Know about Life Insurance

Tuesday, February 5, 2013


Know about Life Insurance | Features, Benefits Reviews, Premium, Maturity and Risk Cover

Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.

The contract is valid for payment of the insured amount during: 

  • The date of maturity, or 
  • Specified dates at periodic intervals, or 
  • Unfortunate death, if it occurs earlier. 

 Among other things, the contract also provides for the payment of premium periodically to the Corporation by the policyholder. Life insurance is universally acknowledged to be an institution, which eliminates 'risk', substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of the breadwinner. By and large, life insurance is civilisation's partial solution to the problems caused by death.

Life insurance, in short, is concerned with two hazards that stand across the life-path of every person: 

  •  That of dying prematurely leaving a dependent family to fend for itself. 
  •  That of living till old age without visible means of support.
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1 comment :

Arthy Rahul said...

Life insurance is a crucial financial tool that offers protection and peace of mind to individuals and their families. It serves as a contract that ensures a specified amount will be paid to the insured person or their nominee in case of unfortunate events such as death. By providing financial support during difficult times, life insurance helps safeguard the future of loved ones and acts as a vital component of overall financial planning. For more details, visit Key Man Insurance

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