Understanding Inflation
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Table of Contents
So, How Does Inflation Affect You?
How Does Inflation Affect Your Savings?
Why You Must Consider Inflation When Buying Life Insurance
Here are a few reasons why you should factor in inflation while deciding the cover amount -
For instance, if you have taken a loan to buy a house and unfortunately pass away before it is repaid, the entire responsibility will fall on your family’s shoulders. Your cover amount should be sufficient to repay the loan.
While calculating the amount you will need to achieve these goals, you need to factor in inflation. Your cover amount should conform with your financial goals and the expected rise in costs.
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Disclaimer
ABSLI DigiShield Plan is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 9 (Level Cover with Survival Benefit) and Plan Option 10 (Return of Premium [ROP]) this product shall be a non-linked non-participating individual life savings insurance plan. UIN: 109N108V11
¹ ABSLI DigiShield Plan scenario: Female, non smoker, Age: 21 years, level Term Insurance, Premium paying Term: regular pay, policy term: 25 years, Pay frequency: Annual Premium of Rs. 6500/12 months (on average Rs. 542/month) Exclusive of GST (offline premium).
²Our life insurance policies cover COVID -19 claims under life insurance claims, subject to applicable terms & conditions of policy contract and extant regulatory framework.
³ https://www.bankbazaar.com/gold-rate/gold-rate-trend-in-india.html
⁴ https://theprint.in/india/as-cooking-oil-prices-rise-indian-households-spend-more-look-for-cheaper-alternatives-survey-shows/912563/
⁵ https://tradingeconomics.com/india/inflation-cpi
ADV/10/22-23/1804
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