Talking about life insurance may make people uncomfortable and raises several misconceptions about it.

Let’s clarify some common Life Insurance Myths-

Life insurance is not affordable: The simplest type-Term Plan provides at least 10 times monetary coverage against a small premium amount.

Group insurance is adequate: While companies cover employees with a group insurance plan, it is effective only till you are working with the company. Complete dependence on group plan is not advisable.

Insurance is for saving tax: Tax savings is just an advantage of insurance policy. The main objective of life insurance is to protect your family in case of an unfortunate event.

Insurance is for older people: Tragedy does not see age, gender or caste. It is advisable to get a life insurance as soon as one starts earning.

Only the breadwinner needs insurance: Every member of the family needs life insurance.

I am single and don’t need life insurance: Life insurance not just financially protects dependents but helps build an assured corpus for a relaxed retired life free of worries.

If you haven’t got a life insurance cover yet, get one now!

https://www.hdfcsec.com/life-insurance