Your insurance need will change as your
life does, from starting to work to enjoying your golden years and all the
stages in between. Each one of these stages may pose a different insurance
need/cover for you. In this section, we have drawn up the basic life stages and
help you analyse various insurance needs accordingly.
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Young and Single
An important stage where one lays down the foundation
of a successful life ahead. Take advantage of the time and power of compounding
to ensure that you build up your dreams. Start saving early.
†Save for a home and wedding
†Save for Golden years
Marriage brings about a significant change. New dreams
and new opportunities also bring in additional responsibilities. While both of
you look forward to a happy and secure life , it is equally important to ensure
that eventualities donít come in the way of shaping your dreams.
†Planning for home / securing your home loan
†Save for vacation
†Save for your first child
Once you have children, your need for life insurance
is even more. You need to protect your family from an untoward incident. Ensure
your protection umbrella takes into account the future cost of securing your
childís dream. You will want life to go on for your loved ones, and having
enough life insurance is a way to help ensure that.
†Provide for childrenís education
†Safeguarding family against loan liabilities
†Savings for post-retirement
While you are busy climbing the ladder of success
today, it is important for you to take time and plan for your life after
retirement. Having an early start for retirement planning can make a
significant difference to your savings.Think about
your golden years even before you have reached them. The key is to think ahead
and plan well using your time and money.
†Provide for regular income post retirement
†Immediate Tax benefits
†Lead a secure, independent and comfortable
life style in your retirement years
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