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Life insurance policy guarantees death benefit payment to the beneficiaries if you die during the life of your active life insurance policy. Read on to know more.<br>
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What is Death Insurance ? • When it comes to securing the future of your loved ones, life insurance is one of the most preferred options among Indians. In fact, around 328 million Indians had a life insurance policy in 2017, according to the IRDAI's Handbook on Indian Insurance Statistics. • This still leaves 75% of Indians without any life insurance! The main reason for this is the lack of awareness among the population regarding life insurance. Most people know that life insurance guarantees death insurance benefit payments to the beneficiaries. But there is a lot more that you should know about death benefits.
Here are 5 things you must know about death benefits : 1.What is the Death Benefit? 2. What is Covered? 3. What is Not Covered? 4. Taxation of Death Benefit 5. Cash Value