Having a baby is a life-changing event. Along with the delight your bundle of joy brings to your life, comes the realisation of responsibilities. It’s a time to celebrate and plan for the future, and one important aspect of planning is ensuring your child’s dreams come true and your family stays financially protected at all times. That’s where life insurance comes in.
Think big
You would naturally want your child to have the best of everything – be it education, a good home with a comfortable lifestyle and opportunities to spread their wings. When planning to have a baby, it is important to consider how you can ensure a good corpus to pay for your child’s education, without financial worries dogging you at any step of the way. Here’s where a Human Life Value (HLV) calculator can help you assess how you can save up to meet your life goals and ensure that your dependents continue to lead the same lifestyle they are accustomed to. Tools like HDFC Life’s Human Life Value Calculator can help you do this online in simple steps, allowing you to identity your life insurance needs on the basis of income, expenses, liabilities and investments. The Human Life Value calculator is an indicator of how much is needed to take care of your family’s financial needs should something happen to you. The easy-to-use tool lets you correctly choose a sound life insurance plan that can financially support your child’s journey through life even if you aren’t around anymore.
Guard against the unexpected
The past few years have shown us that life can be uncertain and that you need to secure your family’s financial stability at all times. A comprehensive life insurance plan that accounts for all possibilities like disease, disability or even death helps you stay worry free. A policy like HDFC Life Quick Protect ensures that your family can maintain their standard of living in the event of any illness or disability, by providing for monthly pay-outs or lumpsum payments should anything happen. In addition, Quick Protect is a quick and hassle-free plan, since you do not need to undergo any medicals to qualify for this policy. It also allows you to choose from three different packages for the sum assured. This helps provide a financial cushion to help your family pay for expenses such as housing, food, education, and healthcare should you be unable to continue an active work life. In the event of your untimely demise, the pay-outs from such a plan can help your dependents pay off debts, lead the same lifestyle they are used to and continue to work towards their dreams without worrying about the future.
Shield from inflation
In India, buying life insurance is especially important because it can also provide protection against rising inflation. The looming worldwide recession, the long shadow cast by the pandemic and an uncertain global political climate are indicators for us to start safeguarding our future against inflation and its long-term impact on our children’s future. The value of the money you have saved up may decrease over time due to rising prices. A good savings and investment plan like HDFC Life Quick Protect is the shield you need to ensure your family has the financial means to maintain their standard of living in the long term.
Starting a family and watching your child grow to their full potential can be one of the most fulfilling aspects of your life. Acting responsibly and thoughtfully to plan for their future right at the outset is the sensible path to take. With HDFC Life Quick Protect, your family is taken care of, for life!
