Life Insurance ensures that your family will receive financial support in your absence. It protects your family any kind of from financial crisis. It also acts as a money-saving scheme.In the fast paced and very fragile life style and stressed lives we live, insuring life itself has become a necessity so that your family have a financial support if anything unpleasant happens. It is difficult for family members to accept the loss of someone they all loved dearly. However, if the person they have lost is the principal earner or the chief bread winner of the family, monetary problems start haunting the family. Such problems could lead a family into the troubled waters, which everyone tries to prevent from happening. But there is a way to provide for your family and to prevent it from entering into this dark phase of life.
Basically, life insurance is an agreement or contract signed by the owner of the policy and the insurance company. Today, it is seen both as an investment and as an insurance. The life insurance agreement is such that the insuring company acts upon the pre-set sum of payment in event of an untoward occurrence of death of the insured individual. This agreement is backed by the payment made in installments for a pre-set and calculated time frame by the policy owner or policy payer.
As in today there is no shortage of investment options for a person to choose from. Modern day investment options include gold, property, fixed income instruments, mutual funds and also life insurance. When one opts for insurance, it can create a flexible money-saving scheme, which empowers one to accumulate, wealth to buy a new car, get one's children educational solutions, and even retire comfortably.
With different life stages, the financial goals change as well. The investment should offer corresponding benefits as befitting the needs of the new life stage. ICICI Life Insurance plan is the only plan that offer specific products tailor-made for different life stages. On the basis of different life stage, one is under the various corresponding needs. ICICI Life Insurance plans can be categorized into the following types:-
A Education Insurance Plan:- As a parent, this is an important responsibility to ensure that your child gets the best possible education that can be provided. ICICI Life Insurance plans offers a wide portfolio of education insurance plans. This plan ensure that money is made available at the crucial junctures in a child's education-Class X, XII, Graduation and at the time of Post-Graduation, to fund crucial commitments to the child's future.
More importantly, education insurance plans ensure that in the unfortunate event of the death of a parent, the child's education continues unaffected.
B Wealth Creation Plan:- It provides the customer the dual benefit of protection along with the potentially higher returns of market-linked instruments. Wealth creation plans also offer the customer more liquidity options as compared to traditional plans.
C Premium Guarantee Plan:- In the ICICI Life Insurance portfolio, the Premium Guarantee Plan-Investshield cum-investment option for customers who want to enjoy the potentially higher returns over the long term, without taking any market risk.
Life insurance is a life long investment and thus should be made with circumspection and caution and is something which should be taken with morbid sincerity. All the possible options available in the market should be taken into consideration and also the family should also be brought in on this so as to make the most appropriate decision which would help your family in the future and not be source of trouble and stress in the future.
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