What is Life Insurance?
A life insurance plan is a contract between an insurance policyholder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium after a set period or upon the death of an insured person. Life insurance offers you and your family financial protection.
Types of Life Insurance
Whole Life Insurance
Universal Life Insurance
Term Life Insurance
Benefits of Life Insurance:
Life insurance refers to an agreement between an individual and an insurance company under which the latter promises to provide a sum assured (death benefit) to the family of the life assured in the event of an untimely death of the life assured. In case of no death, a sum assured known as the maturity benefit is provided at the time of maturity of the policy under certain life insurance plans. There are many reasons to buy life insurance:
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