Whole Life Insurance Policy Truth

Is Whole Life Policy Buying A Good Idea?

Whoever said “be prepared” must have worked in the Insurance Industry. People have always been encouraged to exercise their foresight and plan ahead.  This may be because of the precarious way we live today, or it might just be because there are more of us who are more than a little paranoid of what the future holds for us.  In any case, availing of a Whole Life Policy lends a helpful hand to those who wish to be ready for anything. 

According to a recent survey, only around 20% of India’s population is currently covered with life insurance.  That means that there are only about 234 million of the 1.17 billion people who are assured of some form of help when the family’s main wage earner passes away.  Though this may be the case, there have been evidences pointing to the fact that a significant percentage of the growing population are leaning into this principle.  Currently, more and more people are availing of the whole life policy insurance because of all the ways it assures their families of a good life after they themselves are gone.

For those of you who are interested in looking into these, we offer a short and snappy overview of some of the plans available in the market today.

  •  The ING New Fulfilling Life Plan Anticipated Whole Life Policy that is brought to you by the ING Vysya Life Insurance Company Ltd, offers you the benefit of life cover as well as regular returns on your premiums, and, depending on the policy you take out, you could receive a double of the sum assured.  You may contact their offices for information on this campaign.  People from the ages of 14 to 54 are welcome to apply.
  • The Jeevan Anand Life Insurance Policy from LIC India gives customers a combination of life insurance and endowment options in cases where the premium payments have not been fully paid due to the policy holder’s untimely demise.  Those who are 18 to 65 years of age may avail.
  • The Aviva Save Guard by the Aviva Life Insurance Policy India is likewise whole life policy plan that combines the benefit of life insurance with the option if endowment by means of investment opportunities.  Age bracket of qualified applicants is from 0 – 70 years of age.
  • The TATA AIG Life MahaLife Plan offers a fixed premium payment term and guarantees lifelong coverage with the option of assured payouts. This plan is open to applicants from ages 0 -100 years.  They have schemes that can provide you with guaranteed monthly payouts, and encourage customers to contact the nearest office to know more.

Shopping around for the best insurance policy is not the easiest thing to do, especially if you are searching for the one that suits your lifestyle the best.  If you may, this undertaking is more like a chore than a choice; it entails more responsibility than merely picking something out randomly, or for trivial reasons.   At this day and age when we never know what life may throw at us, having whole life policy insurance is not optional, it is necessary.