5 Surprising Benefits of taking Life Insurance Policy


Everyone wants to be secure in this world. Whether in the terms of life or anything they own. When we are facing risk in life or risk of loosing our assets, then its time to outsource your risk to the third party. This procedure of transferring your risk to the other party is getting insured. You must be wondering why to waste money on premium instead its better to keep the asset or health safe. So here I have an answer to this.

5 Surprising Benefits of taking Life Insurance Policy

5 Surprising Benefits of taking Life Insurance Policy

1. Protection from risk:-

The first and foremost thing that comes to your mind when you think of insurance is risk cover. Life today is full of uncertainties, so its better to protect yourself rather than facing the adverse situation. In the hour of loss, insurance companies redeem you for the loss amount and shift you to the position of break-even [no profit no loss] instead of loss position.

2. Tax advantage:-

It is very difficult nowadays to be protected from the cruel hands of government. Tax is one of their “Brahma Aastra“. So its better to plan in such a manner so that you have to minimum tax possible. Taking insurance provides various tax advantage [at the time of deposit as well as withdrawal]. Death benefits are usually tax free or the other ones may be allowed as deduction.

3. Protection from increasing health expenses:-

The scenario has changed. Life expectancy has increased as the science has found various ways of treating the diseases. But this science and technology do not do the miracles free of cost. You have to spend a certain amount on such. Death rate must have decreased, but the expenses of treatment have increased manifolds, so it’s better to protect yourself from the ever increasing health expenses by getting a medi claim policy. You will be reimbursed for the expenses you go through or even the whole lot of money bag will re paid you back by the insurance companies by following certain terms and conditions.

4. Taking loans:-

Yes, you read it right, you can also take a loan. The policy holders are also allowed to take loans against the policy amount for the needs that arise in life. The brownie point is that the policy benefits will not be affected at all. The only need is that you must have paid premium for minimum 3 years and other terms and conditions vary from company to company.

5. Good option of investment:-

Insurance acts as a good option for people who are interested to invest their money. Buying an insurance policy lets you gather wealth and meet all your demands that may not be fulfilled in other investment products. As insurance policies can be tailor made. They protect our investment side by side they give us an additional benefit of asset appreciation. Taking insurance as an investment option may not lead you to tremendous gains, but it can surely provide you security in meeting up of demands right now as well as of your family after your death.