Importance of Life Insurance in Financial Planning

Financial planning is the process of meeting your life goals through the proper management of your finances. It includes elements of protection, wealth creation, planning for contingencies and emergencies, as well as planning for specific milestones in life. But is Life Insurance important?

Life Insurance is an important element of any sound financial plan. And as you age, get married, buy a home, build a family, and plan for retirement, the more important life insurance becomes.

Life Insurance should be a major part of your planning for the following reasons:

• Protection in case of unforeseen circumstances

• Wealth Accumulation & Liquidity

• Helps in fulfilling your needs at the right time

• Financial needs are taken care of in your absence

• Disciplined savings

• Tax benefits

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