Am I Getting Tripped by Buying a Life Insurance?
That may be the thought you are having right now. Yes may be its true in a way if you have not identified the true need of you and the product to meet your exact need. Life Insurance is a lifelong decision based on emotional and financial perspectives. Its most definitely to safe guard the future of you or may be the family members who you love the most.
Let's take you through the below reasons why people of the world opt life Insurance over other financial tools.
Living in this world is hard ,.When it comes to financial difficulties life will not be the same again. Most people have gone through this phase in some time of their life may be in a least way. Therefore we all want our family members to be equipped with some sort of financial security in order to lessen their agony and worry to the least.
It’s a tool to keep the promises alive even in your absence. This applies to the promises you made to your elderly parents, your caring partner, loving children or may be to cover a debt (Mortgage protection bond)
You can save money for a specific goal . It may be your child’s education or a happy retirement. This can still be fulfilled in your absence.
As a tool of investment Sri Lankan Insurance giants share their well-managed investment fund yield with their policy holders in form of bonus or a dividend.
Get a considerable income in future to enjoy your later years in life. May be in the form of monthly pension or a lump sum.
It’s an expression of love, care and gratitude towards the people who adore you much.
Insurance Investment funds are the largest in the world and highly regulated by the relevant regulatory bodies.