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Why to Opt for a Protection Plan? PowerPoint PPT Presentation


Protection plans helps to serve our financial needs in the times of emergency and the many reasons to buying them are listed here.

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Why to Opt for a Protection Plan?

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Why to opt for a protection plan

Why to opt for a Protection Plan?


Why to opt for a protection plan

Life insurance is a financial asset and helps increase one’s credit to get a loan or health insurance. Most policies have a good cash value. Insurance can range from personal individual insurance plans to business insurance plans for a larger number of individuals altogether. It can help protect a business from financial loss, instability, liabilities in unfortunate events like demise of business partner/owner.


Why to opt for a protection plan

There are quite a few reasons to opt for a protection plan, few of them are rightly listed below:

Medical Costs: In an unfortunate event, if one develops a serious illness or disorder, life insurance can help the individual with financial support. It can also be used in the case of extreme emergencies by seeking a request for withdrawal or loan.

Financial Independence: Insurance plans can help an individual to deal with debts. Every individual wishes to be financially independent at all times. Any kind of outstanding loans like auto loan, personal loan, credit card loan can be taken care of if one buys the right life insurance policy. It is always advisable to consult a licensed professional to understand the varied life insurance policies available in the market.

Retirement Saving: It is always advisable and smart, together, to have savings for retirement. With a life insurance plan, one can have a steady flow of income every month. Pension plans are a great way to assure the same.


Why to opt for a protection plan

There are quite a few reasons to opt for a protection plan, few of them are rightly listed below:

Tax Savings: One of the many benefits of buying an insurance plan is saving on taxes. The premium paid on an insurance policy can be eligible for a maximum tax benefit of Rs. 1.5 lakh.

Mortgage Payments: If you are planning to buy a home or renovate it, an insurance plan can help you with it. A term life insurance policy can help one to refinance their mortgage.

Security: Future is unpredictable and it is best advised to invest in the right kind of protection plans to secure your family, home, business or other such relevant needs. Insurance plans are a great financial pillars and help us to pay our mortgages, bills, college fees among other basic financial needs.


Why to opt for a protection plan

One can consider life insurance to be a great tool for protection and savings in the long run. It simply gives you a peace of mind and lets you live stress free, while being financially independent and have a set of savings aside for future emergencies. Hence, it is advisable to opt for a protection plan since a need for the same may change during your lifecycle depending on the situation and circumstances surrounding them.


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