Life Insurance Gives Life Long Protection For The Life

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Life insurance in simple terms we can say that it is the protection coverage policy that we are taking to protect our life and family member's life. It can also be considered as the savings of money. Even the insured person dies at the time of insurance time; the insured money will be given to that family by the life insurance company. So that it saves the particular family by giving education to the children and marriage, etc. There are many types of life insurance:

Term Insurance Policy:
This kind of policy is only useful when the insured person dies at the time of life insurance time. The motivation of this policy is to protect the insured person family after that person's death. For example, if the person takes the life insurance policy of RS 50 thousand for 20 years if he dies at the time of 5th year his family will be given that amount. If he survives after 20 years that particular person will not be given that amount. So this time of policy is more unsuitable for investment or savings.

Endowment Policy:
It is the most useful life insurance policy when compared to the other one. In this policy when the insured person dies at the time of the policy term his family gets that assured amount. Suppose if the survives after the policy term he gets that assured amount along with that he gets bonus from that life insurance company. This kind of policy is very much higher when compared to the other policies.

Money Back Policy:
This kind of policy is very useful for the personal life. The life insurance company pays that particular person for his need, it may be for children education or for the marriage, etc. If the policy holder dies at the time of policy time assured amount will be given to his family.

Children Plans:
There are some plans, which will be very useful for the children. For example, if children are taken policy by his family for 25 years at the time of his birth in a particular life insurance company, that will be helpful for that insured person after 20 or 25 years it may be for his education or for his marriage.

Health policy:
There is no guarantee for a particular person when he has to face illness in his life. Some person needed to face illness regularly. So for them, it is better to go for this kind of policy. The treatment amount can be big or small but that can be claimed from that company. We claim that amount with the help of getting required documents from the particular hospital.

 

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