Can we give a guarantee for our life?
Can we give a guarantee for the property?
But, yes we can give you a guarantee on your life as a financial return and security. Investing in life insurance is not the only investment it is also a security for your family.
Life insurance is a form of insurance in which a person makes regular payments to an insurance company, in return for a sum of money to be paid to them after a period of time or to their family if they die.
Understand the importance of life insurance, learn about types, features, and benefits of life insurance plans. Life insurance is an insurance that pays a lump sum amount upon your death, and the proceeds are typically 100% tax-free.
Life insurance is of two types:
- Temporary:- Term life is considered temporary life insurance it allows any additional money not being spent on the premium to be invested as it provides flexible, lower-cost coverage for people who need coverage for a period of time — generally from 5 to 30 years.
- Permanent:- Whole life insurance, on the other hand, is referred to as permanent insurance because it builds up a cash value and affords continuous protection for as long as the premiums are paid.
In a recent survey, India has about 57 crores of people has done with Life insurance.
Most of the people think that life insurance is an investment and only their family will get benefited. But life insurance is not only an Investment is also a savings to overcome from your future financial hassles.
Finally, protection Against the loss of life that lasts for your entire life.