What is Life Insurance?
Life insurance Policy or Life Coverage is a plan that pays the non-taxable lump sum benefit on our death or on any serious illness. A family’s survival is risked if its sole earner dies unexpectedly. The demise of a loved one creates a void that is hard to fill but his/her absence must not disrupt the financial future of the family.
Life cover Insurance is a contract that is between a policy-taker and a policy-making company, under which if an accident occurs unfortunately with the policyholder, then the insurance company assures some money to the nominee Are there. If included in the contract, then we can also trigger payment benefits, even if there are critical illnesses or extreme diseases.
If it is mentioned in the contract, a life insurance plan may also cover some other costs like funeral expenses as a part of the benefit. Life Insurance helps us to get rid of money problems at every level like Retirement, Disability, Critical Illness, Accident, Death etc. life is unpredictable and no one can guess never that what will happen next.
There is no premium calculator that can calculate the worth of human life. Life safety Insurance, which resides in the case of an unfortunate accident, related to financial problems in life.