Quite a few misconceptions about insurance prevail on an individual's mind. As you read on, let those cobwebs get cleaned up for some fresh ideas to enter.

Many of them do not believe in insurance and the most common reason being that nothing will happen to them since they have enough cash reserve to take care of if any thing should happen to them. Some of them might make few provisions but is that sufficient? They fail to understand that in a financial crisis they would turn to the untouched cash reserve forgetting the purpose for which it was planned.

A few of them believe that it is suitable for those who have financial dependants. Considering this fact and also the high rate of marriages in India there should be more numbers picking up insurance policy but unfortunately the percentage of the insured is very low. Insurance awareness comes in only after the other financial planning has been taken care of. People consider, paying premiums as huge expenses. Instead of getting smart, they look at insurance premium payment as burden.

The other misconception is that only the breadwinner of the house should get insured. The low percentage of housewives insured proves this fact. Is only insuring the main earner of the family important? No, not at all. Even your wife needs insurance as much as you do. Some get away from insurance agents giving excuses like "I do not live in high-risk areas like flood-affected areas so I don't think I really need insurance." You need to think again if you feel you have sufficiently insured. There are so many risks that one needs to guard against. Do not let some misconception abstain you from buying insurance. Your assumption is based on mistaken belief. You never know when you might start regretting your decision. It has never been a waste atleast the ones who have bought insurance. Get yourself adequately insured and you can have a sound sleep every night because you know insurance has laid its safe hands on your future.

These are nothing but just some of the misconceptions that needs to be cleared. If you are confused with what policy to choose, read below what you can do help you find your right pick.

A pure term policy will help you stay covered for a specific term. It is advised to have this policy if you have some financial obligations to perform like repayment of loans, etc. If you want protection throughout your life then whole life policy should work better for you. If you wish to receive money at periodical intervals, all you would need to do is opt for money back policy that would aptly fit to your need that would arise at intervals assuming, child's education, marriage etc.

We see ourselves in our children and we want them to have a better life than we did. We had a dream to have our own business and probably saved for years and sacrificed to get started. We saw opportunities where others saw problems. At opportunities knock we jumped in to get the best. We have given our best to keep our family smiling; you know your work is the source of income for our families. Then why let everything ruin with just a little premium payment. Life insurance has helped so many families enjoy peace of mind and will continue to do so for years to come. Then why should you stay away from it?