Few people in their youth think about where to find financing in unforeseen circumstances. The future looks bright and cloudless during this period. However, no one can 100% eliminate the risk of unforeseen events. Life insurance can lay a straw.
In addition to the obvious task – life and health insurance – it can help solve another task – to raise capital that will not be superfluous at any age.
An insurance policy gives confidence in the future, which is so necessary for a modern person. It allows you to minimize the financial risks if, for example, a car crashes, something happens to a house or apartment. Another thing is that with such a responsible attitude to property, not everyone treats their health the same.
In the modern world, first of all, you need to be confident, and it is better to start laying hay at a young age.
Life insurance allows a person to recover from illness or injury at the expense of the insurance company. It helps to close loans in case of loss of earnings or loss of business. Another task that insurance solves is capital formation for the future.
For this purpose, there are cumulative life insurance (CLL) products in the product range of insurance companies. Of course, you can save with the help of a deposit, but here several functions are combined at once – cumulative and direct insurance.
It is no accident that interest in the NSJ continues to grow in Russia. For example, a teenager who wants to buy a car can calculate, with the help of an insurance company, how long it will take if he starts saving now, and how many transfers he needs to make monthly or quarterly/year. And three or four years later, after receiving a payment, sit behind the wheel of a long-awaited car. In the office or through a banking app, you can choose the payment amount, term, size and frequency you want and refer to a user interface in a few clicks.
To calculate the removal amount for monthly payments, you need to analyze your income and expenses. If we subtract the compulsory expenses (tuition, travel, utilities, etc.) from the guaranteed income (salary, scholarship, etc.), we get the conditional amount of free funds.
As a rule, the payment should be 15-20% of the monthly budget. With the increase in income, you can change the insured amount and pay more. But it is better to start with a comfortable number. As for the term, in most cases we are talking about a three to five year planning horizon – during such a period you can accumulate solid capital without hurting your wallet.
A recent study by SberLife Insurance showed that young people in Russia find it necessary to save at least 17% of their monthly income. At the same time, the average amount of savings for 5 years, according to survey respondents, should be 1.2 million rubles.
Meanwhile, life insurance teaches discipline, among other things. This is an opening product that will require being able to pay on time. After all, early termination can have financial consequences.
Source: Gazeta
Dolores Johnson is a voice of reason at “Social Bites”. As an opinion writer, she provides her readers with insightful commentary on the most pressing issues of the day. With her well-informed perspectives and clear writing style, Dolores helps readers navigate the complex world of news and politics, providing a balanced and thoughtful view on the most important topics of the moment.