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How Does Life Insurance Protect You Against Inflation?

Life insurance is crucial for protecting your financial future from inflation's effects. As inflation reduces the value of money over time, having enough life insurance becomes more important. With inflation rising in the country, buying a life insurance policy is smart as you can ensure your loved ones are financially secure against rising living costs. Let us discuss how life insurance helps shield against inflation's impact on your family’s financial stability and long-term goals.

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What is Life Insurance?

Life insurance plans help secure your family financially in case of your unfortunate death. All you have to do is pay your premiums for the policy term, and during that tenure, if you suffer an unfortunate death, your family will receive the sum assured and selected at the time of policy purchase. Broadly, life insurance plans can be categorized into two simple types:

  • Term Insurance Plans - Term life insurance plans are pure protection plans that offer a death benefit as a lump sum payment to your family/nominee in your absence at affordable premium rates. Term plans are the most efficient and affordable life insurance policies and offer high life cover at low premium rates.

  • Savings Plan - These plans provide a guaranteed payout at regular intervals to meet your financial goals, such as buying a house or paying for your child’s higher education, while providing life-cover benefits.

*Note: You can use the term insurance calculator to easily estimate your term insurance premium.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

How does Life Insurance Protect against Inflation?

Life insurance protects you against inflation in the following ways:

  • Financial Security: Life insurance ensures that your loved ones receive a set amount of money when you pass away, helping them stay financially stable despite inflation.

  • Locked-in Premiums: The premium you pay for life insurance stays the same throughout the policy's duration. This means your payments remain affordable even as inflation rises, giving you peace of mind.

  • Long-Term Stability: Getting life insurance early ensures greater protection at a lower cost. Over time, factors like age, inflation, and risk changes cause premiums to rise. Buying life insurance early benefits you from lower premiums, leading to substantial financial gains in the long run.

  • Protection from Price Increases: Life insurance keeps your coverage amount the same, regardless of inflation, so your family gets the full benefit no matter how prices change in the future.

  • Covers Future Expenses: The money from life insurance can also pay for future needs, like medical bills or funeral costs, which may become more expensive as inflation increases.

one crore term plan

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₹1 CRORE

Term Plan Starting @ ₹449/month+

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How can you buy life insurance plans from Policybazaar?

Now that you have understood what is term insurance and life insurance are, you can follow these steps to purchase a life insurance policy from Policybazaar:

Step 1: Visit Policybazaar’s official website and click on Life Insurance.

Step 2: Select the type of life insurance plan you want to purchase, i.e., term or investment plan.

Step 3: Fill in your basic details like name, DoB, contact number, and gender.

Step 4: Answer all questions regarding your smoking and chewing tobacco habits, annual income, occupation type, and qualifications.

Step 5: Select the best term plan most suitable for you and proceed to pay.

Wrapping It Up!

Life insurance serves as a crucial safeguard against the rising inflation on one's financial stability. With life insurance plans, individuals can protect themselves and their loved ones from the rising costs of living. With life insurance, financial security remains secured against the effects of inflation, providing peace of mind for the future.


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