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Life insurance for family protection

In today’s uncertain world, it is important to keep yourself and your family absolutely safe from any unforeseen harm. To minimise the negative repercussions of untimely circumstances, it is important to invest in a life insurance policy which helps build the strong foundation that is required to shield yourself as well as your family.

Life insurance offers your family much-needed protection during vulnerable time. It secures them against loan liabilities, debts, and financial obligations. It also ensures that your spouse maintains her or his standard of living, your children achieve every goal they have dreamt about, and your family never has to compromise on anything related to finances, even long after you are not around.

Things to Consider

How much do you need?

The amount of life insurance you need depends on several factors. But whether your policy is long term or short term, you have to choose one that offers you the right kind of benefits depending on your goals, aspirations, future expenses as well as your current life stage.

  • Life insurance offers you the peace of mind knowing that even if you are not around, your family will not be saddled with the responsibility of paying off your loans and sorting out your finances during vulnerable times. When you invest in life insurance, your housing loans, personal loans as well as your outstanding credit card payments will be covered.
  • Life insurance offers your family protection and financial stability even the unfortunate event of your demise. It ensures that their needs are always fulfilled and they are able to maintain their lifestyle even you are no longer around to provide for them. This means the financial independence of your spouse, higher education for your children, and the retention of your family home.

Types of Plan that can help:

  • Term insurance - Term policies offer you comprehensive and affordable coverage and safeguard your family against unforeseen events such as loss of income and outstanding loans. When you invest in a term plan, you will have to pay a cost, known as Premium. The coverage that you enjoy can range from 1 year to 30 years, depending on the policy you choose. In the unfortunate event of your demise, your beneficiaries will receive a lump-sum payment immediately which will secure their financial future. To know more about Reliance Life Insurance Term Plans, click here.
  • Credit Guardian Plans - Credit Guardian Plans help protect your family from loan liabilities, debt and financial obligations in the event of your untimely demise. It ensures that your personal loans, housing loans as well as any outstanding credit card bills are taken care of when you pass away, so that your family is not burdened with dealing with it at a vulnerable time. You can choose the interest rate so that your life cover amount can be decreased accordingly, thereby ensuring that your policy will always be able to pay any outstanding debts. For more information on Reliance Life Insurance Credit Guardian Plans, click here.