Life Insurance 2019 detail

What is life insurance and should I take it? How much will it be worth taking insurance? Try to answer all these questions here in simple English. The need for life insurance is different according to the age, income and responsibilities of everyone. Let's understand what life insurance is. To know more about insurance and other aspects, read our article on Insurance in detail.

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Life Insurance

Life insurance is not life insurance after getting named Life Insurance. No company in the world can ensure anyone's life. When a company insures a person, it does not happen that if something happens then it will be reinstated in it.

Life insurance is not a life insured

Can you tell, can life be insured also? Can we ensure our life? Because life is given to God and God can take it back whenever it wants. How can a person get his life insured? Can life be recovered by getting insurance of life? So we realized that our first mistake was to remove this misunderstanding in Life Insurance in Hindi. Read here on our site about health insurance.

What is life insurance

Life insurance provides protection to the family from the loss of its insured in the event of the death of the insured person. (A protection against the loss of income that will result in the insured passed away). In other words, in the event of the death of the insured, which prevents the family from the loss of income is called life insurance. In today's era, when every other person lives in a house for a loan, then in this state, the need for life insurance also increases. Read Life Insurance In Hindi also read the types of life insurance and learn what kind of insurance you should take.

How life insurance works

During the period of insurance, the sum insured is paid to the nominee on the death of the insured. In the savings plan, the maturity value is paid to the insured at the end of the plan period. According to the rules of the Maturity Value plan, the sum insured and if any bonus is issued then the sum insured in the sum insured is calculated. To continue insurance during the insurance period, the prescribed premium of insurance has to be deposited. Even after the payment of the premium paid up to the due date, the insurance cover can also be removed as per the policy plan rules. Also, know how to claim life insurance at the end of the plan period and if required.

How much life insurance should you get

So how much insurance should be, it depends on the circumstances of every person, however, according to a simple equation, take out eight times the amount of money you earn in a year. In this, you reduce your liquidity assets such as cash, bank deposits and mutual funds, and your liabilities like loan, responsibility of children, any other responsibility (such as a small sister's wedding expenses or a household member of a household who is Be dependent on you) Add it in Thus, the amount of sum assured will be taken from you, ie sum assured. Life insurance is also used to save income tax.