Why Insurance?. Review on Choosing an Insurance Provider

We people think so much about future. Our next career goals, our future

aspirations and so many other things. We take the big decisions of our

life after taking account of so many factors that we think are most

important to us. But we forgot some very small things. These things

might be small but the bearing these could have on the future of our

families is immense. One such thing is insurance.

The question I

raise here is "Are we adequately insured?" There is no single answer to

this question because it depends a lot on our current financial

situation. As a thumb rule, if you are a young couple and you have

family dependents, your insurance cover should be 5 times to your

annual income on the lower side. On the higher side, it is 10 times.

You

must have invested in some various kind of insurance policies just

because to save tax. Calculate the sum assured of all the policies that

you have and most probably you will find out that it falls much shorter

than the required cover.

Do you know that for an insurance cover

of Rs. 30 lakhs, you just need to pay less than Rs. 10000 annually.  I

guess you may not know it simply because while taking the carrier

decisions, we inquire about so many things. But when it comes to

financial matters, we invest almost blindly.

There is no

replacement for a human life, but we can make the hardships manageable

to a good extent that our families will face in case we are gone.

At

last, I would like you to know why I am writing this piece. I have

become an insurance advisor for Birla SunLife and I would like to

encourage you to go for a decent life cover. And Birla SunLife's Dream Plan is the insurance plan that provides you this kind of cover at the minimum cost. So the next time you are talking to an insurance agent, do compare their price with the premium amount of Dream Plan.

provides good information about the importance of term plan.