Life Insurance For Parents

Life is precious gift of god. It is our moral responsibility to secure our truly valuable life. Life insurance effectively secure our life at every stage of age.

Parents are our whole world. Life insurance preserves the colors of our parent’s life. Life insurance is a legal contract between an insurance policy holder and an insurer or assurer. One can secure life through life insurance by paying a certain amount in the form of premium at a fixed interval time or as one lump sum.

·         Life insurance provide financial backup on untimely death of parents.

·         There are many type of policies which depends on the parent’s age, health status & financial condition.

·         Life insurance provide peace to your parents on every unfortunate incident of life.

·         If you opt life insurance plan at an early age, the premium rate will be lower. However opt at later age, the premium will be higher.

·         Various companies offer life insurance. Precarious illness, maximum renewal age, medical center & hospital are some of the term which should be taken care of opting life insurance for parents.

·         According to the income tax act 1961, one can get tax benefits on the income as life insurance is tax free.

·         The money invest in life insurance is a safe & long term investment. Life insurance offers bonus too which is a yield better investment strategy.

·         Life insurance is a great source to create the wealth & transfer it.