6 common myths that people believe about life insurance

1. 6 things people believe about Life Insurance

2. Here are 6 common myths that people believe about life insurance.

3. 1. I don’t need life insurance if I don’t have children We commonly consider life Insurance as security for those with children. Regardless of the fact that you don't have children, an extra security strategy will help in paying off the liabilities and give money related backing to your wards like your mate and elderly guardians.

4. 2. My employer insurance is enough Group life insurance is an advantage that may look valuable, however it may not be sufficient to cover your present and future liabilities. They have limited scope when it comes to personalizing with riders and other benefits. On the off chance that you quit your job, your scope closures and portability is not possible as you were never the owner of the policy. http://www.policyadvisor.in

5. 3. I’m too young to think about life insurance You will get an affordable policy with lower premiums when you're more youthful and more healthier. On the off chance that you begin early, it will help you in future as your family estimate and financial responsibilities increase.

6. 4.Life insurers never settle claims Insurance agencies exist to secure their clients, and their reputations are built on that. They make public their claims settlement ratios for consumers as well. If you provide accurate information and regularly pay your premiums, you should feel confident your claim will be accepted. http://www.policyadvisor.in

7. 5.I only need a sum assured that covers my income In case you're not around, your family will require enough cash to cover the loss of your regular income, liabilities. for example, EMI instalments and your child’s education or any outstanding debt. http://www.policyadvisor.in

8. 6. Multiple insurance policies mean extra protection Most personal finance advisors don’t see a rational need for two policies. You need to remember to pay multiple premiums, and undergo separate medical exams and KYC processes. If your liabilities and needs have grown, simply opt for a higher sum assured when your plan comes up for renewal.