In the last one decade, the perception behind buying a policy has changed because of expensive cost of homes which lead to high anxiety levels among home owners. Banks act as influencers in getting their clients look at death as the unavoidable, especially when customers are doling out expensive education or home loans. Insurance experts suggest a wide range of plans available in the market today for buyers. Today, people do know the importance of owning a policy.

It is the most essential part in a person’s financial strategy which offers wealth creation benefits and valuable protection as well. Life insurance is a long-term investment product and it should be purchased on a need-based analysis.

Under this insurance, people can save for child education plan, loan protection or for retirement safety. People need to identify the gap that exists in their current financial portfolios.

One you done with this task, you can easily find the suitable life insurance policy online. There are various online sources available that give online comparison of different insurance policies in terms of costs and features. Shortlist the insurance service provider and understand all policy terms related to payment, maturity benefits, applicable charges and life coverage.

Do not forget to check the performance of the fund of the companies if person is planning to purchase a unit linked policy. This is the plan which ensures that the financial corpus planned for the future of policyholder’s child is available when parents are not around to take care of their needs.

Generally, online child plans are available with a premium waiver benefit to make sure that each pending premium is paid for the policy upon the unfortunate death of the parent. Usually, pension plans provided by life insurance companies in India provide the benefits of investment and insurance both. One third portion of the fund is available for the insured person on survival of the policyholder and the remaining portion drops into an annuity for monthly income.

Online pension plans from insurers are available on traditional and ULIP platforms. People can select either based on their risk level. Now, such plans are available with a guaranteed capital. It is advisable to start investing at the beginning of their career to build a substantial corpus.