Picking the Right Life Insurance Plan

1
Life Insurance
2
Picking the Right Life Insurance Plan
3

• No one enjoys talking about death, but we cant
  avoid it.  Death is a part of life.  The more
  preparation you and your loved ones do while
  still living, the easier it will be for those who
  are left behind.  One of the best ways to
  help your loved ones when you die is to have
  a life insurance plan in place to cover any
  financial obligations and day-to-day expenses for
  them moving forward.
• From funeral costs to daily living expenses, the
  cost of a loved one dying is usually a big shock
  to family.  On average, a typical funeral can
  cost around 10,000, depending on where you live
  and how extravagant you want the service.  Now,
  my significant other just wants to be cremated
  and put into fishing lures and in lieu of a
  funeral he just wants everyone to go fishing, but
  not everyone has those wishes.
• Before you purchase a life insurance policy,
  there are three very important initial pieces to
  think about.  One being how long you want the
  policy to last, two being how much coverage, and
  the third is if you want your policy to
  accumulate cash value or simply help replace the
  income you provided to your loved ones.

4
How long should my life insurance policy last?

• There are two main categories that life insurance
  falls into temporary and permanent.  Temporary
  insurance is known as term insurance.  Term
  insurance is ideal for the majority of Americans
  who simply want to protect the hopes and dreams
  of their family and loved ones, and relieve them
  of financial stress if they are not around to
  provide financially.  Term insurance is purchased
  for a certain length of time, typically either
  10, 20, or 30 years
• Whole life and universal life insurance policies
  last your entire life and you dont need to worry
  about renewing them at the end of term periods
  like you do with term insurance, as long as you
  pay the premiums.  But keep in mind, these
  permanent policies are going to be significantly
  more expensive than term insurance

5
What type of life insurance should I own?

• Now, we talked about term life insurance you pay
  a set price (premium) and in return the insurance
  company will pay your beneficiaries (those you
  designate to receive the money from the policy
  upon your death) the full amount of coverage.
   But what if you want more options and lifelong
  protection?
• While life insurance should not be used as an
  investment tool, many permanent products, like
  whole life and universal life, will accumulate
  cash values over time and these cash surrender
  values are part of your living net worth. Keep
  in mind these permanent policies are more
  expensive and complicated than a term life
  policy. Also, term life policies are usually
  convertible to permanent products during their
  term period without evidence of insurability
  should you wish for longer coverage.
• (Source https//www.quotacy.com/know-youre-pickin
  g-the-right-life-insurance-plan/ )

6

Follow us on
https//www.facebook.com/bajajallianzlifeinsurance
ltd
https//www.linkedin.com/company/bajaj-allianz-lif
e-insurance-co-ltd-
http//plus.google.com/bajajallianz/posts
https//twitter.com/bajajallianzLIC
https//www.youtube.com/user/jiyobefikar
https//instagram.com/bajajallianzlifeinsurance
7
To know more on Life insurance
https//www.bajajallianz.com/Corp/life-insurance/
life-insurance.jsp

• Thank You..!!