Life insurance refers to the legally binding contract between a policyholder and an insurance company that provides financial protection to his/her family. The insurer promises to offer the insurance benefit in exchange for regular premiums paid by the life insured. Think you don’t need life insurance if you don’t have kids? You may want to think again. It may seem like an unnecessary expense. But there are many benefits to having life insurance, even if you’re not supporting a family.
Ensure regular investment and security for life by purchasing a life insurance policy.
The ‘financial protection’ under life insurance is provided in the form of life cover, also known as sum assured. It is a pre-agreed amount that is payable in case of an untoward incident with the life insured.
For the life insurance contract to be enforceable and life insurance quotes to be accurate, your application must accurately disclose your current and past health conditions. Also, you need to pay a single premium or regular premiums as chosen when buying life insurance. You can estimate the life insurance quotes for your financial profile by using the insurance calculator. Everyone has different financial needs and life goals, based on which he/she should choose a life insurance plan.