Aditya Birla Sun Life Insurance Company Limited

Why taking life insurance matters

Buying life insurance has become extremely simple and also necessary in India. Life is completely unpredictable. Things can change in the blink of an eye and plunge the family into chaos. Since there is no way to avert or eliminate a tragedy, it is better to buy life insurance to safeguard one's financial future.

Need for life insurance

There are three primary reasons why life insurance is necessary. They are:

  • Providing for the family: Your family depends on you for all its expenses. Hence, your absence in the future can spell doom for their hopes and dreams. A life insurance policy reduces their dependence on one breadwinner and helps run the household.

  • Paying off debts: Your unpaid loans (house or business loan, private debts) can haunt your family in your absence. Creditors may harass your family for their money, and your loved ones may be forced to sell the house and other /_layouts/ABFSG/LI/Styles/HeaderNew to pay off these debts. Instead, your life insurance policy can repay your debts and save your loved ones from uncertainty.

  • Achieving milestones: You may take a life plan that matures after a certain number of years. This means that you will get a large fund after maturity, which you can use for crucial expenses like children's future education and even buying a second home. Thus, your policy maturity can be timed to pay for milestones in your life.

Benefits of life insurance policy

There are many benefits – and no disadvantages – of taking life insurance. The most important benefit of life insurance is that it protects your loved ones against the perils of a lack of income in the future. Just as you are currently invested in providing for your family, the life plan provides a stable fund that your loved ones can use in your absence.

Apart from plans that cover both individuals and families, there are life policies designed for children and company employees, too. Many life insurance plans offer a maturity benefit as well as a death benefit. Plans with a maturity benefit can be useful to you even when you are around. They help you plan your financial future in a more systematic manner (as outlined above). Meanwhile, the death benefit of life insurance helps the family tide over the sudden loss of your income and helps keep the family savings intact for bigger purposes like paying for children's education or emergency hospitalisation.

Investment with life insurance

Insurers in India have now broadened the scope of the need for life insurance with the need to earn good returns on the investment. This has spawned such innovative life insurance solutions as endowment plans, equity linked savings scheme (ELSS), annuity plans, retirement or pension plans, savings plans, etc. All of these are insurance products that offer the dual advantage of life coverage as well as the opportunity to earn capital gains on the investment.

Toll free (Within India):

1800 270 7000

Outside India: :

+91 22 66917777

(Call charges apply)

Between 9 am to 9 pm, All 7 Days

Send an Advisor

Mail on:

care.lifeinsurance@adityabirlacapital.com

Get to a branch closest to you

Connect with us on Whatsapp:

Send "Hi" on 8828800040 from your registered number and get your policy information on your fingertips

Other Related Articles

What is the difference between participating and non-participating policy?

When you go shopping, you compare different options, choose the best out of the lot and then negotiate for... Read more

Importance of disclosing correct information before signing up

You may take the effort of sending a bouquet of flowers for your wife's birthday; however, if you do not give...Read more

How much insurance do you require?

A good life insurance policy can protect your family's future in your absence. Having adequate life insurance...Read more

After receiving your policy

Know your rights and duties as a policy holder. As an informed consumer, you should always be aware of your rights and duties...Read more

Beginner's Guide to a Healthy Life Insurance Portfolio @ Aditya Birla Capital

Life Insurance is an understanding, a contract between two parties, namely the insured and the insurer. As a part of this understanding...Read more

How to Deal with an Insurance Policy in the Agent's Absence

Your life insurance adviser is a highly qualified and specially trained individual, who not only helps you in selecting...Read more

Importance of Life Insurance in Your Healthy Financial Portfolio @ Aditya Birla Capital

Life insurance is becoming more and more popular with every passing day. There is good reason for this as well...Read more

Insurance and Inflation

As the next generation of entrepreneurs, engineers and other professionals take over the mantle of India's economic growth, it is time...Read more

Insurance Industry-Road Ahead

The Insurance Industry continues to be a major contributor to the national GDP, as an integral part of the robust Services Sector, and is...Read more

Meaning and Importance of Life Insurance @ Aditya Birla Sun Life Insurance Articles

My Wife's friend Ratna understood the meaning of life Insurance when her husband Amit suddenly met with a tragic car accident and died at...Read more

The important insurance terms to be aware of in India

Buying insurance in India is often a matter of navigating a lot of jargon before understanding the policy's true benefits...Read more

Understanding Inflation

Over the last few years we have witnessed how food prices have risen dramatically. A pack of 100gm biscuits which cost...Read more

What are riders? Why do I need these riders?

When you are looking for that perfect life insurance plan to protect your financial needs, how do you make sure that a policy...Read more

What Are The Different Kinds of Life Insurance Policies?

The TDS for life insurance policies where maturity proceeds are taxable have been halved from 2percent to 1 percent in Budget...Read more

What are the different kinds of riders?

Better coverage, lower premiums, longer tenure or more benefits? Which should you choose while buying an insurance policy?...Read more

Which income tax slab do I fit into?

The end of every financial year in March sees a scramble to collect proofs of investment, submit bills to claim reimbursement for...Read more

Which Income Tax slab suits me best?

As soon as the month of March dawn upon us (end of financial year), everyone runs helter-skelter collecting proofs of investment,...Read more

Why premium should not be the only criteria for buying life insurance @ Aditya Birla Sun Life

You need to plan properly and then buy a life insurance policy. A life insurance policy is a vital requirement these days and you cannot...Read more

Why Should you demat your Insurance Policies

After the news that the IRDAI plans to dematerialise life insurance policies on the same lines as demat of shares held by...Read more

Why taking life insurance matters

Buying life insurance has become extremely simple and also necessary in India. Life is completely unpredictable. Things...Read more