Protect Your Family

Protect Your Family 

Protection article 

None of us like to think about the inevitability of death. If we have people dependent on us and our income we owe it to them to think about such inevitability.   However absurd it might sound, just think for a minute, what would have happened had you not reached home last night?  What would have happened to all the outstanding debts? What about the money that you give to your family every month?  If you are a businessman what would have happened to your business? Would it have continued to run the way it is running?  Life insurance is an answer to all of the above questions mentioned. 

 

There are two ways to ascertain how much life insurance one needs.

 

Human Life Value:

Human life value essentially is the present value of future income that you could expect to earn till retirement.

 

Need based approach/ Asset V/s Responsibility Gap: 

This is the approach where you list down all the responsibilities you have, which includes- Present value your monthly contribution to your family, all the liabilities like credit card outstanding, personal loans, housing loan etc and the responsibilities like children’s education, marriage etc on one side and all other Assets you own on the other.  Assets would include your existing life insurance cover, liquid cash, FDs, PPFs, MFs, Bonds etc and spouse income.

 

The gap that you arrive will be the insurance that you need. 

 

Please contact us today to understand how you can protect your family for financial uncertainties.