What is Life Insurance?
A promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company, or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policyholder a sum of money upon the occurrence of a specific event.
Life insurance is protection against financial loss resulting from an insured Individual’s death. In realistic terms, life insurance provides you and your family the financial security and certainty to deal with the aftermath of any unseen unfortunate events.
Here are few common things which insurance policy covers
Policy Contracts
A complete documentary that provides general information such as policy packages, duration of the policy, information of what’s insured, and most coverage limits.
Insurance Aspects
This section will define the insurer’s responsibilities, it includes activities such as cancellation of policies, premium plans, etc.
Insurance Endorsement
In the future, if you feel there is a need to do some changes in the current policy then insurance endorsement policy is the best category for this to meet your needs. You can add later whatever changes you want in your policy contract.
Life Insurance Provide Financial security to your family in case of any mishappening with Bread earner. By taking life Insurance you can save your Family by against your Loans, Future Financial requirements, and any type of Financial Needs.
Life Insurance FAQ
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What is Life Insurance?
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Why is insurance important?
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What are ULIPs?
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What are traditional insurance plans?
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What is a Benefit Illustration?
