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3 Types of life insurance

What is Life Insurance? Get to know its various benefits &the types of life insurance. Learn about the principles of the policy and why you should invest in it.

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3 Types of life insurance

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  1. 3 Types of life insurance

  2. What is Life Insurance? • Are you unsure of what life insurance means? A life insurance policy is simply a contract between a person and an insurance company, under which the firm agrees to pay a predetermined sum of money to the person's beneficiaries or family in exchange for a series of payments over time. These payments, which go by the name "premium," are often made annually. The policyholder is the one who purchases the insurance. • Life insurance guarantees a lump sum payment to the family in the event of an untimely death of the policyholder. Money cannot replace the loss, but it guarantees that the family won't face any financial difficulties even after the death of the breadwinner. The life insurance policy gives you the necessary protection against risk and gives you the chance to increase your savings. It is also a useful tool for helping you save money for potential future needs like a child’s wedding or higher schooling. Particularly for people who have young children, or special needs children, want to ensure the financial security of their family or want to accumulate money over time, life insurance is important.

  3. Benefits of Life Insurance : There are 3 types of life insurance : • Life Insurance • Term Life Insurance • Retirement Plans

  4. Thank You

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