How To Choose The Best Life Insurance In 2024

Today, in this article, I am going to tell you all the things about Life Insurance, which will help you whether you should take Life Insurance or not, and if should take it then how much should be taken and which should be taken, these three things we will write today. I am going to tell you. So let's start

How To Choose The Best Life Insurance In 2024

Choose The Best Life Insurance In India In 2024

1). Who should Take Life Insurance

Should everyone take life Insurance, does everyone need life insurance, No, Life Insurance should only be taken by the person who makes money in the family, on whom one is dependent.

Such as:- if there is a person whose wife does not work, his children are small and the man is a family earner, then he should take life insurance or if the husband and wife both work and both earn money, then both of them to Life Insurance should be taken, If the only wife earns, then the only wife should be taken and if the only husband earns, only the husband should be taken. It needs 2 factors, The first factor, do you make money? if you do, then the second factor is whether you have a dependent. 

suppose you earn money and you are not married yet and your mother and father are well set, they earn themselves, they do not need money from you and if you are not married then you will not get such Life Insurance, because you so there is no dependent.  

2). How many age Life Insurance Cover Do I Need?

Why is it important for you, like you are 25 years old today and you take a policy that until you are 60 years if you spend 25 years and 60 years if you die, your family will get money, just like you have taken Life Insurance of 1 crore, then your family will get it and if you die after 60 then your family will get nothing, some policies are like this, So how old is the policy that should be taken, this is an important factor, so as you get more age to coverage as if one has taken a policy till the age of 60 that if something happens to me than my family will get it giving money, and the other has taken that if I have anything by the age of 70, give the money to my family, so the cover of the 70's that the other has taken will have its premiere greatly increased because, with age,  the more age you take cover, the more your death rate is increased, because of that your premiere level increased. By the way, Hall Life Insurance also comes, like whenever your death, even in 100 years, your family will get money, but its premiere 4-5 time more. So up to what age insurance should be done so that beyond the premium burden, you should take insurance till that age, you hope that no one will depend on you. Suppose you are 30 years old and you are married today, now you hope that I will have one or two children in the next 5 years. So by the time I turn 65, both of my children will be 30 years old, and by 30 you expect them to become self-sufficient.

3). How Much Amount Of Insurance Should I Take?

So if I tell you, then you should take 20 times the cover of your annual salary, that is, if you earn 2 lakhs a year, then you should take insurance up to 40 lakhs, then it is very simple to take 20 times the insurance of your annual salary. if you earn 5 lakhs, then you should take life insurance of 1 crore.

4) When Should I Take Life Insurance?

Should be taken as soon as possible when you are at a young age because the premium in life insurance is fixed when you take it. just like I have just taken life insurance, By the way, I am not married yet, and no one is dependent on me but I am going to go ahead, so I have taken a little bit of that when someone is dependent after 4-5 years today the insurance is the only one which reduces the premium today just like if you take insurance in 25 years till 65 years because you are taking it at the age of 25, then the death of the first 10-15 years of death is less, chance the premium that we will pay in the next 40 years. my premiums have come down, and the same person will take the insurance at the age of 40 if he is already taking insurance at an age with a slightly higher death rate, then the insurance company will keep his premium higher. so the right way is that whenever you start earning, whenever you become satisfied that you can give 500-700-1000 rupees a month for insurance, you should take life insurance.

5) Which Insurance Should You take?

There are many ways of insurance.

1). Term Plan: As I have told you now from 25 years to 65 years, this term which is 40 years, which is a gap of 40 years, is insured in its middle. so this is called a term plan.

2). Hall Life: Regardless of your death in this, even after 100 years, your family will still get it. But the premium increases a lot.

3). Ulip Insurance: You also get returns in this. because some of your money is being invested in the stock market.

4). Andaman plan: In this, you get money, if you do not die for 60 years.

Apart from the site, there is a lot of insurance but I found the best term insurance out of it. in this, you get the highest coverage, in the least money, you save the most money in premium. so the money you are saving, you can put in stocks, in mutual funds, or anywhere. The money you put in will give you good returns.

It is not wise to get a little bit of return only from insurance because it insurance your premium a lot, so save the premium as much as possible and the money that is being saved is compared to other plans. put it so that the insurance gets more coverage so that if something happens to you, you have a good amount for the care of the family and keep the money that is left in the mutual funds so that even if you keep saving, mix the two. Only get insurance from insurance.

6). Whether Or Not Life Insurance Should Be Taken Alone

Life Insurance should not be taken alone, you should take two things with it.

As I told you that if you have a death, then your family gets paid, but what happens when you have a horrible accident, but your death is not. It means to say that your death has not happened but even then if you are not able to do anything then what will happen in that case. If you have not died in this, then you will not get insurance money, but now your condition will be such that you can earn by going but you still need money. so for this get a disability to add on with life insurance. That is, you will get this money even when you become disabled or are not able to work. so this rider must also be taken because if you ever come in such a situation, you will get the money, this is why you must take it with a rider's life insurance.

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So this was the complete information to choose Best Life Insurance, Hoping you would have liked it, then please share it with your friends and tell in the comment.