This Diwali Give Life Long Financial Security to Your Family with Life Insurance

Gift-giving is an ancient and integral Diwali custom that we all follow to this day. The happiness you experience when you receive a heartfelt gift cannot be matched by anything else! But not all gifts need to be gift-wrapped and given by hand. One of the greatest gifts you can give your family is ‘security’. And this security can be obtained by gifting your loved ones with a comprehensive life insurance policy. Life insurance protects your family against future uncertainties to ensure their eternal happiness! 

What’s more, the premium for some insurance policies can go as low as ₹100 a month while providing a cover worth several lakhs. This attractive pricing making life insurance the perfect Diwali gift. After all, preserving the hopes and dreams of your loved ones is undoubtedly one of the most thoughtful gifts your can give this Diwali…  

Let’s look at some of the reasons why a comprehensive life insurance plan serves as a wonderful Diwali gift. 

Security Against an Uncertain Future 

Don’t let the stress of life bring down your family’s joy! A life insurance plan ensures that your loved ones can fulfil their dreams even in your absence. The peace of mind you and your family will enjoy after getting a life insurance plan is simply indescribable in simple words! Moreover, if you get a term insurance plan, you can get a high life cover amount for a relatively low premium cost. Additionally, you can enhance your life insurance coverage by paying a small additional premium fee. These additional benefits/riders can help you prepare for unforeseen events such as a critical illness diagnosis, accidents, disability etc.  

It gives an Opportunity for Savings! 

As a responsible breadwinner, growing your family’s savings will be one of your top priorities. Guaranteed life insurance plans, whole life insurance plans, and Unit-Linked Insurance Plans (ULIPs) all act as savings instruments that also provide life cover. The first benefit that all life insurance plans enjoy are tax benefits under Section 80C & 10(10D) of the Income Tax Act of 1961. Insurance premiums are tax deductible under Section 80C, while returns and life cover payouts are tax exempt under Section 10(10D). 

Additionally, savings insurance plans offer returns in the form of maturity or survival benefits. Maturity benefits are paid out at the very end of your policy term, while survival benefits are regularly paid out during your policy term itself.  

Inculcates Financial Discipline 

Modern-day banking systems conveniently allow you to automatically deduct the premium amounts from your account. This allows you to create a systematic savings system with no effort at all! If you wish to teach your child the value of financial discipline, you can simply pay the initial five premiums and have them pay for the rest via automated transfers. This will help them understand the value of saving funds for premium deduction.  

Assists in Retirement Planning 

Your parents toil their entire lives to make ends meet for the family, which is why it is important to help them plan for their retirement. Life insurance plans are a must-have for those who want to live a stress-free life post-retirement! Some life insurance plans also offer a pension system that helps you maintain a regular income after your retirement. Retirement plans can help you maintain your standard of living, cover medical expenses, and even pay for your dream vacation during your golden years. 

Festivals are a time to celebrate with your family and ensure that their happiness persists for years to come! Insurance plans can help you safeguard your loved ones far into the future, even when you’re no longer around. Edelweiss Life- Zindagi Protect Plus is one such life insurance plan that can secure your family in your absence. This life insurance plan not only provides life cover but also offers additional protection via the Better Half Benefit and Child’s Future Protect Benefit options. Moreover, Edelweiss Life- Zindagi Protect Plus even offers a Return of Premium option, meaning that you’ll get back all premiums paid if you survive until the very end of your policy term! 

This Diwali, make a wise decision by determining your current and long-term financial objectives. Make smart financial investments and use modern life insurance plans to your benefit to create a bright future for your family. 

Siddhant Dubey - Writer & Photographer 

Siddhant works as a freelance content writer who is interested in a wide range of spheres from photography and personal finance to cooking. He is also an aspiring photographer striving to showcase life around him through his vision.