Life Insurance
Savings and Investment: Some policies offer maturity benefits and returns on investment.
Life Insurance is a contract between an individual (the policyholder) and an insurance company, where the insurer promises to pay a predetermined sum of money (the “sum assured”) to the nominee or beneficiary upon the death of the insured person or after a specified period. In return, the policyholder pays regular premiums to the insurer.
Savings and Investment: Some policies offer maturity benefits and returns on investment.
The primary purpose of life insurance is to provide financial security and support to the family or dependents of the insured in the event of their untimely death. It acts as a safety net, ensuring that loved ones can manage expenses such as daily living, education, debts, or future financial goals, even in the absence of the breadwinner.
- Savings and Investment: Some policies offer maturity benefits and returns on investment.
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