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Need Of Insurance

It seems everyone asks the question, "Do I need life insurance?" at one time or another. It's understandable because life insurance can be confusing at times. It's not something we are all experts at knowing about. In fact, the thought of life insurance scares many people away from even considering purchasing it. That is unfortunate because it can make a such a huge impact in the lives of your loved ones in the event of your death. So, how do you answer the question, do I need life insurance? Let's take a look at 5 good reasons you may need to have life insurance protection.

1. Are you married? Do you have children? These are two very important reasons to have life insurance. If you have dependents who are counting on your income, what happens if you pass away? The last thing you want is for your wife and children to worry about finances, and how they are going to try to make ends meet. I have seen firsthand how important this can be. A good friend of mine was suddenly diagnosed with a brain tumor. It just came out of the blue. Less than a year later he passed away, leaving a wife and family behind. He had no life insurance of any kind. You never want to put your family in a situation like that.

In fact, you should have life insurance protection on both you and your spouse if you have children. Do I need life insurance? If you are married or have children, I would have to say the answer is positively yes.

2. If you have a mortgage and other debts, you should most likely have life insurance. Having insurance to pay off your debts and your mortgage means that your wife and family will not have to worry about this in the future. This is a great reason to have life insurance protection.

3. Do you want to leave your grandchildren set up financially? Leaving them a legacy is one of the greatest gifts you can ever give your grandchildren. You can easily have your life insurance policy set up to provide for all of them equally, both those that are now here and others that may be born later.

4. You may be thinking that because you are in excellent health right now, there is no need to worry about getting life insurance coverage. Actually, this is the best time to get life insurance. If you wait, like my friend who had the brain tumor did, it will be too late. Getting life insurance when you are young and healthy is just plain smart. The premiums will be lower and you can build up a nice savings account with the cash value. In addition, if something were to go wrong with your health later in life, you will already have coverage in place.

5. Having life insurance is the most important insurance you can have. Did you know that if you were to develop a terminal illness, your life insurance company will pay out a lump sum upon confirmation? This allows you to get your affairs in order and fulfill any last minute dreams you've wanted to accomplish in life. This may never happen to you, and I hope it doesn't, but if it were to happen, isn't peace of mind worth it all?


Regular investing in MF schemes reached a new milestone, with SIP accounts crossing 4 crore and SIP AUM reaching an all-time high of Rs 483,964 crore
Fri, 09 Jul 2021 12:12:17 +0530

Investors have put in bids for 74.15 crore equity shares against offer size of 56.85 lakh equity shares, the subscription data available on exchanges showed.
Fri, 30 Jul 2021 11:36:54 +0530

Exxaro Tiles IPO: The company will utilise the net proceeds from fresh issue for repaying debt (Rs 50 crore), and working capital requirements (Rs 45 crore).
Fri, 30 Jul 2021 08:32:08 +0530

Devyani International IPO: Investors seem to be more excited about the issue, especially after the great success of IPOs of Zomato and Barbeque Nation Hospitality.
Fri, 30 Jul 2021 08:18:34 +0530

The net proceeds from its fresh issue will be utilised for repaying of debt (Rs 50 crore), and working capital requirements (Rs 45 crore).
Thu, 29 Jul 2021 18:15:56 +0530

Tatva Chintan traded with volumes of 78.60 lakh equity shares on the NSE and 8.99 lakh shares on the BSE
Thu, 29 Jul 2021 17:43:36 +0530

Tatva Chintan Pharma Chem IPo shares gained more than 100 percent in one of the strongest listings in 2021. GR Infraprojects rallied 108.7 percent and Indigo Paints climbed 109.31 percent on listing day
Thu, 29 Jul 2021 12:54:45 +0530

Rolex Rings IPO has, so far, received bids for 2.87 crore equity shares against an initial public offering size of 56.85 lakh equity shares
Thu, 29 Jul 2021 11:53:10 +0530

Glenmark Life is planning to raise Rs 1,513.6 crore through its IPO, which comprises a fresh issue for Rs 1,060 crore and an offer for sale of 63 lakh equity shares by Glenmark Pharma
Thu, 29 Jul 2021 11:29:06 +0530

Tatva Chintan IPO was subscribed 180.35 times. The specialty chemical company will utilise net proceeds from its fresh issue to expand its manufacturing facility in Dahej and upgrade the RD facility in Vadodara
Thu, 29 Jul 2021 10:00:23 +0530

Windlas Biotech IPO: Promoter Vimla Windlass will sell 11.36 lakh equity shares, and investor Tano India Private Equity Fund II will offload its entire stake of 40,06,067 equity shares (or 22 percent of pre-offer paid up equity) via offer for sale.
Thu, 29 Jul 2021 08:10:42 +0530

The company will separately announce price band and lot size for its IPO in coming few days. The issue will close on August 6.
Wed, 28 Jul 2021 18:55:01 +0530

The price band for the offer could be disclosed separately by the company in coming days. The issue will close on August 6.
Wed, 28 Jul 2021 13:12:35 +0530

Arihant Capital has come out with its report on Rolex Rings. The research firm has recommended to #39;#39;Subscribe#39;#39; the ipo in its research report as on July 27, 2021.
Wed, 28 Jul 2021 12:29:56 +0530

KR Choksey has come out with its report on Rolex Rings. The research firm has recommended to #39;#39;Subscribe#39;#39; the ipo in its research report as on July 28, 2021.
Wed, 28 Jul 2021 12:23:59 +0530

Considering the business growth outlook and almost stable operating margins, Choice Broking assigned a #39;subscribe#39; rating to the issue.
Wed, 28 Jul 2021 11:42:58 +0530