Written By

Shoaib Shah Al Asadi

 

Today

           I am writing on this topic which is a well known topic around the Globe .I tried my best to make this topic easier for my valuable readers so they will understand in a better way about life Insurance. 

Life insurance 

Companies are often regarded as organizations that make money through the death business. The importance of life Insurance to the lives of countless people but cannot be underestimated. 

It can be a lifesaver for the dependent and beloved of the policy buyer. Death does not offer a second chance but life insurance can help provide financial security for survivors. 

Most of the people buy the life insurance policy to protect the future of there family members ,either prematurely, by accident, or by illness. Life insurance offers a certain guarantee of financial security for those who rely on the condition in which the policy buyer dies.

People who depend on the policyholders are given this amount if the premiums are given on time. However, in modern times life insurance can be used as an investment option, as a mortgage loan and other necessities. Carefully purchased life insurance can be adjusted to meet the various needs of the policyholder.

Life insurance has become important in a country where the benefits of

• Social security
• Pension plans
• Family savings

Are insufficient to meet the financial needs of the entire family, to cover the cost of living or to maintain a certain lifestyle, in the event of the breadwinner's death. 

There are various programs available for that offer policies for sick people who cannot get insurance elsewhere, even though premiums are high. the companies are often hesitant to guarantee that people have a high mortality rate.

Smokers and those people who have diabetes and overweight people are often protected by double or triple premiums paid by non-smokers or non-diabetics.

The main types of insurance are long-term life insurance and permanent life Insurance. There are various differences between these. Life Insurance policy provides death cover for a period of time.

The first premiums are very low but very expensive each passing year, and over time they become more expensive. This is usually suitable for young people with temporary needs such as a home loan, car loan, or tuition fee.

The benefit of the beneficiary is only provided in the event of the death of the policyholder within the prescribed period. Terminal renewal policies or permanent changes are very expensive.

No benefits or monetary value has been derived from this policy, which is aimed at protection only. Complete life insurance offers security.

Initial premiums are much higher than the actual cost of Insurance but the premium later becomes much lower than the life insurance policy. The first premiums are used to measure the later premium, and are used to cover a lifetime.

Lifetime insurance offers benefits and value for money to maturity. Endowment insurance is a variation of time insurance that can be used for savings, or to earn extra money during retirement.

General life Insurance is a subsidiary of lifetime insurance where the consumer has the freedom to choose the type of premium.

Flexible life Insurance is popular because premium money is invested in various funds to make it more profitable. Various life insurance accepts both the benefits of flexible life insurance. 

Single purchase Insurance enables one to purchase this policy at the same time. Survival life Insurance is done jointly by two people. There are different types of Insurance strategies with different options by different companies.

Besides to consulting an expert in finding the best policy that suits your individual needs.one should carefully consider the options, consider the type of money required or insurance required, the ability to pay the premiums, and the length of the need.