The time has come to ensure the safety of our dear siblings and loved ones on the meaningful celebration of Raksha Bandhan. In today's hectic and stressful lifestyle, there is a risk of getting many diseases. So, nothing can be a better gift than a comprehensive life insurance plan to fulfil its promise of safety and security?
As per the general view, men should have life insurance as they are usually the primary earners of the family. Unfortunately, even now, the perception remains the same when women work and feed their families. Forget the traditional cash and chocolates to gift this Rakhi, as you can take away the financial and emotional burden of your dear sister by gifting her any comprehensive life insurance plan. While there are various investment options are available in the market, the following are some of the top life insurance plans that you should consider:
- Term Insurance
Help your sister by investing in a term insurance plan for the family's financial security. There are many term insurance plans available to choose from. Term insurance is the purest form of life insurance in which the beneficiary will get a lump sum amount in case of the death of the policyholder within the policy tenure.
- Unit Linked Investment Plan (ULIP)
Unit-Linked Investment Plan (ULIP) is a combination of insurance and investment. It can help your sisters by providing dual benefits of insurance and investment. ULIPs for women are ideal for long-term goals. ULIP plan is designed for wealth creation and life security. This plan invests your money in market-linked funds and allows you to customize your ULIP plan per your needs and requirements.
- Tax Saving Plans
If you are searching for the best life insurance policy for your sister, you need to consider several factors such as premium amount, policy term, sum assured, type of cover and claim process. Apart from this, tax benefits are also essential factors that make life insurance a worthy option for your sister this Rakshabandhan.
Ensuring that your sister is working towards financial independence is an excellent idea as women compete with men in every field. After all, uncertainty is a part of life, and the only way to avoid it is to be prepared. You should help your sister as a friend and financial advisor to ensure her money is invested to earn a profit rather than sitting inert in a savings account. As a good sibling, you can help your sister accumulate a corpus in life plans by assisting them in investing in the life insurance plan.
The brother-sister relationship is strengthened more than on any other day than Raksha Bandhan. Make your Rakhi special by focusing on your most lovable siblings' health and well-being as you resolve to take care of your sister or defend your brother no matter what this year. Keep in mind your family members and plan for their financial security.