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2 mins Read | 5 Years Ago

Five Reasons to Buy Insurance

reasons to buy life insurance

Over the years, as you toil hard to build a pool of finance for your family, you would want to do everything in your capacity to keep the funds protected. Accidents are a reality and it can happen to anyone and at any time without any warning. And if you do not have a sufficient insurance coverage it could ruin your finances. You need insurance to protect your life, health, business and other assets. If you are still wondering why you must invest in an insurance plan, here are 5 reasons to buy insurance:

Ensures complete protection to your family members

As a breadwinner, you are obliged to take care of your family’s financial needs; they depend on you to enjoy a decent standard of living. Therefore, having an insurance policy is pivotal when you start a family. The insurance will provide your family members protection against financial hardships that may arise in the event of your untimely death or any other unexpected event that would lead to loss or income.

Helps reduce stress during difficult times

Tragedies can strike any time - be it an accident, permanent injury, illness and even death. When such incidents occur, apart from causing tremendous emotional stress and grief, it also causes financial hardship. Whilst you cannot prevent these incidents, you can be better prepared to tackle these incidents and one of the best ways is to buy insurance online that would help your family get financial support. This would not only help reduce stress, but will also help you focus on your recovery and rebuild your life.

Get peace of mind

It is no denying the fact that no amount of money can replace your well-being and health or the role you play in your family. But, you can ensure that you have a peace of mind knowing that you if anything untoward happens to you, your family will get the financial assistance that is guaranteed by the insurance.

Provides Financial stability and security

Irrespective of your present financial position, an unexpected event can drain your finances quickly. In the event of an unforeseen emergency, the insurance company pays for the losses so that you and your family can maintain the same standard of living as before.

Helps maintain business stability

Just like supporting your family in the event of your death, insurance can also help you get financial support in case anything goes wrong in your business. A lot of things can go wrong in your business; an important machinery or equipment can stop functioning or you may be forced to shut your operations due to natural calamity. Whatever be the risk, insurance policies provide coverage against it and help you keep your business running.

One of the most important aspects of buying an insurance cover is to do your research well; you need to determine exactly how much cover you need and choose the right insurance provider.



The contents of this document are meant merely for information purposes. The information contained herein is subject to updation, completion, revision, verification and amendment and the same may change materially. The information provided herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person‘s nationality, residence or otherwise) be contrary to law or regulation or would subject lClCl Bank or its affiliates to any licensing or registration requirements. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Please obtain professional legal, tax and other investment advice before making any investment. Any investment decisions that may be made by you shall be at your sole discretion, independent analysis and at your own evaluation of the risks involved. The use of any information set out in this document is entirely at the recipient's own risk. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith by lClCl Bank and from sources deemed reliable. There can be no assurance that such projections will prove to be accurate. lClCl Bank does not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith and sources considered reliable by lClCl Bank. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. 'lClCl ' and the 'I-man' logo are the trademarks and property of lCICl Bank. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.

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