Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Life insurance provides great benefits to the family of the deceased after his/her death in form of financial/ monetary support to help them sustain their livelihood. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. It is of utmost importance to have a life/illness insurance to have a failsafe option you can fall back on in case of a life threatening disease or death of the insured. The life insurance provides monetary support to the family of the affected to help them pull through the trying times without worrying for their sustenance.
India is expanding massively in the life insurance market. The current rank of India in the same is 10 among 88 global countries and its share is 2.36% in the same. With this apparent boom in the insurance market, there has emerged a ton of insurance providers to choose from, a lot of confusion in […]
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Purchasing a life insurance policy is important since it intends to provide financial coverage to you and your family members in case of an emergency or any unexpected event. Now, comes the most important question- Should you opt for a private insurance provider or government insurance provider? At present, there are a total of 24 […]
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The government of India has launched several schemes for the public of India. Among these schemes, two renowned insurance schemes offer insurance coverage at low premium rates- Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Let’s look into these schemes in a detailed manner below: Pradhan Mantri Suraksha Bima […]
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Are you someone who regularly buys expensive stuff just for the sake of shopping? If you are unable to cure this habit and bring yourself to save money for the future, then endowment insurance might be just the right thing for you. Endowment policies provide an option of insuring yourself up for the duration of […]
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Max Life, as many of us know, is one of the most popular and reputed insurance companies in India and has been bringing a multitude of insurance options in the market. May it be retirement plans, income, and savings plans, ULIP, Life Insurance, and term insurance plans, Max Life helps its customers with this wide […]
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Securing your family’s financial future is easier with an excellent life insurance plan. No matter how difficult the concept is, death is something that everyone must be prepared for at any moment. Planning for the lives of your dependents when you’ve passed away can seem a bit grim, nonetheless, you must do it. While you […]
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In this world of uncertainty, no one and nothing is permanent or predictable. With each step in your life, you need to be careful for yourself and also be aware of the safety of your loved ones. And one of the easiest way to do that is getting a life insurance plan in India. There […]
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A normal insurance policy requires you to pay your premiums until the end of tenure or until the policy is triggered due to the covered circumstances taking place. If there’s an emergency that puts a huge financial burden on you, taking out these funds before maturity can become next to impossible leaving you in a […]
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It is always a brilliant decision to purchase a life insurance policy for yourself. One of the biggest advantages of purchasing a life insurance policy is that it provides you cover and ensures that the future of your loved ones is safe and secure. However, one of the problems that the life insurance sector in […]
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To have someone’s life and future secured with an ideal life insurance policy is certainly no joke. If a person is financially dependent on you, then it is always a wise choice to buy a life insurance policy, as a token of security and future stability to a certain extent. However, there’s more to it. […]
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