What is Life Insurance
Life insurance is a contract between two parties, the insured and the insurer, where the insurer agrees to pay a given sum of money in the event of the death of the insured. The insurer can pay this sum of money as a single payment known as ‘single premium or equivalent periodical payments referred to as ‘regular premiums.
Life assurance is a way of providing financial security to your family in the following circumstances:
•Upon the death of the sole bread winner in the family
•Provision for old age by providing long term retirement plans
This will ensure the further financial stability of a person by ensuring the best returns by way of investment protection