Insurance is one of the most mis-understood concept and also the most mis-sold product. This presentation address the basic concept of Life Insurance and how important is TERM INSURANCE

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Do You Need Life Insurance?
If you're the sole breadwinner for a large family, with little
savings, then life insurance is essential
Unfortunately, too many people don't realize the
importance of life insurance until it's too late.

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If I die, why do I need Money ????
You DON’T Need Money... But Your FAMILY Needs Money
Why do I need Insurance?

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How much of your Future Income your Family Needs to
full fill your Children Education / Marriage and
comfortable Living ?
Insurance Sum is like a VIRTUAL MONEY BOX...
If you are there, it is not VISIBLE..
If you are not there IT IS VISIBLE TO YOUR FAMILY

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Ramu and Gopu were friends with equal
earning potential and family
responsibilities.
They are 30 year old and wanted to
insure their life.
They could afford Rs. 3000 Annual
Premium....

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Ramu decides to go for an Endowment
Policy of 1 Lakhs with Rs.3000 and expects
to Get Rs. 2.50 Laksh at his age of 58 yrs.
Gopu decides to go for a Term Insurance of
10 Lakhs with a premium of Rs.3000,
knowing well he will not get any money at the
end of premium paying period.

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Ramu and Gopu were
Travelling and their
Van met with an
accident and die on
the spot....

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Ramu’s Family gets 1 Lakh sum assured
and bonus of 30000, totalling the claim to be
1.30 Lakhs......
Gopu’s Family gets 10 Lakhs as claim
amount....
Insurance is about Covering premature
Death and Not about WHAT YOU GET
WHEN U ARE ALIVE.....

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Why Term Insurance ?
Term Insurance Endowment
Policy Term 30 years 30years
Sum Assured 20 lakhs 20lakhs
Annual Premium,Rs 5540 53960
Difference,Rs. 48420
Assuming You take a Term Insurance for 20 Lakhs and decide to
invest the difference Rs.48420/yr, then
Benefit Summary Term Insurance Endowment
Payment from Insurance
company at the end of 30years 0 4997928
From Difference money invested
in Post office 5,485,173

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Conclusion
Total Benefit considering Term + Investment in Post
office far exceeds the return from Endowment Plan
Premium for Endowment Plan is not affordable for an
individual.
It would be right decision to cover life for 20 Lakhs and
concentrate on Investment Plan.

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