Why Life Insurance
Are you looking for a Life Insurance product?
Well, this section may help you to understand the life insurance and its importance. In general, the Life insurance provides financial security to the family in case of the unfortunate death of the policyholder. Life insurance can enable the family of the policyholder to stay financially independent without any compromise in lifestyle. In other words, Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period. A life insurance policy can be a good saving/investment plan for the future or a pension/post-retirement plan. This depends on the type of policy.
Now you can understand why the life insurance is compulsory to everyone individual and firms. About 10 percent individuals and firms in India have a huge accumulated funds that can fulfill the requirements of their successors but the history reveals that there is no guarantee on this assumption because accumulation may be destroyed any time due to any of reason. The remaining 90 percent population and firms have to secure the futures with the liabilities in case of unfortunate event. Thus the life insurance is one and only one key solution in this situation because it has so many features that can provide the unique solution for everything. Therefore, everyone should have an expert advice of experienced financial advisor for proper financial planning.