By Mr. Mohit Rochlani, IndiaFirst Life Insurance
How does paying your premium regularly help?Take a look:
^ Start early, keep your premium low..!:
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| Mr. Mohit Rochlani |
As per the policy terms, life insurance companies offer to insure your life for decades at a time. It still makes financial sense to pay your premiums every time & avoid discontinuing your cover. This is because the next time you purchase insurance, your age of entry will be higher and so will be the premium that you are locked into paying for the rest of the term.
^ Delivers gains over the long term..!
For those who use insurance as a wealth building tool, some very beneficial laws of mathematics apply to your premium payments, especially if begun early & continued regularly.
^ Compounding..!
The law of compounding makes sure that even if you pay out small sums of money, you will gain substantially over the long term.
^ Systematic investing..!:
This insures that even if your money is being put into investment avenues like stocks, where the value fluctuates, your capital grows at the best possible rate.
About the author
Mr. Mohit Rochlani is Business head bancassurance & retention at IndiaFirst Life Insurance
Email: Mohit.rochlani@indiafirstlife.com
http://www.indiafirstlife.com
IndiaFirst Life Insurance Company Limited
301, 'B' Wing, The Qube, Infinity Park,
Dindoshi - Film City Road, Malad (East), Mumbai - 400 097
Corporate Office : +91 22 3941 8700
Toll Free (From India): 1800 209 8700
Contact No. (Outside India): +91 22 61164900
You may also alternatively SMS: < First > to 5667735
Call Centre Timings: Monday to Friday - 8 am to 8 pm
Saturday - 9 am to 1 pm
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