Blogging Heros
Most people think life insurance is for people with families. Or for older people. Or for rich people.
All wrong.
Everyone who earns needs life insurance. Let me explain why.
What Life Insurance Actually Does
Strip away all the complicated talk. Life insurance does one simple thing. You die. Your family gets money. That’s it. No investment. No savings. No returns. Just pure protection.
Your salary stops when you stop living. But bills don’t stop. Loans don’t stop. School fees don’t stop. Life insurance fills that gap. Keeps your family going when you can’t.
Why Young People Need It Too
Twenty-five years old. Single. Healthy. Why buy insurance now?
Because it’s cheapest now.
At 25, you pay maybe 8,000 yearly for 1 crore coverage. Wait till 35? Same coverage costs 18,000 yearly.
Wait till 45? Costs 35,000 yearly.
Every year you delay, the premium jumps up. Your health might change too. Diabetes, blood pressure – these come without warning.
Buy young. Pay less. Stay protected longer.
The Family Scenario
Most obvious case. You have a spouse and kids. You’re the main earner.
Your monthly salary is 80,000. That’s 9.6 lakhs yearly. Family runs on this.
If you die, that 9.6 lakhs disappears. How does the family manage?
The home loan of 35 lakhs needs to be paid. Kids’ education will cost 25 lakhs. Daily expenses for 10 years need 50 lakhs.
Total? Over 1 crore easily.
This is why finding the best term life insurance in India becomes crucial. Not optional.
What Makes Insurance “Best”
People ask – which is the best term life insurance in India?
No single answer fits everyone. But check these things:
- High claim settlement ratio: An Above 96% means the company actually pays most claims.
- Low premium: Obviously, you want to pay less for the same coverage.
- Simple process: Buying should be easy. Claiming should be easier.
- Good reviews: What do actual customers say? Read online reviews carefully.
- Flexibility: Can you increase coverage later? Can you add riders?
Compare at least five companies on these points. Then decide.
How Much Coverage You Need
Don’t guess this. Calculate properly.
Add up:
- All your loans (home, car, personal)
- Family living expenses for 10-15 years
- Children’s education costs
- Parents’ care costs if applicable
- Marriage expenses if kids are young
This total is your minimum coverage needed.
Most people need between 50 lakhs and 2 crores, depending on their situation.
The Cost Reality
Life insurance isn’t expensive. Really.
A 30-year-old paying 12,000 yearly for 1 crore coverage. That’s 1,000 per month.
Less than your Netflix and streaming subscriptions combined.
Less than one weekend outing.
Less than your gym membership.
For 1,000 rupees monthly, your family gets 1 crore protection. Fair deal?
Online vs Offline Buying
Buying life insurance online usually costs less. You cut out the agent commission. For the same coverage, online might be 2,000-3,000 cheaper yearly.
But online means you handle everything yourself. Forms, documents, tracking. Agents charge more but give personal service. Help with paperwork. Guide you through.
Your comfort level decides which way to go.
Common Excuses People Make
“I’ll buy next year when I get an increment.” Next year, you’re older. Premium is higher. You might develop health issues.
“My company gives insurance.” Company insurance ends when you leave job. Your own policy stays forever.
“I’m healthy, nothing will happen.” Accidents don’t check health before happening. Illness doesn’t send advance notice.
“It’s too expensive.” You spend more on phone upgrades. This protects your entire family.
Types of Riders Available
Basic life insurance pays on death. Riders add extra coverage.
- Critical illness rider: Get money if cancer, heart attack, or kidney failure happens. Helps with medical bills.
- Accidental death rider: Extra amount if death is from an accident.
- Waiver of premium rider: If you get critically ill, the company waives future premiums. Policy continues.
Each rider costs extra. Add only what you need. Don’t buy everything blindly.
Tax Benefits You Get
Premium paid qualifies for tax deduction. Section 80C allows up to 1.5 lakhs yearly.
Someone paying 15,000 premium saves about 4,500 in taxes.
Nice bonus. But buy life insurance for protection, not for saving tax.
Tax benefit is extra. Family security is main goal.
Documentation Needed
Keep these papers ready when applying:
- Age proof (Aadhar, passport, birth certificate)
- Address proof (Aadhar, utility bills)
- Income proof (salary slips, ITR, bank statements)
- Medical records if you have any recent reports
Having documents ready speeds up process. You get policy faster.
The Bottom Line Truth
Life insurance isn’t about being negative. It’s about being responsible. You lock doors when leaving home. Wear a helmet while riding. Keep medicines at home. Life insurance is the same. Basic safety measures.
You work hard for your family. Make sure that effort continues even when you can’t. Get life insurance. Not someday. Today.
