Why Should You Purchase Life Insurance After Marriage
Published On Feb 22, 2022 10:30 AM By InsuranceDekho
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A healthy financial strategy necessitates the purchase of a guaranteed return insurance policy so that you or your family will be prepared in the event of an unexpected financial need or another unforeseen occurrence. Guaranteed insurance provides all of the resources needed for financial backbone and stability in order to safeguard one's new starting and responsibilities. A guaranteed return life insurance plan is an investment plan that allows you to save in low-risk areas while receiving fixed and consistent returns. This plan would allow newlyweds to take use of the twin benefits of life insurance and solid investments to help them achieve their life aims and responsibilities in the best way possible.
Benefits Of Life Insurance Policy After Marriage
The following are some of the key advantages of a guaranteed return insurance plan for newlyweds:
1. Offers A Money-Back Guarantee
A guaranteed insurance plan guarantees guaranteed returns on investment, ensuring financial security. It also offers a customizable lump sum, lifetime income, and regular income benefits to the returns.
2. Ensures That You Are Covered By Insurance
In India, there are numerous guaranteed return programs that one might choose from after marriage. It secures and provides life insurance coverage to the nominee in order to protect the future of their new family and loved ones.
3. The Family Is Completely Safe
Guaranteed returns plans include life insurance, which ensures that your family will get a death benefit if you die. This payment assists your family in repaying outstanding debts and meeting future financial obligations such as a child's marriage, wedding, home purchase, and so on.
4. To Cover Increased Expenses
The couple's expenses rise in tandem with their increased obligations in marriage. They could rise even more if the couple decides to have a kid. In this case, the death benefit paid to the life assured's family will assist in meeting these expenses if something unanticipated occurs. And if you are the sole breadwinner, the importance of a life insurance policy grows exponentially because it helps dependents deal with financial stress by providing monthly death payments that act as income replacement.
5. Assist Your Partner
It's also critical to get life insurance for your partners to avoid any future problems. In the same insurance that he or she has purchased under the entire life income benefit, the individual might choose the option of joint life.
6. Add-On Riders
Optional riders, which can be one of the alternatives for life insurance for newly married couples, can be added to an individual's plan to improve the protection of their newly established family.
The factors stated above should persuade you to obtain a life insurance policy after marriage. When looking for term guaranteed return insurance plans in India for themselves and their partners, one should look for premium plans, maturity benefits, and important features, and then finalize the insurance plan. Furthermore, you might seek the advice of a reliable insurance agent or a professional financial counselor to assist in assessing both spouses' personal and professional needs as well as future aspirations. It is best to get a policy after thoroughly comparing the various policies offered by various insurance firms.
Also Read: Ways To Invest In Gold In India 2021
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.