life insurance – Hello friends welcome to today’s new articles friends today we bring you important news friends today let’s learn about what is life insurance friends life insurance policy is a contract between an individual and an insurance provider In which insurance company pays monthly fee to the policy holder Provides financial security Based on this arrangement helps the policy holder in case of death or policy maturity Friends so let’s know the complete information about it before that join the below whatsapp group and to see such new updates be sure to comment us and let us know about this How did you feel about the article?
Friends let’s know what is the meaning of life insurance A life insurance policy is a contract between an individual and an insurance provider based on the arrangement that the insurance provider pays a lump sum to the individual or his family after some time after the death of the policyholder or the policy lapses.There are various types of life insurance policies in the market to meet the individual demands and needs of the policy buyer. Life insurance plans help meet various financial goals of an individual and their family and there are certain goals that a life insurance policy helps an individual to achieve.
1- Financial protection in case of death
2- Education for children
3- Marriage of children
4- buying a house
5- Pension or regular income after retirement
You can achieve certain financial goals with the help of life insurance plans. Life insurance plans are very versatile. You can plan for the life goals you have set and your insurance can help you achieve them
Different types of life insurance
- Term Life Insurance Plan – Pure Risk Cover
- Unit Linked Insurance Plan – Investment opportunity with insurance
- Endowment Schemes – Insurance and Savings
- Money Back – Insurance with periodic returns
- Child’s Plan – Children’s life goals such as education and marriage
Benefits of life insurance plan
Security – Life is unpredictable and can be full of uncertainty. It is difficult to reduce the chances of an unfortunate event like death. In such a situation where there is no continuous income, the family faces financial problems.The life insurance provider is bound to pay a predetermined sum assured to the nominee or beneficiary so that the policyholder’s family is protected in their absence.
Long Term Savings – If one wants to invest for the long term then life insurance is a must to consider. Insurance plans help you to systematically save and build a fund that can be used for various purposes like building a new house, better education of your children and marriage expenses of your children.Not only that, some life insurance policies offer monthly payouts in the form of annuities, which are an ideal way to prove you can achieve your retirement goals.
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