Life Insurance ? Short And Long Term Insurance Plans

Just the other day I was wondering over the stories of my fathers? first job, promotion and his retirement. With the basic salary of Rs300/- in the year 1970, he was a happy young boy. Subsequently he got promoted, with a increase in his salary to Rs 1000/-. He retired with a salary of Rs25, 000/-, three kids and wife. He retired peacefully, meeting all his obligations, with his PF and NSS schemes. But, time has changed. Insecurity and uncertainly has crept in like a serpent in the house. With this we need more assurance ? of a peaceful and secured lifes.

With the bubble of insurance booming all around, things are much better. Investing in a life insurance plan, be it a term plan or a long term plan, gives assurance of a secured life. A life where one can lead a peaceful life, meeting the small and necessary needs. Insurance plans are the guarantee of a happy life ? pre or post retirement.

Be it a short term insurance plan or a long term plan, the idea is to secure the future. By working on his pros and cons, budget for the present and future, one can ensure a life filled with happiness, away from unnecessary anxiety, by taking a life insurance policy.

One can project something like this ? what is the best policy when he reaches the age of 30; which one to take when his child reaches the age of one; which policy to take when he reaches the age of 40?. (Taking Insurance Policy in the early years is best as the premium is low in younger years. It grows as with age.)

Taking Insurance Policy is generally decided by three factors ? age, income and requirements. All the three reciprocate each other, as they are deciding factors of the premium one can pay, the kind of insurance policy one should take, the riders or add ? ons one should go for and the number of years or term one should go for.

If you are the one who has not taken a life insurance policy yet and has a family to take care of, then you must go for an insurance policy as early as possible. Don?t delay much, for earlier the policy taken, less will be the premium and easy will be the responsibilities?

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