Why Do You Need Life Insurance 

Understanding Life Insurance

Life insurance is like a safety net, offering financial protection when life throws unexpected challenges. It's a way to ensure your loved ones are taken care of if something happens to you. Understanding importance of insurance, particularly life insurance, means understanding how to protect your family's future, even when you're not there.

What Is Life Insurance?

Life insurance involves a deal with an insurance company. They pledge to pay a set amount to your loved ones when you pass away. In exchange, you pay regular premiums. These premiums depend on things like your age, health, and the coverage amount you choose . Learn more about how life insurance works here.

Benefits of Life Insurance

When people ask, 'Why is life insurance important?' it's because life insurance offers numerous benefits to the holder, such as ensuring that your lifestyle remains intact if you face a serious illness or disability, covering expenses like healthcare and childcare, and providing family protection for their well-being and education in case of your passing.

Reasons to Consider Buying Life Insurance

While you need to commit paying premiums over the long term, you can receive benefits in return. Here are some common reasons people buy life insurance:

Guaranteed Protection

A whole life insurance policy serves as a crucial financial safety net that guarantees your beneficiaries to receive a lump-sum payment, as long as all premiums are paid and there are no outstanding loans.

Income Replacement

The importance of insurance, particularly life insurance, lies in ensuring that your loved ones have the necessary funds to cover mortgage payments, afford healthcare, pay for tuition and college expenses and even help preserve a family business.

Cash Value Growth

As you pay your premiums, your life policy accumulates cash value, tax-deferred, and can assist in achieving various financial objectives, such as supplementing retirement income to establishing an emergency fund.

Types of Life Insurance in MetLife Bangladesh

Education: MetLife Bangladesh offers an ideal life insurance option named "My Child’s Education Protection Plan”, that is designed to secure your children's future education expenses and safeguard them from life's uncertainties.

Savings & Investments: Our savings and investment plans enable you to enjoy your desired lifestyle today while strategically planning for a secure future.

Health & Protection: In Bangladesh, MetLife offers various types of health protection and medical insurance for more peace of mind.

Retirement: Effectively plan for your retirement without financial dependence on others. Our retirement plans are designed to help you build a stable income for your future retirement needs.

Takaful: For those who want Islamic insurance, MetLife Bangladesh provides Takaful protection that is aligned with Islamic law and Shariah guidelines.

Click here to learn about MetLife’s range of life insurance products. You can also give MetLife Contact Centre a call for information about insurance policy in Bangladesh.