and recommend you with best insurance products available.
Life insurance is contract between insurer and insured, where in the insurer promises to pay the nominee, the sum of money upon the death of the insured. The value for the policy owner is the 'peace of mind' one has got by paying premiums to the insurance company, in knowing that the death of the insured person will not result in financial hardship of the dependents.
In an unfortunate event of death, Life insurance could provide :
1. Income to family members so they can maintain their basic lifestyle.
2. Pay off mortgage, so that the house is free and clear of loan.
3. Education for your children.
4. An emergency fund to handle an unexpected financial crisis.
There are different types of Life Insurance policies available in the insurance world. Mostly categorized into two Term Insurance and Endowment. At Renuka Investments, we usually suggest are investors Term Life Insurance.
What is Term Life Insurance ? Term Life Insurance provides insurance cover to the individual for the specific term one has decided during the proposal of the policy. The policy holder pays a fixed amount of premium each year, to the insurance company in return for their promise that if the policy holder pass away during the length of term, the nominee of the policy will receive a defined lump sum payment equal to Sum Assured. If the policy holder do not die during the term, no benefit is passed on to the policy holder, nor the premiums are returned. The term life insurance are most cheapest form of insurance available. In simple terms, term life insurance is just like your car insurance. Term Life Insurance is purely for risk protection.
Buying term life insurance and investing the difference is a concept involving Term Life Insurance and investments strategies that allows individuals to eventually "self Insure" and provides an alternative to endowment policy.
Investors making use of the "buy term and invest the difference" concept separate their investments from their insurance by setting aside money every month equal to the premium that a endowment plan would require, then use a portion of this money for the term premium and place the rest in a equity mutual fund or any other investment avenue of his choice.
At Renuka Investments, we asses your financial status, suggest you the appropriate amount of Life Insurance, and recommend you with best insurance products available.
